/KASE, August 20, 2024/ – Zhaikmunai LLP (Oral), whose bonds are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the
following press release dated August 20, 2024:
quote
Zhaikmunai LLP,a subsidiary of Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum",
or the "Company" and together with its subsidiaries, the "Group"), an
independent oil and gas company engaged in oil and gas production, as well as
exploration and development of oil and gas fields in the Caspian Basin, today
announces Nostrum's financial results for the second quarter and six months
ended 30 June 2024 ("H1 2024").
...
H1 2024 Highlights:
Financial
- Revenues of US$65.3 million, a 23.7% increase compared to US$52.8 million
in H1 2023, resulting from additional sales volumes of dry gas and LPG
produced from Ural Oil & Gas LLP ("Ural O&G") and US$3.9 million of
condensate tolling revenue. Brent crude oil price increased from an average of
US$79.7/bbl in H1 2023 to an average of US$83.7/bbl in H1 2024.
- 44% increase in EBITDA* of US$22.3m (H1 2023: US$15.5m) with EBITDA
margin of 34.2% (H1 2023: 29.4%). The increase is primarily driven by
increased production and revenues as well as prudent cost management.
- The Group’s unrestricted cash balance as at 30 June 2024 was US$142.5
million, including current investments in fixed term deposits and liquid money
market funds. Excluding one-off items, our closing unrestricted cash position
at the end of June would have been US$158.4m, a slight decrease from the 2023
year-end cash balance of US$161.7m.
- The restricted cash balance (DSRA and asset liquidation fund) was US$25.5
million as at 30 June 2024 (31 March 2024: US$25.2 million).
- The Group continues to focus on maximising facility uptime, controlling costs
and improving efficiencies across all facets of our business, while allocating
and efficiently utilising existing resources on growth projects.
* EBITDA is a non-IFRS measure and is defined as profit before tax net of
depreciation, depletion and amortisation, share-based compensation, foreign
exchange losses, finance costs, finance income, non-core income or expenses
and taxes.
unquote
The complete press release is available on –
https://kase.kz/files/emitters/ZHMN/zhmn_information_200824.pdf
[2024-08-20]