Zhaikmunai announces operating results of Zhaikmunai LLP for period ending December 31, 2014

28.01.15 17:12
/KASE, January 28, 15/ – Zhaikmunai (Oral), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release: quote Zhaikmunai LLP, subsidiary of Nostrum Oil & Gas PLC ("Company" and jointly with subsidiaries "Group"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the Caspian Basin, today announces its operational update for the Fourth Quarter and Full Year ended 31 December 2014. This update is being issued in advance of the release of its audited and consolidated accounts for the same period. The information contained in this update remains subject to review by the independent auditors. - Highlights: - Financial - Revenue expected to be in excess of US$770m - Cash position in excess of US$400m (including short-term deposits) and net debt of approximately US$560m - Fully funded capex programme both to maintain current production in 2015 and 2016 and complete construction of the GTU3 in 2016 at a breakeven oil price of US$31 - 32% of liquids production (7,500 bopd) hedged at US$85 until February 2016 - unquote The full press-release is available on KASE website in Russian at http://www.kase.kz/files/emitters/ZHMN/zhmn_reliz_280115.pdf [2015-01-28]