Results of activity of Karazhanbasmunai OJSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, December 8, 04/ - Karazhanbasmunai OJSC (Aktau), whose bonds are circulating in official "A" listing category of Kazakhstan stock exchange JSC (KASE), provided KASE with financial statements for 9 months of 2004. The following indicators are result of the issuer's financial and economic activity for 9 months of 2004, based upon the issuer's information (in th. KZT, unless otherwise specified): ----------------------------------------------------------------------------- As of As of Change, Indicator Oct 1, 03 Oct 1, 04 % -------------------------------------------- ---------- ---------- ------- Authorized capital (paid-up minus withdrawn) 2,161,062 2,161,061 0.0 Shareholders' equity 20,198,984 23,574,172 +16.7 Balance cost of assets 44,691,019 61,297,276 +37.2 Net working capital 3,907,516 13,177,888 +237.2 Accounts receivable, net 8,520,925 11,973,599 +40.5 Liabilities, total 24,492,035 37,723,104 +54.0 Attracted credits (excluding bonds) 12,244,166 14,465,194 +18.1 Accounts payable 2,328,626 4,681,696 +101.0 Liabilities on bonds 2,978,600 11,100,000 +272.7 Sales volume 29,162,945 43,559,975 +49.4 Cost of goods sold 5,835,048 7,835,786 +34.3 Net income for the period 10,020,702 13,846,750 +38.2 ----------------------------------------------------------------------------- Relative to 9 months of 2003 following items registered growth: - shareholders' equity - by KZT3.4 bn. as the result of increase of total amount of undistributed income by 3.5 bn. With decrease of reserve of revaluation by 163.3 m.; - assets - by KZT16.6 bn, what is caused by increase of depreciated cost of fixed assets (including construction in progress) by 10.6 bn., accounts receivable - by 3.4 bn; money - by 1.6 bn., inventory reserves - by 1.5 bn. and other assets - by 640.3 m; - liabilities - by KZT13.2 bn., including: on bonds - by 8.1 bn., attracted loans (wexcluding bonds) - by 2.2 bn., accounts payable 0 by 2.3 bn. And other liabilities - by 535.6 m.; - sales volume - KZT14.4 bn; - cost of goods sold - KZT2.0 bn; Net income earned by Karazhanbasmunai OJSC during 9 months of 2004 exceeded its net income of similar period of 2003 by KZT3.8 bn. Company's primary activities: development of oil field Karazhanbas; extraction, preparation, handing over and refining of oil; introduction of thermal methods of oil recovery increasing; building of objects of wells construction and development; crude oil refinement and processing; building of objects of oil preparation; export; marketing and sale of hydrocarbons and hydrocarbon products. [2004-12-08]