3 Aug 2009 10:01
PRESS RELEASE
JSC KazMunaiGas Exploration Production
Close period share and GDR buy back procedure announcement
Astana, 03 August 2009. JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP") announces the share and global depositary receipt buy back procedure during the close period which precedes the Company's 1st half 2009 financial results announcement expected on September 04, 2009*. The close period is expected to begin on August 03, 2009 and end on September 04, 2009.
During the close period the Buy Back Programme (as announced on 20th of November, 2008) will be managed by the two independent brokers appointed to execute the Buy Back Programme within pre-set parameters which will be established by the Company prior to the start of the close period. The brokers will make trading decisions independently of, and uninfluenced by, the Company but otherwise in accordance with the Buy Back Programme approved by the Board of Directors on the 8th of October, 2008.
The Company hereby confirms that it is not aware of any unpublished price sensitive information relevant to the Company at the time of making of this announcement.
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\* The close period is a time interval preceding the disclosure of important information (such as financial annual reports) during which the Company and its management are not allowed to deal in the securities.
NOTES TO EDITORS
KMG EP is the second largest oil producer in Kazakhstan with over 11.95 mmt (240 kbopd) of crude oil production in 2008. There was 241 mmt (1.8bn bbl) of proved and probable reserves at the end of 2008 (over 2 bn bbl including interests in Kazgermunai and CCEL at the end of 2007). In 2007 KMG EP acquired 50% interests in JSC Kazgermunai and holding company CCEL (owns Karazhanbasmunai). The Company's shares are listed on the Kazakhstan Stock Exchange and the GDRs are listed on the London Stock Exchange. The Company raised over US$2bn as a result of its IPO in September of 2006. International rating agency Standard & Poor's (S&P) increased the Corporate Governance Score of KMG EP from CGS 5+ to CGS 6 and confirmed its «BB+» corporate credit rating in November 2008.
For further details please contact us at:
KMG EP, Public Relations (+7 7172 97 7600)
Daulet Zhumadil
E-mail: pr@kmgep.kz
KMG EP. Investor Relations (+7 7172 97 5433)
Asel Kaliyeva
E-mail: ir@kmgep.kz
Pelham PR (+44 20 7337 1517)
Elena Dobson
E-mail: Elena.dobson@pelhampr.com
Forward-looking statements
This document includes statements that are. or may be deemed to be. ''forward-looking statements''. These forward-looking statements can be identified by the use of forward-looking terminology. including. but not limited to. the terms ''believes''. ''estimates''. ''anticipates''. ''expects''. ''intends''. ''may''. ''target''. ''will''. or ''should'' or. in each case. their negative or other variations or comparable terminology. or by discussions of strategy. plans.
objectives. goals. future events or intentions. These forward-looking statements include all matters that are not historical facts. They include. but are not limited to. statements regarding the Company's intentions. beliefs and statements of current expectations concerning. amongst other things. the Company's results of operations. financial condition. liquidity. prospects. growth. potential acquisitions. strategies and as to the industries in which the Company operates. By their nature. forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Forward-looking statements are not guarantees of future performance and the actual results of the Company's operations. financial condition and liquidity and the development of the country and the industries in which the Company operates may differ materially from those described in. or suggested by. the forward-looking statements contained in this document. The Company does not intend. and does not assume any obligation. to update or revise any forward-looking statements or industry information set out in this document. whether as a result of new information. future events or otherwise. The Company does not make any representation. warranty or prediction that the results anticipated by such forward-looking statements will be achieved.