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Nostrum Oil & Gas issues Q1 operational update

27 April 2016 09:39

Nostrum Oil and Gas confirmed average daily production of 38,754 boepd (including one week of scheduled maintenance at the end of March) at the pre-Caspian Basin in the three months to end-March.

It added that the GTU3 construction was progressing on schedule for completion in 2017, and said Q1 2016 revenue is expected to be more than USD70m.

The company's cash position at March 31 was more than USD140m (including short-term deposits), while total debt remained at USD960m and net debt was about USD820m.

At 9:39am: (LON:NOG) Nostrum Oil Gas Plc Ord 1p share price was +15.63p at 296.88p

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