22nd Nov 2022 21:37
Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - In the nine months ended September 30, reports revenue of USD155.5 million, up against USD142.6 million the previous year. Earnings before interest, tax, depreciation and amortisation rise to USD94.9 million from USD84.1 million. Reports an average Brent oil price of USD102.50 per barrel during the period, up from an average price of USD67.90 per barrel the year prior. Daily sales volumes average 12,780 barrels of oil equivalent per day, down from 15,838 bodpd.
Chief Executive Arfan Khan notes that the firm hasn't received its required licenses in the expected timeframe and as a result amends the longstop date regarding its restructuring to February 16.
"Completion of the restructuring is a key pre-requisite to unlocking the full potential of Nostrum's value chain and infrastructure," the CEO adds.
Current stock price: 2.04 pence
12-month change: down 75%
By Heather Rydings; [email protected]
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