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Zhaikmunai LP announces 2012 Financial Update
By: Marketwired .
Feb. 21, 2013 02:11 AM
ISLE OF MAN, UNITED KINGDOM -- (Marketwire) -- 02/21/13 --
2012 Financial Update Zhaikmunai L.P. (LSE: ZKM) ("Zhaikmunai"), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan, today issues this financial update in respect of its financial results for the year ended 31st December 2012. This update is being issued in advance of the release of its full-year audited and consolidated accounts, which is scheduled for the week of March 18, 2013, as a consequence of certain regulatory requirements in the Republic of Kazakhstan. The information contained in this update has not yet been audited and remains subject to further review. Zhaikmunai's 2012 Headline Financials Forecast Zhaikmunai is pleased to announce preliminary unaudited headline financials for the year 2012. Based on an average total daily production of 36,940 boepd in 2012, total revenue for the year is expected to be above US$ 700 million and total EBITDA for the year is expected to be above US$ 400 million. Following the successful completion of its second bond in November 2012, Zhaikmunai ended the year with a total debt of approximately US$ 652.5 million and a total cash position of above US$ 250 million. Release of Zhaikmunai's 2012 Full-Year Results Zhaikmunai L.P. plans to release its audited consolidated accounts for the year ended 31st December 2012 in the week of March 18, 2013. Zhaikmunai's management team will be available for analysts and investors for a Q&A session following the release. Registration details for the conference call will be provided well in advance of the scheduled release date. Further information For further information please visit www.zhaikmunai.com Further enquiries Zhaikmunai LP - Investor Relations Bruno G. Meere Kirsty Hamilton-Smith email@example.com + 44 (0) 1624 68 21 79 Pelham Bell Pottinger Philip Dennis Elena Dobson + 44 (0) 207 861 32 32 About Zhaikmunai Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration and development and production of oil and gas. It is listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in northwestern Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai L.P., holds a 100% interest in and is the operator of the Production Sharing Agreement for the Chinarevskoye Field. Forward-Looking Statements Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of the Partnership or its officers with respect to various matters. When used in this document, the words"expects,""believes,""anticipates,""plans,""may,""will,""should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements. This information is provided by RNS The company news service from the London Stock Exchange END
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