/KASE, July 28, 15/ – Zhaikmunai JSC (Uralsk), 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 ("the Company", and
together with its subsidiaries the "Group"), an independent oil and gas company
engaged in oil and gas production, exploration and development of oil and gas
fields in the Caspian basin, today announced operating results for the six
months that ended on June 30, 2015. This update is released on the eve of the
publication of the audited and consolidated financial statements for the same
period, which will be presented before the end of August. The information
contained in this report has not yet been audited, and it will have to be
analyzed by independent auditors.
Key operational and financial performance:
Operating Highlights
• The average daily production is 44,337 barrels of oil equivalent per day
• The level of production in 2015 continues to target 45,000 barrels of oil
equivalent per day
• The works on completion of gas treatment facilities 3 are executed on time and
within the budget, and the completion is planned until the end of 2016
• The drilling program planned for 2015: to complete 8 wells (6 producing wells
and 2 appraisal wells)
Financial performance
Revenues for the first half of 2015 is expected to reach more than USD270
Cash position is more than USD240 mn (including short-term deposits) and net
debt – about USD720 mn, as of June 30, 2015
The fully funded program of capital expenditures both for the maintenance of
existing production level in 2015 and 2016, and completion of the construction
of gas treatment facilities 3 on time in 2016 • 32% of liquid hydrocarbon
production (7,500 bopd) are hedged at USD 85 until February 2016
unquote
The full version of the press release is available on KASE website in Russian at
http://www.kase.kz/files/emitters/ZHMN/zhmn_reliz_280715.pdf
[2015-07-28]