Zhaikmunai reports Q3 and 9M 2023 financial results of NOSTRUM OIL & GAS PLC

21.11.23 17:26
/KASE, November 21, 2023/ – Zhaikmunai LLP (Oral), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated November 21, 2023: quote Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or the "Company" and together with its subsidiaries, the "Group"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its financial results for the third quarter and nine months ended 30 September 2023 (the "Results"). Nostrum management will present the Results and be available for a Q&A session with analysts and investors today, 21 November 2023, at 2pm UK time. If you would like to participate in this call, please register by clicking on the following link and following instructions: call conference on the result of the period under review 9M 2023 Highlights: Financial - Revenue of US$88.8m (9M 2022: US$155.6m), a 43% decrease reflecting production decline in line with management expectations and relatively lower average product prices (average Brent oil price of US$81.9/bbl for 9M 2023 vs US$102.5/bbl for 9M 2022). - EBITDA1 of US$33.0m (9M 2022: US$94.9m) and an EBITDA margin of 37.1% (9M 2022: 61.0%), both decreasing as a result of lower revenues and a largely fixed operating cost base. - The Group's unrestricted cash balance as at 30 September 2023 was US$171.7m (30 June 2023: US$192.0m), the quarterly reduction due primarily to the US$19.3m acquisition payment for the Company's 80% interest in Positive Invest LLP. The Group's restricted cash balance as at 30 September 2023 was US$24.6m (30 June 2023: US$16.3m). - While the Group is focused on future growth opportunities to fill the spare capacity of its gas processing infrastructure, the management also continues to focus on cost optimisation to help maintain its liquidity and cash reserves. unquote The complete press release is available on – https://kase.kz/files/emitters/ZHMN/zhmn_relizs_211123.pdf [2023-11-21]