Kazmunaigaz Exploration Regulatory News (KMG)

2 Oct 2007 11:06

JSC KazMunaiGas Exploration Prod02 October 2007 KazMunaiGas Exploration Production has successfully implemented SAP ERP Astana, 1 October, 2007 KazMunaiGas Exploration Production announced today thatthe program of implementing SAP ERP has been successfully finalized. The main objective of implementing SAP ERP is the creation of a multifunctionalautomated system of company management that works in real time and allows KMG EPto maintain efficient record keeping, reporting and monitoring functions of thebusiness. SAP ERP allows the Company to analyse business activities; business results;finance management; sales; management of material flows; planning; andmanagement of business contracts timely and efficiently. Implementation of SAP ERP optimises and standardises business processes ensuringcontrolled access to company records and a flexibility of approach toinformation management. This creates a business and financial data archive thatis crucial for the effective management and decision making process. Notes: KMG EP is the 2nd largest Kazakh oil producing company with over 9.5 mmt (192kbopd) of crude production in 2006 and 203.2 mmt (1.5 billion bbl) of proved andprobable reserves at the end of 2006. The Company's shares are listed onKazakhstan Stock Exchange and the GDRs are listed on London Stock Exchange. TheCompany raised approximately US$2 billion in its IPO in October of 2006. For further details please contact us at: KMG EP, Public Relations (+7 717 2 977 908, +7 7172 977 924) Lyazzat Kokkozova E-mail: pr@kmgep.kz KMG EP, Investor Relations (+7 7172 975433) Alexander Gladyshev E-mail: ir@kmgep.kz WMC Communications Ltd (+44 207 930 9030) Elena Dobson E-mail: Elena.dobson@wmccommunications.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 identifiedby the use of forward-looking terminology, including, but not limited to, theterms ''believes'', ''estimates'', ''anticipates'', ''expects'', ''intends'', ''may'', ''target'', ''will'', or ''should'' or, in each case, their negative orother variations or comparable terminology, or by discussions of strategy,plans, objectives, goals, future events or intentions. These forward-lookingstatements include all matters that are not historical facts. They include, butare not limited to, statements regarding the Company's intentions, beliefs andstatements of current expectations concerning, amongst other things, theCompany's results of operations, financial condition, liquidity, prospects,growth, potential acquisitions, strategies and as to the industries in which theCompany operates. By their nature, forward-looking statements involve risk anduncertainty because they relate to future events and circumstances that may ormay not occur. Forward-looking statements are not guarantees of futureperformance and the actual results of the Company's operations, financialcondition and liquidity and the development of the country and the industries inwhich the Company operates may differ materially from those described in, orsuggested by, the forward-looking statements contained in this document. TheCompany does not intend, and does not assume any obligation, to update or reviseany forward-looking statements or industry information set out in this document,whether as a result of new information, future events or otherwise. The Companydoes not make any representation, warranty or prediction that the resultsanticipated by such forward-looking statements will be achieved. This information is provided by RNS The company news service from the London Stock Exchange