27th Nov 2008 07:00
KMG EP Share Buy Back Programme.
Daily announcement on the results of the trading
Astana, 27 November 2008. JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP") announces that pursuant to the Share Buy Back Programme commenced on 24 November, 2008, yesterday the Company acquired 2174 of its ordinary shares (KASE:RDGZ) on the Kazakhstan Stock Exchange ("KASE") at an average price of KZT9300 each.
Under the Buy Back Programme the Company has the option to purchase its common shares listed on the KASE and global depositary receipts listed on the London Stock Exchange (LSE:KMG) up to an aggregate value of $350 million. The programme will be executed subject to the applicable requirements of the stock exchanges and will end before 31 October 2009.
The Company has appointed two brokers to execute the Buy Back Programme, one for each exchange.
The daily announcements summarizing the results of each day's trading can be found on the Company's website www.kmgep.kz.
Notes to Editors
KMG EP is the 3 largest Kazakh oil & gas producers, with over 10.6 mmt (215 kbopd) of crude oil production in 2007 including shares in the production of Kazgermunai and CCEL, and 240 mmt (1.8bn bbl) of proved and probable reserves at the end of 2007 (over 2 bn bbl including interests in Kazgermunai and CCEL). The Company's shares are listed on Kazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. The Company raised approximately US$2bn in its IPO in September 2006. International rating agency Standard & Poor's (S&P) increased the Corporate Governance Score of KMG EP from CGS 5+ to CGS 6 and confirmed its «BB+» corporate credit rating in November 2008.
For further details please contact us at:
KMG EP, Public Relations (+7 7172 97 7600)
Michael Dorofeyev
E-mail: [email protected]
KMG EP, Investor Relations (+7 7172 97 7971)
Asel Kaliyeva
E-mail: [email protected]
Pelham PR (+44 203 178 44 18)
Elena Dobson
E-mail: Elena.dobson@pelhampr.com
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 the use 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 or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They include, but are not limited to, statements regarding the Company's intentions, beliefs and statements of current expectations concerning, amongst other things, the Company's results of operations, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and as to the industries in which the Company operates. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements are not guarantees of future performance and the actual results of the Company's operations, financial condition and liquidity and the development of the country and the industries in which the Company operates may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements or industry information set out in this document, whether as a result of new information, future events or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved.
Related Shares:
Kazmunaigaz Exploration