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Nostrum Oil & Gas ( (GB:NOG) ) has issued an announcement.
Nostrum Oil & Gas has announced a delay in interest payments on its senior secured and unsecured notes due to a payment administration issue requiring additional regulatory licenses related to sanctioned bondholders. This delay has resulted in an ‘Event of Default,’ although the company assures that it is not due to solvency or liquidity issues, as funds are available and secured. The company is actively seeking regulatory licenses and plans to launch a consent solicitation to amend payment methods and waive any defaults. The resolution process is expected to take several weeks, with noteholder meetings planned to expedite the process.
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.
The overall stock score is primarily influenced by substantial financial challenges and a weak valuation, offset slightly by a positive outlook from recent strategic corporate events. Technical analysis remains neutral, providing no clear directional trend.
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. Its shares are listed on the London Stock Exchange under the ticker symbol NOG. The company’s principal producing asset is the Chinarevskoye field, operated by its wholly-owned subsidiary Zhaikmunai LLP, which holds the subsoil use rights for its development. Nostrum also owns an 80% interest in Positiv Invest LLP, which holds subsoil use rights for the Kamenskoe and Kamensko-Teplovsko-Tokarevskoe areas in the West Kazakhstan region.
Average Trading Volume: 97,555
Technical Sentiment Signal: Strong Sell
Current Market Cap: £5.51M
See more data about NOG stock on TipRanks’ Stock Analysis page.