Nostrum Oil & Gas

Nostrum Oil & Gas is an independent oil and gas company, engaged in the production, development and exploration of oil and gas. Co. operates three exploration concessions and are primarily conducted through its oil and gas producing subsidiary Zhaikmunai LLP located in Kazakhstan. Zhaikmunai LLP carries out its activities in accordance with the Contract for Additional Exploration, Production and Production-Sharing of Crude Hydrocarbons in the Chinarevskoye oil and gas condensate field for the exploration and production of hydrocarbons in Chinarevskoye oil and gas condensate field.
  • TickerNOG
  • ISINGB00BGP6Q951
  • ExchangeLondon Stock Exchange
  • SectorOil & Gas Producers
  • CountryUnited Kingdom
Kiti Pantskhava

Nostrum Oil: Q2 20 surprises with steady production; no updates on restructuring

Reiterate Hold. Nostrum Oil reported Q2 20 financial results delivering higher sales volumes than implied by the production decline rate derived from management's FY 20 guidance. This supports revenues, EBITDA and cash flow temporarily, but does not change the basic premise of the investment case: Nostrum's upstream operations are too small to justify its high leverage. In H1 2O, the net debt-to-EBITDA ratio increased to 8.2x, and interest coverage reduced to 1.5x. The company initiated restr...

Nostrum Oil & Gas: 1 director sold

A director at Nostrum Oil & Gas sold 16,111,100 shares at 8.5p and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Kiti Pantskhava

Nostrum Oil: Hold and prepare for a long restructuring

We upgrade NOGLN 22s and 25s to Hold.After the publication of FY 19 financial results and a conference call hosted by the new management team, we carefully examineeverything we know about Nostrum to evaluate possible restructuring outcomes. Nostrum’s business in its current shape is weak and is not sustainable with oil prices below US$60/bbl. The good news is that management has given up efforts to turn around upstream and instead focus on monetising the recently completed gas processing faci...

NOSTRUM OIL & GAS PLC. sees an upgrade to Slightly Negative thanks to a better star rating, but the title remains unattractive

The independent financial analyst theScreener just awarded an improved star rating to NOSTRUM OIL & GAS PLC. (GB), active in the Exploration & Production industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 2 out of 4 possible stars. Given its market behaviour as risky, theScreener considers that these elements allowing slightly upgrading its general evaluation to Slightly Negative; the title, however, remains unattractive. As of the analysis date April 10, 2020, the closing price was GBp 9.31 and its target price was estimated at GBp 1.40.

Kiti Pantskhava

Nostrum Oil: Here comes debt restructuring

Reiterate Sell.Nostrum Oil released an operating update focusing on three key messages: 1) a massive downgrade of reserves, 2) the termination of a formal sales process, and 3) debt restructuring. With oil price below Nostrum's operating breakeven level (according to our estimates), the absence of third party gas processing contracts and failed efforts to monetise existing assets through the formal sales process, the company has little to offer bondholders. We reiterate our Sell recommendatio...

Nostrum Oil & Gas: 1 director sold

A director at Nostrum Oil & Gas sold 16,111,100 shares at 8.5p and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior

Research Team

WOOD Flash – Nostrum Oil & Gas: coverage under review

We have decided to put our coverage of Nostrum Oil & Gas under review, effective immediately. We caution against using the forecasts, ratings and price target guidance issued previously on the stock.

Research Team

The Rear-View Mirror – EME markets: Soft performance across markets and sectors in August

EME Equity Market – August 2019 Market performance – pressure on all markets, only the BET flattish. The MSCI EME contracted by 4.9% mom in August, while the ASE index fell by 3.5% and Moscow’s index dropped by 3.8%. Bucharest’s BET index was the only one to rise, if onl