Information  X 
Enter a valid email address

OAO Novatek (NVTK)

  Print      Mail a friend

Monday 24 April, 2006

OAO Novatek

Preliminary Operating Data for the 1Q 2006

OAO Novatek
                  

NOVATEK REPORTS PRELIMINARY OPERATING DATA

FOR THE FIRST QUARTER 2006

OAO NOVATEK today reported preliminary production data for the first quarter
2006. Gross production totaled 7.26 billion cubic meters of natural gas and 637
thousand tons of liquids (gas condensate and crude oil). Natural gas production
increased by 0.62 billion cubic meters, or 9.3%, whereas gross liquids
production increased by 113 thousand tons, or 21.7%, as compared with the
corresponding gross production in the first quarter 2005 (excluding asset
disposals)

In the first quarter 2006, NOVATEK processed 528 thousand tons of unstable
condensate at the Purovsky processing plant. Polymer production from OAO
NOVATEK-Polymer totaled 4.8 thousand tons.

NOVATEK hydrocarbon production for the first quarters 2006 and 2005

                                         1Q2006       1Q2005    QoQ%
----------------------------------------------------------------------
      Gross gas production, bcm               7.26        6.64    9.3%
----------------------------------------------------------------------
 Gross liquids production excluding
          asset disposals, mt                  637         524   21.7%
----------------------------------------------------------------------

Information provided in this press release presents expected results of OAO
NOVATEK operation in the first quarter 2006. It was generated based on the
latest preliminary operational and financial data which haven't been audited.
The information represents preliminary assessment only, which can be adjusted
after statistical, financial, fiscal and business reporting becomes available.
The information on the NOVATEK operation results in this press release depends
on many external factors and therefore, provided all permanent obligations
imposed by the London Stock Exchange listing rules are unconditionally observed,
cannot qualify for accuracy and completeness and should not be regarded as an
invitation for investment. Therefore, the results and indicators actually
achieved may significantly differ from any declared or forecast operation
results in 2006. ÎÀÎ NOVATEK assumes no obligation (and expressly declares that
it has no such obligation) to update or change any declarations concerning any
future results, both due to new information obtained, any future events or for
any other reasons.

For further information, please visit www.novatek.ru or contact:
Press Service                   Investor Relations
Mikhail Lozovoy                 Alexey Ivanov
+7 (495) 721 22 07              +7 (495) 730 6020
press@novatek.ru                ir@novatek.ru

OAO NOVATEK is Russia's largest independent gas producer and the second-largest
natural gas producer in Russia. Founded in 1994, the Company is engaged in the
exploration, production, processing and marketing of natural gas and liquid
hydrocarbons. The Company's upstream activities are concentrated in the prolific
Yamal-Nenets Region, which is the world's largest natural gas producing area and
accounts for over 90% of Russia's natural gas production and 20% of the world's
gas production. NOVATEK is an open joint stock company established under the
laws of the Russian Federation. The Company's shares are listed on the Russian
Trading System (RTS) and the London Stock Exchange (LSE) under the 'NVTK' ticker
symbol and on the NASDAQ PORTAL System as Rule 144A GDR under the 'NVATY'