Clarification: Ural O&G LLP gas processing update

RNS Number : 6172F

Nostrum Oil & Gas PLC

10 March 2020

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

The announcement issued by Nostrum Oil & Gas PLC ('Nostrum' or 'the Company') yesterday (9 March 2020), in connection with gas deliveries by Ural Oil & Gas LLP, abbreviated Ural Oil & Gas LLP as 'UOG'. To avoid any confusion with any other company, Nostrum is reissuing its announcement of yesterday (RNS number 3564F) clarifying that its counterparty referred to in the release is Ural Oil & Gas LLP.

All other details remain unchanged.

London, 10 March 2020

Clarification: Ural Oil & Gas LLP gas processing update

Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or "the Company"), an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today provides an update on its agreements to process Ural Oil & Gas LLP ("Ural") gas.

Nostrum has been informed by Ural that its delivery of gas to Nostrum will be delayed. Ural is currently working on a new timetable for delivery of gas to Nostrum. Despite this delay, Ural management expressed full commitment to deliver the gas before any penalties arise under the existing agreements, which would require gas to be delivered before 9 April 2023. Nostrum will provide further information when it receives further guidance from Ural regarding the date for expected delivery of first gas.

Nostrum remains in discussion with other third parties regarding the processing of gas through its infrastructure.

Disclosure of inside information in accordance with Article 17 of Regulation (EU) 596/2014   (16 April 2014) relating to Nostrum Oil & Gas PLC.

LEI: 2138007VWEP4MM3J8B29

Further information

For further information please visit www.nog.co.uk  

Further enquiries

Nostrum Oil & Gas PLC - Investor Relations

Kirsty Hamilton-Smith

[phone]

[e-mail]    

Instinctif Partners - UK      

Mark Garraway

Sarah Hourahane

Dinara Shikhametova

+ 44 (0) 207 457 2020

[e-mail]  

Promo Group Communications - Kazakhstan

Irina Noskova 

+ 7 (727) 264 67 37

Notifying person

Thomas Hartnett

Company Secretary

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC is an independent oil and gas company currently engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin. Its shares are listed on the London Stock Exchange (ticker symbol: NOG). The principal producing asset of Nostrum Oil & Gas PLC is the Chinarevskoye field, in which it holds a 100% interest and is the operator through its wholly-owned subsidiary Zhaikmunai LLP. In addition, Nostrum Oil & Gas holds a 100% interest in and is the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields through the same subsidiary. Located in the pre-Caspian basin to the north-west of Uralsk, these exploration and development fields are situated between approximately 60 and 120 kilometres from 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 Company 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.

No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity, and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by the Listing Rules and applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement.

 

END

 

 

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