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Nostrum Oil & Gas ( (GB:NOG) ) has issued an announcement.
Nostrum Oil & Gas PLC has announced significant changes in its leadership and governance structure following a period of operational achievements. The company secured 138 million barrels of undeveloped proven reserves in its Stepnoy Leopard fields, extended a gas processing agreement with Ural Oil & Gas to 2031, and implemented a cost-effective rejuvenation campaign for the Chinarevskoye field. As part of its strategic transition, CEO Arfan Khan and non-executive director Chris Hopkinson have stepped down, with Viktor Gladun proposed as the new CEO. These changes aim to facilitate the company’s focus on executing and monetizing value-creating projects, including the development of a midstream business to support the commercial development of the Stepnoy Leopard field.
The most recent analyst rating on (GB:NOG) stock is a Buy with a £13.00 price target. To see the full list of analyst forecasts on Nostrum Oil & Gas stock, see the GB:NOG Stock Forecast page.
Spark’s Take on GB:NOG Stock
According to Spark, TipRanks’ AI Analyst, GB:NOG is a Neutral.
Nostrum Oil & Gas’s overall stock score is impacted by significant financial challenges, including negative profitability and high leverage. However, positive corporate events and strategic developments offer some long-term potential, though current technical indicators suggest caution.
To see Spark’s full report on GB:NOG stock, click here.
More about Nostrum Oil & Gas
Nostrum Oil & Gas PLC is an independent mixed-asset energy company with world-class gas processing facilities and an export hub in north-west Kazakhstan. The company’s shares are listed on the London Stock Exchange under the ticker symbol NOG. Nostrum’s principal producing asset is the Chinarevskoye field, operated by its subsidiary Zhaikmunai LLP, which holds the subsoil use rights for the field’s development. Additionally, Nostrum owns an 80% interest in Positiv Invest LLP, which holds subsoil use rights for the Stepnoy Leopard fields in the West Kazakhstan region.
Average Trading Volume: 122,506
Technical Sentiment Signal: Strong Sell
Current Market Cap: £5.61M
See more data about NOG stock on TipRanks’ Stock Analysis page.