Zhaikmunai L.P.
(the "Company")
H1 EBITDA UP TO US$ 43.35 MM (+33.10 % YoY)
London - 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.
2010 HALF-YEARLY RESULTS SUMMARY
All figures in US$ millions unless otherwise stated H1 2010 H1 2009 Change YoY
Revenues from oil sales 74.654 44.680 +67.08%
EBITDA 43.353 32.572 +33.10%
Net Cash Flow from operating activities 24.672 13.836 +78.32%
Net Cash Flow used in investing activities(71.316) (24.918)
Net income 19.577 (20.101)
Production (bopd) 7,261 7,271 -0.1%
Debt 381.677 381.677 unch.
Average Realised oil price (US$ per bbl) 77.85 51.62 +50.81%
Discount (US$ per bbl) 14.26 15.40 -7.40%
Weighted average netback (US$ per bbl) 63.59 36.22 +75.57%
Zhaikmunai 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.
KEY H1 2010 HIGHLIGHTS
* EBITDA was US$43.35 million, 33% higher than EBITDA realized in H1
2009 (US$32.57 million).
* Net profit was US$19.58 million compared with a loss of US$ 20.10
million during the same period last year.
* Revenues increased to US$74.65 million, a 67% increase relative to
the revenues realized in H1 2009 (US$44.68 million).
* Successful test results for two new wells.
* Completion of Zhaikmunai's gas treatment facility is expected to
occur before the end of September 2010
To view the full text of this press release, paste the following link
into your web browser:
http://www.rns-pdf.londonstockexchange.com/rns/1740S_1-2010-9-6.pdf
Further enquiries
Zhaikmunai LP
Bert Jordens, Investor Relations Officer
jordens@zhaikmunai.com +44 (0) 1624 68 21 79
Brunswick
Michael Harrison +44 (0)20 7404 59 59
This information is provided by RNS
The company news service from the London Stock Exchange
END
Contact Information: Contacts: RNS Customer Services 0044-207797-4400 http://www.rns.com