OREANDA-NEWS. November 12, 2009. OAO NOVATEK announced that it will release its unaudited consolidated interim condensed financial information as of and for the three and nine months ended 30 September 2009, prepared in accordance with International Financial Reporting Standards (“IFRS”), on 13 November.

The Company would like to draw the attention of investors and analysts to certain events that occurred during the three months ended 30 September 2009 (3Q 2009) that had a direct impact on our revenues and expenses during the period.

1.      During the quarter we recorded eight (8) tankers as sold, or approximately 467 thousand tons of stable gas condensate, representing an increase of 41.9% over the corresponding 3Q 2008.  We previously indicated in our 3Q 2009 operational results press release that seven (7) tankers were shipped for export; however, after further review, it was determined that the additional tanker satisfied the IFRS requirements for recognition as sold during the period.

2.      At period end, we recorded approximately 503 million cubic meters of natural gas and 202 thousand tons of stable gas condensate as inventory.

3.      During the quarter our average transportation distance per thousand cubic meters for traders in remote points decreased by approximately 29.7% compared to the 2Q 2009, thus enhancing average netbacks during the quarter.

The Company will provide more information regarding these and other matters pertaining to the financial results in its unaudited consolidated interim condensed financial information for the three and nine months ended 30 September 2009 and during its upcoming earnings conference call. Specific details on the earnings conference call will be provided next week.