2 May, 2007
”Kyrgyzneftegaz” JSC distributes 0.57 soms ($ 0.015) per share for year 2006
ABIndex: ”Kyrgyzneftegaz” JSC distributes 0.57 soms ($ 0.015) per share for year 2006
In april 16, 2007, took place the Annual general shareholders meeting of ”Kyrgyzneftegaz” (Kyrgyz oil gaz) OJSC. Below you can see some information that we have been pick out from the materials of the meeting.
One of the principal partner of ”Kyrgyzneftegaz” OJSC is a “Kyrgyz Petroleum Company” CJSC, which go in for producing of combustive-lubricating material (refinery processing), including from Kyrgyz crude oil, and also selling the mineral oil of own processing. Company works since 1996 and is still unique local oil produser in Kyrgyz Republic. The Australian “Jibek Resourses PLC” negotiates a contract with ”Kyrgyzneftegaz” OJSC by “Beshkent - Togap” field-development program with $ 192 000 total amount of investments in 2006.
At the reporting period the ”Kyrgyzneftegaz” OJSC make a contract on damage control at the inactive drillings with Chineese “Ten I” LLC. With all this going on, the chineese company supposes to invest about $ 12 million As a result the partners expecting to bring the additional oil production volume to the 90.000 ton during the 2007-2008.
By prior information, some analyst supposes that eventually ”Kyrgyzneftegaz” OJSC will create joint venture with Russian “Gazprom” CJSC. But such agreement will be signed after finishing exploration works on opening the new oil and gas fields on the territory of the Kyrgyz Republic.
At the accounting period the net profit come from financial and economic activity of ”Kyrgyzneftegaz” OJSC reached 55,6 million soms ($ 1,47 million). In 2005 net profit was about 45,3 million som ($ 1,20 million).
The general shareholders meeting dividends to shareholders fixed the 13.9 million soms to dividend payment (25 percent from net profit). Total amount of ”Kyrgyzneftegaz” OJSC issued stock is 24 202 862 shares. The dividend for 2006 fixed at 0,57 som ($ 0,15) per one share, and in 2005 0,47 som ($ 0,012) per one share.
There were 5 members, elected to the Board of Directors for the 2007:
Orozaliev Tabyldy - acting as chairman of Political Board of local party
Jumaliev Satybaldy - representative of State Comitee of state property
Karabaev Nurbek - ”Kyrgyzneftegaz” OJSC, economist
Abdullaev Omon - pensioner
Artykov Kubatbek - ”Kyrgyzneftegaz” OJSC, pumphouse operator
Remunerations and compensations to the members of Board of Directors of Kyrgyzneftegaz” OJSC in 2007 planned in total 1.2 million soms ($ 31.750).
Information prepeared by BNC Finance Investment Company in the context of ABIndex project, directed to disclosing the developments, going on the securities market of the Kyrgyz Republic.
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