Results of activity of Karazhanbasmunay JSC (Kazakhstan) in Q1 of 2005

/IRBIS, Galina Tsalyuk, August 19, 05/ - Karazhanbasmunay JSC (Aktau), whose bonds are circulating in official "A" listing category of Kazakhstan stock exchange JSC (KASE), provided KASE with financial statement for the I quarter of 2005. Following indicators are result of the issuer's financial and economic activity in the I quarter of 2005, based upon the issuer's data (th. KZT): ----------------------------------------------------------------------------- As of As of Change, Indicator Apr 1, 04 Apr 1, 05 % -------------------------------------------- ---------- ---------- ------- Authorized capital (paid-up minus withdrawn) 2,161,061 2,161,061 0.0 Shareholders' equity 20,436,839 24,315,147 +19.0 Book value of assets 51,148,447 66,938,127 +30.9 Working capital 9,504,403 9,671,197 +1.8 Accounts receivable 10,216,924 10,890,486 +6.6 Liabilities, total 30,711,608 42,622,980 +38.8 Borrowed loans (excluding bonds) 10,088,633 15,046,529 +49.1 Accounts payable 2,308,054 9,358,325 +305.5 Liabilities on bonds 11,100,000 10,943,601 -1.4 Sales volume 11,997,388 19,309,116 +60.9 Cost of goods sold 2,369,319 3,452,892 +45.7 Net income for the period 3,990,220 7,132,076 +78.7 ----------------------------------------------------------------------------- Relative to the I quarter of 2004 there is growth of: - shareholders' equity - by KZT3.9 bn. as the result of increase of undistributed income by 4.3 bn. that was partially compensated by falling of additional unpaid capital by 468.5 m.; - assets - by KZT15.8 bn. because of growth of residual value of fixed assets (including construction in progress) by 12.9 bn., money and its equivalents - by 3.8 bn., accounts receivable - by 673.6 m., whereas other assets fell by 1.6 bn.; - liabilities - by KZT11.9 bn. because of growth of accounts payable by 7.0 bn., borrowed loans (excluding bonds) - by 5.0 bn. and deferred taxes - by 1.0 bn., whereas other liabilities fell by 1.1 bn.; - sales volume - by KZT7.3 bn.; - cost of goods sold - by KZT1.1 bn. Net income the company earned in the I quarter of 2005 exceeded its net income of the I quarter of 2004 by KZT3.1 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. [2005-08-19]