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An announcement from Nostrum Oil & Gas ( (GB:NOG) ) is now available.
Nostrum Oil & Gas PLC has announced a consent solicitation to address a payment delay on its senior secured and unsecured notes due in 2026, following an event of default due to delayed interest payments. The company assures stakeholders that the delay is not due to solvency or liquidity issues, as funds are available, but rather due to regulatory license requirements related to sanctioned bondholders. The consent solicitation aims to waive the event of default, offering a consent fee to noteholders who approve the waiver, with further fees possible if future payments are delayed. The resolution requires a 75% approval from noteholders, and the company is actively seeking to resolve these third-party regulatory issues.
The most recent analyst rating on (GB:NOG) stock is a Hold with a £4.00 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 primarily impacted by its poor financial performance, characterized by negative equity and profitability issues. The technical analysis provides a neutral outlook, while the valuation is unattractive due to negative earnings and lack of dividends. These factors collectively result in a low overall score.
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 principal producing asset is the Chinarevskoye field, operated by its wholly-owned subsidiary Zhaikmunai LLP, which holds the subsoil use rights for this field. The company 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: 40,768
Technical Sentiment Signal: Strong Sell
Current Market Cap: £5.76M
For an in-depth examination of NOG stock, go to TipRanks’ Overview page.