Kazmunaigaz Exploration Regulatory News (KMG)

30 Nov 2006 10:39

JSC KazMunaiGas Exploration Prod30 November 2006 In accordance with listing agreement This report on the financial results of JSC "KazMunaiGas" Exploration Production" for the first 6 months of 2006 has been submitted to the Kazakhstan StockExchange under its Listing Rules. The Russian version of this report isconsidered to prevail over this English translation, which is made solely forthe convenience of English speakers Accounts of KazMunaiGas EP JSC for the first six months of 2006 Section 1. Description of activity 1. Volume of products sold (rendered services): Volume of products sold (rendered services) Unit of For the second quarter of For the year-to-date, measure 2006 totalSold total, including:Oil tonnes 2 214 789 4 342 262Oil products tonnes 88 903 222 529Gas products:Liquid gas tonnes 36 084 69 857Dry gas ths.cubic 172 835 301 906 metersDrink water ths.cubic 784 1 656 metersOther saleSold for export, including:Oil tonnes 1 593 927 3 265 435Other sale Section 2. Management and shareholders re-structuring, participation incharter capital of other legal entities. 1. Changes in the composition of the board of directors. At an extraordinary general meeting of shareholders of KazMunaiGas EP JSC, whichwas held on June 12, 2006 there was resolved the following: 1) To terminate the powers of the following members of the Board ofDirectors of the Company: M.D. Batyrbayeva, G.K. Keshubayeva, K.B Safinova; 2) To elect the following members of the Board of Directors of the Company:E.A. Zhangaulov, E.K. Ogai, A.K. Balzhanov. 2. Information on participation for the period of report in associations,industrial, financial groups, holding companies, concerns, consortiums. With a view to issue debt securities of KazMunaiGas EP JSC has formed andaccepted 100% participation in a limited liability company "Munaishy FinanceB.V.", which has been registered on May 23, 2006 at: 3012 CL Rotterdam, theNetherlands, Schouwburgplein 30-34. Section 3. Financial information 1. Investments. (30.06.2006, ths. tenge) Type of investments Opening balance Debit Credit Closing balanceLong-term investment in capital of other legal entities 4 516 695 717 525 1 579 030 3 655 190Security holdings, total 6 330 788 2 461 937 3 943 796 4 848 929including:Government securities 6 330 788 2 461 937 3 943 796 4 848 929Non-government securitiesOther investment*Total investment 10 847 483 3 179 462 5 522 826 8 504 119 2. Accounts receivable. (30.06.2006, ths. tenge) Accounts receivable type Opening Debit Credit Closing balance balanceLong-term, total 87 289 87 289 - -including: indicate major debtors 87 289 87 289 - -LLP Semser 87 289 87 289 - - Short-term 37 856 361 205 127 597 215 948 124 27 035 834Including: indicate major debtorsTrade House KazMunaiGaz AG 26 370 774 134 528 199 143 099 031 17 799 942Esomet SAS 7 621 532 47 556 398 47 641 618 7 536 312Debts from sale of main products (services) 37 856 361 205 127 597 215 948 124 27 035 834including: indicate major debtorsTrade House KazMunaiGaz AG 26 370 774 134 528 199 143 099 031 17 799 942Esomet SAS 7 621 532 47 556 398 47 641 618 7 536 312Total accounts receivable 37 943 650 205 127 597 215 948 124 27 123 123 3. Loans. (30.06.2006., ths. tenge) Name of creditor on Loan currency Average Opening Debit Credit Closing Maturity dateloan rate, balance balance % per annumLoan from the World US dollar 6,30% 5 644 377 1 430 354 737 503 4 951 526 Feb. 2013Bank No 4061Loan from the World US dollar 7,05% 196 455 49 295 5 952 153 112 Oct. 2010Bank No 3744Esomet US dollar 6,35% 66 598 220 18 064 293 2 151 362 50 685 289 Sep. 2009Loan from the US dollar 4,87% 1 153 526 130 531 25 759 1 048 754 undefinedSultanate of OmanPast costs US dollar 0,00% 697 960 34 244 286 993 950 709 Dec. 2009 - Dec. 2025.Other long-term Tenge 8,00% 8 530 2 956 11 486 2007.loans -Short-term loans Tenge 8,00% 850 847 725 526 14 074 139 665 2006.Total 75 149 915 20 433 973 3 224 599 57 940 541 (30.06.2006, ths. tenge) Name of creditor on loan End-of-period Payable sum loan sum, total 2006 for the 2007 2008 2009 2010-2013 second half of the yearLoan from the World Bank 4 951 526 538 853 1 077 705 1 077 705 1 077 705 1 179 558No 4061Loan from the World Bank 153 112 20 961 41 921 34 023 30 052 26 155No 3744Esomet 50 685 289 7 873 378 15 746 757 15 746 757 11 318 397Loan from the Sultanate of 1 048 754 1 048 754OmanPast costs 950 709 34 752 41 600 64 644 64 644 745 070Other long-term loans 11 486 11 486Short-term loans 139 665 139 665Total 57 940 541 8 607 609 17 968 223 16 923 128 12 490 798 1 950 783 4. Accounts payable, concerned with performing core activities. (30.06.2006., ths. tenge) Type of account payable Opening balance Debit Credit Closing balanceLong-term, total - - - -including: the names of major creditors - - - -should be indicatedShort-term, total 51 167 595 255 771 319 204 603 724 32 669 391including: the names of major creditorsshould be indicatedNC KMG JSC - - 3 500 000 3 500 000ABN AMRO TRANSTIS LIMITED 337 636 3 190 879 3 448 189 594 946MunaiFieldService JSC 421 310 3 266 796 3 536 636 691 150Total account payable 51 167 595 255 771 319 204 603 724 32 669 391 5. Financial results analysis. Incomes: ths. tenge Name of article 6 months of 2006 6 months of 2005 Deviation %Export:Crude oil 175 470 316 128 387 834 47 082 482 37%Oil products 0 651 491 - 651 491 - 100%Domestic market:Crude oil 16 347 236 0 16 347 236Oil products 4 905 778 17 467 517 -12 561 739 - 72%Gas products 1 704 835 1 750 142 -45 307 - 3%Other incomes and services 1 808 516 1 435 282 373 234 26%Total incomes 200 236 681 149 692 266 50 544 415 34% Operating expenses: ths. tenge Name of article 6 months of 2006 6 months of 2005 Deviation %Transportation charges 20 248 008 18 710 739 1 537 269 8%Compensation to employees 17 281 509 15 654 874 1 626 635 10%depreciation, exhaustion and amortization 14 469 805 10 138 814 4 330 991 43%Maintenance and repair services 8 392 329 6 620 216 1 772 113 27%Royalty 7 396 026 6 863 471 532 555 8%Materials 5 619 881 4 464 799 1 155 082 26%Management fee and selling commission 3 773 312 5 967 544 -2 194 232 -37%Social sphere 3 787 888 814 545 2 973 343 365%Power 3 038 195 2 591 846 446 349 17%Taxes, apart from income tax 3 592 009 1 913 430 1 678 579 88%Penalty fees -281 077 1 934 931 -2 216 008 -115%Reversing entry on ecology -11 427 891 0 -11 427 891 N/AOther 4 467 840 7 664 104 -3 196 264 -42% Total costs 80 357 834 83 339 313 -2 981 479 -4% 6. Other relevant information. • volume of investment in primary production;for the accounting period investment in primary production was 28 642 598thousand tenge; • bringing into service new production capacities or reduction of operational ones (shops, organization departments, other);for the accounting period the Company has not brought into service newproduction capacities and has not reduced operational ones. • Changes in the range of output products; for the accounting period there have not been any changes in the range ofoutput products • establishment of branches and/or representative offices of emitter with total headcount and location indicated;for the accounting period there have not been established any branches and/orrepresentative office by the Company • implementation of new technologies;for the accounting period no new technologies have been implemented by theCompany • development or contraction of emitter's production distribution market; for the accounting period there have been no development or contraction made bythe Company • changes in the composition of major suppliers and/or emitter's consumer;for the accounting period there have been no changes made in the composition ofmajor suppliers and/or consumers. Chief Executive Officer A. Balzhanov Chief Accountant R. Kuzenbayev This information is provided by RNS The company news service from the London Stock Exchange