SOURCE: Zhaikmunai LP

September 06, 2010 02:41 ET

Zhaikmunai H1 EBITDA UPTO US$43.35 MM(+33.10% YoY)

ISLE OF MAN--(Marketwire - September 6, 2010) -

                             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.


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.


* 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

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Further enquiries

Zhaikmunai LP 
Bert Jordens, Investor Relations Officer                +44 (0) 1624 68 21 79 

Michael Harrison                      +44 (0)20 7404 59 59

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