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Exillon Energy Plc (EXI)

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Tuesday 27 February, 2018

Exillon Energy Plc

January Production Report

RNS Number : 9540F
Exillon Energy Plc
27 February 2018
 

Exillon Energy plc

January Production Report

 

27 February 2018 - Exillon Energy plc ("Exillon Energy", the "Company" or the "Group") (EXI.LN), a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce unaudited production data for the month of January 2018 ("the Period").

·     Our average daily production1 was 9,568 bbl/day during the period.

·     Average daily production for Exillon TP was 2,342 bbl/day, and for Exillon WS it was 7,226 bbl/day during the period.

·     Our peak daily production2 was 9,753  bbl/day during the period.

 

 

 

 

 

Source: Average production data is based on monthly production reports submitted to tax authorities for MET payment purposes. Peak production is based on internal operations reports.

 

[1] The Company records production in metric tonnes.  Barrelization ratios are used for illustrative purposes only and are calculated based on the Company's estimate of the typical API of oil produced from specific fields. Starting from September 2016, the barrelization ratios used are 7.58 bbl / tonne for Exillon WS and 7.43 bbl / tonne for Exillon TP, as compared to previously used ratios of 7.8037 bbl / tonne for Exillon WS and 7.44 bbl / tonne for Exillon TP.  The ratios' adjustment relates to the change in estimates of the typical API based on the latest report on proved and probable reserves of the Group prepared by Miller and Lents Ltd, independent engineering consultants. Total production was 29,554 tonnes for Exillon WS, 9,772 tonnes for Exillon TP and 39,326 tonnes for the Group during the 31 days period.

[2] "Peak daily production" represents the Company's estimate of aggregate production on the day on which aggregate production reached its maximum during the period. It does not represent the combined peak production of each separate field on different days, which may be higher.

 

Media contacts:

Tom Blackwell, EM

[email protected]

+7 919 102 9064


This information is provided by RNS
The company news service from the London Stock Exchange
 
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