Kazmunaigaz Exploration Regulatory News (KMG)

29 May 2008 14:33

Press-release

JSC «KazMunaiGas Exploration Production» held an Open Day Event

Astana, May 29, 2008. JSC «KazMunaiGas Exploration Production» («KMG EP», «The Company») announced that it held an Annual Open Door Special Event to present the Company's financial and operational information. 

Equity analysts from multinational financial institutions, representatives of the media, KMG EP's senior management, and representatives of National Company KMG and Samruk, the Kazakh state holding for public assets management participated in this event. 

The First Deputy of the Director General of KMG EP, Mr Miroshnikov in his welcome speech said: "The Open Door Special Event is highly important and we are grateful to all present for supporting it. This is the second year running that the Company hosts this event which is a sign of our continued commitment to the principles of transparency and high standards of corporate governance." 

At the event KMG EP held a briefing on its major business activities, including operational, financial and business strategies, M&A, corporate governance and investor relations. The Company also provided an update on all Corporate Social responsibility activities and initiatives. One of the topics discussed during the presentation was the changes in the local fiscal regime with the introduction of new export duties and potential changes in the country's Tax Code.

The materials on the KMG EP OPEN event are posted on the Company's website www.kmgep.kz.

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Notes to Editors

KMG EP is the 2nd largest Kazakh oil producer with over 10.6 mmt (215kbopd) 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 Kazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. The Company raised approximately US$2bn in its IPO in September of 2006.

For additional information please contact:

KMG EP, Public Relations (+7 717 297 7600, +7 717 297 7924) 

Zukhra Sultanova

E-mail: pr@kmgep.kz 

KMG EP, Investor Relations (+7 717 297 5433) 

Alexander Gladyshev 

E-mail: ir@kmgep.kz 

WMC Communications Ltd / Pelham PR (+44 20 3178 4418) 

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.