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25 Sep 2008 08:04
PRESS - RELEASE
JSC KazMunaiGas Exploration Production held Extraordinary General Meeting of Shareholders
Astana, 25 September 2008. JSC KazMunaiGas Exploration Production ("the Company" or "KMG EP")
yesterday held an Extraordinary General Meeting ("EGM"). At the meeting new members were elected to the Board of Directors, an external auditor of the Company for the 2008 fiscal year was appointed and some changes to the Company Charter were approved.
Following staff changes in the management of the KMG EP's major shareholder, JSC National Company KazMunayGas ("NC KMG"), shareholders of KMG EP discussed and approved termination of the duties of Mr. U. Karabalin and Ms. Zh. Satubaldina as members of the Board of Directors of KMG EP.
Mr. K.Kabyldin, President of NC KMG, and Mr. T.Bozzhanov, Vice-President of NC KMG, have been elected to the Board of KMG EP.
The shareholders re-appointed Ernst and Young Kazakhstan LLP an external auditor of the Company for the 2008 fiscal year. Also some changes to the Company's Charter regarding the Company's risk management and treasury policy were approved.
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Notes to Editors
Mr. Kabyldin graduated from Kazakhstan Polytechnical Institute specializing in Systems Engineering. Since August 2008 he is the President of JSC NC KazMunayGas. From September 2007 till August 2008 he worked as a Deputy Chairman of JSC National Holding "Samruk". From July 2007 till September 2007 Mr.Kabyldin worked there as a Vice-President , and prior to that, from April 2003 till July 2007 - as the Managing Director for Trasport and Services Infrastructure at NC KMG. His services to the Oil and Gas industry of Kazakhstan have been noted by the State.
Mr. Bozzhanov graduated from the State University of Kazakhstan specializing in Physics. He has also graduated from the Construction Academy of Kazakhstan specializing in Economics and was awarded a Degree in Economics from the University of Warwick (UK). From July 2008 he works as a Vice-President of NC KMG. From 2006 till July 2008 he was a General Director of JSC Trading House KazMunayGas, and prior to that from August 2004 till 2006 Mr Bozzhanov worked as an Executive Director of JSC NC KazMunayGas.
KMG EP is the second largest Kazakh oil producer with over 10.6 mmt (215 kbopd) of crude oil production in 2007 including shares in production of Kazgermunai and CCEL, and 240 mmt (1.8bn bbl) of proved and probable reserves at the end of 2007 (over 2 bn bbl including interests in Kazgermunai and CCEL). The Company's shares are listed on the Kazakh 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.
For additional information please contact:
KMG EP Public Relations (+7 7172 977924, +7 7172 977927)
Ms Zukhra Sultanova
Email: pr@kmgep.kz
KMG EP Investor Relations (+7 7172 975433)
Mr Alexander Gladyshev
Email: ir@kmgep.kz
Pelham PR (+44 203 178 44 18)
Mrs Elena Dobson
Email: Elena.dobson@pelhampr.com
Future related announcements/ statement
This document contains announcement that are, or may be deemed to be "future related announcements". These announcements can be identified by the use of future related terminology, including, but not limited to, the terms "believes", "anticipates", "estimates", "intends", "plans", "sets", "will" or"should" or, in each case, by their matching or comparable terms, or by references to the discussions, plans, objectives, goals, prospective events or intentions. These specified announcements include all the matters that are not historical facts. These include and are not limited to, the announcements related to the Company's intentions, beliefs, and statements of current expectations concerning, amongst other things, the Company's expectations on operation results, financial condition, liquidity, prospects, growth, potential acquisitions, strategies and the industries in which the Company operates. Naturally, the future related announcements bear a risk and uncertainty, since they are related to future events and circumstances, which may or may not occur. These announcements are not guarantees of the Company's future performance and the actual results of its operations, its liquidity and financial condition; and the development of the country and the industries in which the Company operates may differ from those described in, or suggested by, the future related announcements contained in this document. The Company does not intend, and does not assume any obligation, to update or revise any future related announcement or industry information set out in this document, whether as a result of new information, future developments or otherwise. The Company does not make any representation, warranty or prediction that the results anticipated by such future related announcements will be achieved.
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