London Stock Exchange welcomes Nostrum Oil & Gas PLC to the Main Market Premium Segment
London Stock Exchange today welcomes Nostrum Oil & Gas PLC (Nostrum), an independent oil and gas exploration and production company, to the premium listing segment of the Official List on the Main Market.
Nostrum is an independent oil and gas company engaged in the exploration and production of oil and gas products in the pre-Caspian Basin. The Company currently owns and operates four fields in Kazakhstan.
The principal producing asset is the Chinarevskoye field with estimated gross proved in the vicinity of the Chinarevskoye field and its Gas Treatment Facility (GTF).
Nostrum focuses on creating long-term shareholder value through the discovery and development of oil and gas reserves, as well as the production and sale of crude oil, stabilized condensate, LPG and dry gas. The company has a highly skilled management team, which has developed numerous major infrastructure projects and significantly expanded the company’s reserve base over the past nine years, through its own appraisal work and successful M&A activity.
The group has established stable production with total average daily production of 46,178 boepd for the year ended 31 December 2013. It is currently developing the second phase of its gas treatment facility that is expected to double the annual production to more than 100,000 boepd by the end of 2016.
The Partnership’s GDRs have been trading on the London Stock Exchange since 2008 and the move to a premium listing represents a natural evolution as the group grows and develops its operations.
Frank Monstrey, Executive Chairman of Nostrum Oil & Gas PLC, commented:
"The premium listing on the London Stock Exchange reflects our development into a successful, mature oil and gas producer. We believe that the move will strongly benefit our shareholders and our growth strategy, through increased liquidity and profile on the international markets. We already have a successful six-year track record as a London-listed company through our GDR programme. We look forward to taking this to the next level with the premium listing, which we feel will underpin the strong growth trajectory we see ahead of us."