Business
H1 EBITDA UP TO US$ 43.35 MM
H1 EBITDA UP TO US$ 43.35 MM.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n RNS Number : 1735S Zhaikmunai LP 06 September 2010 \n \n\nZhaikmunai L.P.\n(the \"Company\") \n \n \nH1 EBITDA UP TO US$ 43.35 MM (+33.10 % YoY) \n \n \nLondon - September 6, 2010 - Zhaikmunai L.P. (LSE:ZKM) ('Zhaikmunai'), the independent oil and gas enterprise operating in northwestern Kazakhstan, today announces its half-yearly results for the six months ended 30 June 2010.\n2010 HALF-YEARLY RESULTS SUMMARY\nAll figures in US$ millions unless otherwise stated\n\n\n\n\n\n\n\nH1 2010\n\n\nH1 2009\n\n\nChange YoY\n\n\n\n\nRevenues from oil sales\n\n\n74.654\n\n\n44.680\n\n\n+67.08%\n\n\n\n\nEBITDA\n\n\n43.353\n\n\n32.572\n\n\n+33.10%\n\n\n\n\nNet Cash Flow from operating activities \n\n\n24.672\n\n\n13.836\n\n\n+78.32%\n\n\n\n\nNet Cash Flow used in investing activities\n\n\n(71.316)\n\n\n(24.918)\n\n\n\n\n\n\n\nNet income\n\n\n19.577\n\n\n(20.101)\n\n\n\n\n\n\n\nProduction (bopd)\n\n\n7,261\n\n\n7,271\n\n\n-0.1%\n\n\n\n\nDebt\n\n\n381.677\n\n\n381.677\n\n\nunch.\n\n\n\n\nAverage Realised oil price (US$ per bbl)\n\n\n77.85\n\n\n51.62\n\n\n+50.81%\n\n\n\n\nDiscount (US$ per bbl)\n\n\n14.26\n\n\n15.40\n\n\n-7.40%\n\n\n\n\nWeighted average netback (US$ per bbl)\n\n\n63.59\n\n\n36.22\n\n\n+75.57%\n\n\n\n\n \nZhaikmunai had a strong first half. All financial figures improved relative to the first half of 2009 reflecting a 50.8% increase in the average realised oil price. Oil production was practically unchanged. Production of condensate, LPG and dry sales gas is expected to commence before year-end, which will result in significant production growth.\n \nKEY H1 2010 HIGHLIGHTS\n· EBITDA was US$43.35 million, 33% higher than EBITDA realized in H1 2009 (US$32.57 million).\n· Net profit was US$19.58 million compared with a loss of US$ 20.10 million during the same period last year.\n· Revenues increased to US$74.65 million, a 67% increase relative to the revenues realized in H1 2009 (US$44.68 million).\n· Successful test results for two new wells.\n· Completion of Zhaikmunai's gas treatment facility is expected to occur before the end of September 2010 \n \nFINANCIAL HIGHLIGHTS\nRevenue\nStrong oil prices enabled Zhaikmunai to realize revenue from oil sales of US$74.654 million. Revenues...