17th Oct 2007 08:00
JSC KazMunaiGas Exploration Prod17 October 2007 PRESS - RELEASE JSC KazMunaiGas Exploration Production announces operating results for the first nine months of 2007 Astana, 15 October 2007, JSC KazMunaiGas Exploration Production ("KMG EP" or "the Company"), announced today that in the first nine months of 2007, theCompany produced 7,763 thousand tonnes of crude oil (209.93kbopd). This is 640.5thousand tonnes more than in the first nine months of 2006. The increase isprimarily due to the acquisition of a 50% stake in JV Kazgermunai LLP ("Kazgermunai") completed on 24 April 2007. For the 159 days between theacquisition date and 30 September 2007 the Company's share in Kazgermunai crudeoil production was 656 thousand tonnes (31.44kbopd). Excluding the Company's share in Kazgermunai, KMG EP's production was 7,108thousand tonnes of crude oil (191.63kbopd) in the first nine months of 2007,approximately same level as in the similar period of 2006. Based on preliminary data, in the first nine months of 2007, the Companysupplied 7,190 thousand tonnes of crude oil (193.84kbopd) to the customersexcluding oil produced by Kazgermunai. Out of this amount, approximately 5,572thousand tonnes (150.22kbopd) were supplied to export markets, 11.5% more thanin the first nine months of 2006. In the third quarter of 2007, the Company's share in the volume of Kazgermunaicrude oil sales was 331 thousand tonnes of crude oil (27.41kbopd) including 286thousand tonnes (23.67kbopd) supplied to export markets. - ENDS - Notes to Editors KMG EP is the 3rd largest Kazakh oil and gas producer with over 9.5 mmt (192kbopd) of crude oil production in 2006 and 203.2 mmt (1.5bn bbl) of proved andprobable reserves at the end of 2006. The Company's shares are listed onKazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. TheCompany raised approximately US$2bn in its IPO in September of 2006. For further details please contact us at: KMG EP, Public Relations (+7 7172 977 908, +7 7172 977 924)Lyazzat KokkozovaE-mail: [email protected] KMG EP, Investor Relations (+7 7172 975433)Alexander GladyshevE-mail: [email protected] WMC Communications Ltd (+44 207 930 9030)Elena DobsonE-mail: [email protected] Forward-looking statements This document includes statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements can be identified by theuse of forward-looking terminology, including, but not limited to, the terms''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', ''may'', ''target'', ''will'', or ''should'' or, in each case, their negative orother variations or comparable terminology, or by discussions of strategy,plans, objectives, goals, future events or intentions. These forward-lookingstatements include all matters that are not historical facts. They include, butare not limited to, statements regarding the Company's intentions, beliefs andstatements of current expectations concerning, amongst other things, theCompany's results of operations, financial condition, liquidity, prospects,growth, potential acquisitions, strategies and as to the industries in which theCompany operates. By their nature, forward-looking statements involve risk anduncertainty because they relate to future events and circumstances that may ormay not occur. Forward-looking statements are not guarantees of futureperformance and the actual results of the Company's operations, financialcondition and liquidity and the development of the country and the industries inwhich the Company operates may differ materially from those described in, orsuggested by, the forward-looking statements contained in this document. TheCompany does not intend, and does not assume any obligation, to update or reviseany forward-looking statements or industry information set out in this document,whether as a result of new information, future events or otherwise. The Companydoes not make any representation, warranty or prediction that the resultsanticipated by such forward-looking statements will be achieved. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kazmunaigaz Exploration