4th Aug 2008 07:00
4 August, 2008
Zhaikmunai L.P. resolves rail car shortage
and returns production to previous levels
Zhaikmunai L.P. (the 'Company'), an independent oil and gas enterprise operating in Northwestern Kazakhstan, is pleased to announce that the shortage of rail car capacity that temporarily reduced output from its Chinarevskoye field has been resolved and that production has returned to previous levels of 6,700 bbls per day. Long-term lease arrangements have also been put in place to ensure adequate supply of rail cars in the future.
Zhaikmunai's management team will hold a conference all for analysts and investors to discuss this announcement at 2pm BST on Monday 4 August, 2008. Dial in details for the conference call and the replay facility, which will be available for one week, are provided below.
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Conference ID:
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58736102
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Replay Access Number
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58736102
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For further information please visit our website www.zhaikmunai.com or contact:
Zhaikmunai [email protected]
Brunswick +44 20 7404 5959
Carole Cable
About Zhaikmunai
Zhaikmunai is an independent oil and gas enterprise engaged in the exploration, production and sale of crude oil and gas condensate in northwestern Kazakhstan. The Company's licence area is the Chinarevskoye field, which is located in the northern part of the oil-rich Pre-Caspian Basin. Zhaikmunai entered into a Production Sharing Contract with the Republic of Kazakhstan in 1997. Based on a reserve report prepared by Ryder Scott Company L.P., Zhaikmunai's estimated gross proven plus probable hydrocarbon reserves as at 1 July 2007 were 397 million boe. Zhaikmunai's GDRs are listed on the London Stock Exchange under the ticker symbol 'ZKM'.
Forward looking statements
In the interests of providing Company current and potential investors with information regarding the Company, including the Company's assessment of its and its subsidiaries' future plans and operations, certain statements included in this press release may constitute forward-looking information or forward looking statements (collectively, "forward-looking statements"). All statements contained herein that are not clearly historical in nature are forward-looking, and the words "anticipate", "believe", "expect", "estimate" and similar expressions are generally intended to identify forward-looking statements. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. These forward-looking statements made as of the date hereof disclaim any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
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