Results of activity of CNPC-Aktobemunaigas OJSC (Kazakhstan) in 2003

/IRBIS, May 14, 03/ - CNPC-Aktobemunaigas OJSC (Aktobe), whose common shares are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the consolidated financial statement for 2003. Following indicators are the result of the issuer's financial and economic activity in 2003, based upon the issuer's data (th. KZT, unless other wise specified): ---------------------------------------------------------------- As of As of Change, Indicator Jan 1, 03 Jan 1, 04 % ----------------------------- ----------- ----------- ------- Authorized capital (paid) 14,835,638 14,835,638 0.0 Shareholders' equity 63,432,630 91,909,845 +44.9 Total assets 137,509,599 192,565,586 +40.0 Net working capital -16,279,124 -15,434,977 -5.2 Accounts receivable 12,442,545 23,676,733 +90.3 Total liabilities 74,076,168 100,654,985 +35.9 Borrowed loans 26,352,666 39,195,210 +48.7 Accounts payable 24,711,960 27,671,902 +12.0 Sales volume 97,220,038 111,668,244 +14.9 Cost of goods sold 28,791,608 29,264,935 +1.6 Net income for the period 26,262,412 36,029,434 +37.2 ----------------------------- ----------- ----------- ------- Calculated by issuer's data: ----------------------------- ----------- ----------- ------- Return on sales (ROS), % 63.11 73.79 +16.9 Return on equity (ROE), % 41.40 39.20 -5.3 Return on assets (ROA), % 19.10 18.71 -2.0 Earnings per share (EPS), KZT 2,855.23 3,803.12 +33.2 Book value of one share, KZT 6,413.54 9,292.81 +44.9 ---------------------------------------------------------------- Price earnings ratio (P/E) was not calculated because of absence of market deals in company's common shares. Relative to 2002 there is increase of: - shareholders equity - by KZT28.5 bn. as the result of growth of total sum of undistributed income by 29.0 bn., whereas there took place decrease of additional unpaid capital by 504.3 m. - assets - by KZT55.0 bn. including: residual value of fixed assets - by 40.6 bn., accounts receivable - by 11.2 bn., inventory - by 1.5 bn. and other assets - by 1.7 bn.; - liabilities - by KZT26.6 bn., that was caused by growth of borrowed loans volume - by 12.8 bn., accounts payable - by 2.9 bn., deferred tax - by 10.2 bn. and reserve for reconstruction of field - by 538.5 m.; - sales volume - by KZT14.4 bn.; - cost of goods sold - by KZT473.3 m. Net income, which CNPC-Aktobemunaigas OJSC obtained in 2003, exceeded the net income of the year 2002 by KZT9.8 bn. Company's primary activities: development and extraction of hydrocarbon raw stuff; drilling of prospecting, estimating, structural and operating wells; search, exploration and exploitation of oil and gas fields, refinery of oil and gas; transportation and sale of oil, gas and products of their refinery; production and sale of electrical and heat energy; building of pipelines and pipeline transportation; development and extraction of drilled mineral resource and mineral resource of joint origin, their sale and other activities in compliance with company's charter and licenses, which the company possesses. [2004-05-14]