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Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - In the nine months ended September 30, reports revenue of $155.5 million, up against $142.6 million the previous year. Earnings before interest, tax, depreciation and amortisation rise to $94.9 million from $84.1 million. Reports an average Brent oil price of $102.50 per barrel during the period, up from an average price of $67.90 per barrel the year prior. Daily sales volumes average 12,780 barrels of oil equivalent per day, down from 15,838 bodpd.
Chief Executive Arfan Khan notes that the firm hasn’t received its required licenses in the expected timeframe and as a result amends the longstop date regarding its restructuring to February 16.
‘Completion of the restructuring is a key pre-requisite to unlocking the full potential of Nostrum’s value chain and infrastructure,’ the CEO adds.
Current stock price: 2.04 pence
12-month change: down 75%
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