KazMunayGas Announces Financial Results of Its Activities
OREANDA-NEWS. On December 10, 2007 Exploration Production KazMunayGas JSC (Astana), shares of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list had spread the press-release in which the following is informed, reported the press-centre of KASE:
Exploration Production KazMunayGas JSC (EP KMG JSC, Company) had published the non-audited intermediate financial information for 9 months of year 2007, finished on September 30, 2007. The Ernst & Young auditor had conducted the review check-up of given information.
- Volume of oil extraction, considering Company's stake in extraction of JV Kazgermunay LLP (Kazgermunay), increased by 641 th. tons and made 7,763 th. tons.
- Average daily extraction made 209.93 barrels of oil per 24 hours
- Net income increased by 52,6% and made KZT103,5 bn. ($840 m.)*
- Growth of income by KZT25,1 bn. ($252 m.)
- Additional net income in size of KZT8,9 bn. ($72 m.) for account of 50%-ge stake of participation of Company in activity results of Kazgermunay
- Net money funds as of September 30, 2007 made KZT291,1 bn. ($2,4 bn.)
- On November 28,2007 Kazgermunay paid the Company dividends in size of $300 m.
Commenting financial results for 9 months of year 2007 general director of the Company Baljanov A.K. announced: "Our financial indicators for 9 months of year 2007 reflect the ability of selected strategy to bring high level of income for shareholders. Purchasing of 50%-ge stake in company Kazgermunay already gives the good impact to our financial and production results, and we are planning the further growth of Company".
*Sums in US dollars are transferred exclusively for comfort of readers at average exchange rate for corresponding period for consolidated reports about profits and losses and consolidated reports about money funds moving and at rate as of end of period for consolidated balances.
Full version of press-release of Exploration Production KazMunayGas JSC is available on the web site of KASE at:
- http://www.kase.kz/emitters/scan/rdgz/rdgz_reliz_101207.pdf - in Russian language;
- http://www.kase.kz/emitters/scan/rdgz/rdgz_reliz_101207e.pdf - in English language.
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