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Share Price: 5.30

Bid: 5.22

Ask: 5.82

Change: -0.12 (-2.21%)

Spread: 0.60 (11.494%)

Open: 5.30

High: 5.30

Low: 5.30

Prev. Close: 5.42

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Nostrum Oil restarts drilling at Chinarevskoye field in Kazakhstan

Tue, 19th Dec 2023 11:25

(Alliance News) - Nostrum Oil & Gas PLC on Tuesday said it has started re-drilling at well number 301 at the Chinarevskoye field in Kazakhstan.

The Kazakhstan-focused oil and gas development, production and exploration company said this marked the start of the re-entry well drilling programme at its Chinarevskoye field operations, to be executed over 2023 and 2024. It targets mid-2024 for the start-up of the well.

After completing the 301 well, Nostrum Oil said the rig will move to well number 41 for a sidetrack, expecting to bring that well on line in the third quarter of 2024.

"The programme will leverage existing wellbores to reduce costs and carries a level of uncertainties and risks as the planned subsurface targets contain multiple exploration, appraisal, and development objectives," Nostrum Oil said.

Shares were unchanged at 10.30 pence each on Tuesday morning in London. The stock is up from just 0.26p a year ago.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

More News

10 Mar 2023 12:13

Nostrum acquires 80% interest in Positive Invest in West Kazakhstan

(Alliance News) - Nostrum Oil & Gas PLC said on Friday it had agreed to acquire 80% of Positive Invest LLC for USD20 million.

16 Feb 2023 10:26

IN BRIEF: ICU Holdings stake in Nostrum Oil falls to 2.7% from 24%

Nostrum Oil & Gas PLC - exploration and production in pre-Caspian Basin - The stake held by ICU Holdings Ltd falls to 2.7% from 23.8%, due to dilution from a share issue. ICU holds 4.4 million voting rights. Previously, Nostrum said the stake held by Tengri Partners (Kazakhstan) LLP had fallen to 2.0% from 20.3%, for the same reason. Tengri holds 3.8 million voting rights. Also said the stake held by Dehus Dolmen Nominees fell to 1.8% from 16.2%. Tengri holds 3.8 million voting rights.

15 Feb 2023 12:25

IN BRIEF: Dehus Dolmen stake in Nostrum Oil falls to 1.8% from 16%

Nostrum Oil & Gas PLC - exploration and production in pre-Caspian Basin - The stake held by Dehus Dolmen Nominees Ltd falls to 1.8% from 16.2%, due to dilution from a share issue. Dehus holds 3.0 million voting rights. Previously, Nostrum said the stake held by Tengri Partners (Kazakhstan) LLP had fallen to 2.0% from 20.3%, for the same reason. Tengri holds 3.8 million voting rights.

14 Feb 2023 19:37

IN BRIEF: Nostrum Oil & Gas names new chair as Gupta leaves board

Nostrum Oil & Gas PLC - Independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin - Says Atul Gupta stepped down as executive chair from the board. Appoints Stephen Whyte as independent chair and a non-executive director. Says that Whyte is an experienced FTSE and AIM chair and non-executive director in the global energy sector with experience in Kazakhstan.

13 Feb 2023 10:22

IN BRIEF: Tengri Partners lowers stake in Nostrum Oil & Gas to 2.0%

Nostrum Oil & Gas PLC - Independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin - Says Tengri Partners (Kazakhstan) LLP has lowered its stake in the company to 2.03% from 20.34%. Tengri now holds 3.8 million voting rights.

9 Feb 2023 20:21

IN BRIEF: Nostrum Oil & Gas completes restructuring of senior notes

Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - Completes the implementation of the restructuring of its USD725 million 8.0% senior notes due July 2022 and USD400 million 7.0% senior notes due February 2025. This includes the exchange of a portion of its legacy notes debt for the issue of new notes. The new notes comprise USD250 million of new senior secured notes and USD300 million of senior unsecured notes. Further, the conversion of the remainder of the notes debt into shares, as well as the issue of new warrants, it adds.

6 Feb 2023 20:23

REPEAT: Nostrum says restructuring to be effective on Thursday

(Alliance News) - Nostrum Oil & Gas PLC on Monday said that the restructuring of its senior notes, sub-division of shares and share consolidation will be effective on Thursday.

6 Feb 2023 20:22

Nostrum Oil & Gas expects restructuring to be effective on Thurday

(Alliance News) - Nostrum Oil & Gas PLC on Monday said that the restructuring of its senior notes, sub-division of shares and share consolidation will be effective on Thursday.

30 Jan 2023 20:05

TRADING UPDATES: Aterian gains membership; Iconic converts notes

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

27 Jan 2023 11:37

Nostrum Oil & Gas production drops; no fatalities reported in 2022

(Alliance News) - Nostrum Oil & Gas PLC on Friday said it expects a revenue increase, despite a drop in production.

20 Jan 2023 19:53

TRADING UPDATES: RM Infrastructure investment manager buys shares

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

9 Jan 2023 20:41

TRADING UPDATES: Mobile Tornado loses CEO; DeepVerge revenue jumps

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

22 Nov 2022 21:37

IN BRIEF: Nostrum Oil & Gas sees revenue jump on higher oil prices

Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - In the nine months ended September 30, reports revenue of USD155.5 million, up against USD142.6 million the previous year. Earnings before interest, tax, depreciation and amortisation rise to USD94.9 million from USD84.1 million. Reports an average Brent oil price of USD102.50 per barrel during the period, up from an average price of USD67.90 per barrel the year prior. Daily sales volumes average 12,780 barrels of oil equivalent per day, down from 15,838 bodpd.

4 Nov 2022 20:38

TRADING UPDATES: SigmaRoc files patent; Griffin restarts operations

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

28 Oct 2022 14:44

TRADING UPDATES: Nostrum profits of Brent price; Scottish ups dividend

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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