REG - Nostrum Oil & Gas - Approval of Stepnoy Leopard Field Development Plan

Nostrum Oil & GasAnnouncement

04/04/2025 07:00

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RNS Number : 6251D  Nostrum Oil & Gas PLC  04 April 2025

 

 

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

FOR IMMEDIATE RELEASE

 

 

London, 4 April 2025

 

Ministry of Energy Approval of Stepnoy Leopard Field Development Plan

 

Nostrum Oil & Gas PLC (LSE: NOG) ("Nostrum", or the "Company" and together
with its subsidiaries, the "Group"), an independent mixed-asset energy company
with world class gas processing facilities and export hub in north-west
Kazakhstan, today announces that on 3(rd) April 2025 the Ministry of Energy of
the Republic of Kazakhstan approved a phased, full-field development plan
extending until 2044 (the "FDP") for the Stepnoy Leopard fields ("SL Fields")
in which Nostrum has an 80% working interest.

 

In July 2024, the Company provided a Stepnoy Leopard Competent Person's
Report, an independent third-party evaluation of the reserves and resources of
the SL Fields as at 1 January 2024 prepared by Xodus Group Limited, with 138
mmboe (including approximately 25% liquids) proved plus probable (2P) gross
reserves reported.

 

Arfan Khan, Chief Executive Officer of Nostrum Oil & Gas, commented:

 

"Obtaining the FDP approval for the SL Fields is a key project milestone in
the Company's mixed-asset strategy. Together with the recently announced new
UOG processing agreement extension, future production from the SL Fields will
improve materially the utilization of our world class 4.2 bcma gas processing
facilities and the resulting cashflows. A phased full-field development plan
also allows the Company to deploy optimum capital allocation, whilst meeting
its target production start-up date between late 2026 and early 2027."

 

 

LEI: 2138007VWEP4MM3J8B29

 

Further information

For further information please visit www.nostrumoilandgas.com
(http://www.nostrumoilandgas.com/)

 

Further enquiries

Nostrum Oil & Gas PLC
 

Petro Mychalkiw

Chief Financial Officer

ir@nog.co.uk (mailto:ir@nog.co.uk)
 
 

 

Instinctif Partners -
UK
 

Galyna Kulachek

Amelia Thorn

+ 44 (0) 207 457 2020

nostrum@instinctif.com (mailto:nostrum@instinctif.com)

 

Notifying person

Thomas Hartnett

Company Secretary

 

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC is an independent mixed-asset energy company with
world-class gas processing facilities and export hub in north-west Kazakhstan.
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 which is operated by its wholly-owned subsidiary Zhaikmunai LLP, which
is the sole holder of the subsoil use rights with respect to the development
of the Chinarevskoye field. The Company also owns an 80% interest in Positive
Invest LLP, which holds the subsoil use rights for the "Kamenskoe" and
"Kamensko-Teplovsko-Tokarevskoe" areas in the West Kazakhstan region (the
Stepnoy Leopard fields).

 

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 nor 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 relevant 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.

 

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