Second Quarter 2018 Operational and Financial Results
Disclaimer - Forward Looking Statement
Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The words "believe,"
"expect," "anticipate," "intends," "estimate," "forecast," "project," "will," "may," "should" and similar expressions identify forward-looking statements. Forward-looking
statements include statements regarding: strategies, outlook and growth prospects; future plans and potential for future growth; liquidity, capital resources and capital
expenditures; growth in demand for our products; economic outlook and industry trends; developments of our markets; the impact of regulatory initiatives; and the strength
of our competitors.
The forward-looking statements in this presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without
limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these
assumptions were reasonable when made, these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to
predict and are beyond our control and we may not achieve or accomplish these expectations, beliefs or projections. In addition, important factors that, in our view, could
cause actual results to differ materially from those discussed in the forward-looking statements include:
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changes in the balance of oil and gas supply and demand in Russia and Europe;
the effects of domestic and international oil and gas price volatility and changes in regulatory conditions, including prices and taxes;
the effects of competition in the domestic and export oil and gas markets;
⚫ our ability to successfully implement any of our business strategies;
⚫ the impact of our expansion on our revenue potential, cost basis and margins;
⚫ our ability to produce target volumes in the face of restrictions on our access to transportation infrastructure;
⚫ the effects of changes to our capital expenditure projections on the growth of our production;
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inherent uncertainties in interpreting geophysical data;
commercial negotiations regarding oil and gas sales contracts;
changes to project schedules and estimated completion dates;
potentially lower production levels in the future than currently estimated by our management and/or independent petroleum reservoir engineers;
⚫ our ability to service our existing indebtedness;
⚫ our ability to fund our future operations and capital needs through borrowing or otherwise;
⚫ our success in identifying and managing risks to our businesses;
⚫ our ability to obtain necessary regulatory approvals for our businesses;
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the effects of changes to the Russian legal framework concerning currently held and any newly acquired oil and gas production licenses;
changes in political, social, legal or economic conditions in Russia and the CIS;
the effects of, and changes in, the policies of the government of the Russian Federation, including the President and his administration, the Prime Minister, the Cabinet
and the Prosecutor General and his office;
⚫the effects of international political events;
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the effects of technological changes;
the effects of changes in accounting standards or practices; and
inflation, interest rate and exchange rate fluctuations.
This list of important factors is not exhaustive. When relying on forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and
events, especially in light of the political, economic, social and legal environment in which we operate. Such forward-looking statements speak only as of the date on which
they are made. Accordingly, we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. We do
not make any representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements
represent, in each case, only one of many possible scenarios and should not be viewed as the most likely or standard scenario.
The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice.
By participating in this presentation or by accepting any copy of this document, you agree to be bound by the foregoing limitations.
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