EXI8 May 2012 08:42
April Production Report
In the latter part of April production climbed to a historical peak of 12,810 bbl/day, up by 5.2% from the latest historical peak of 12,177 bbl/day reached in March.
The impact of increased production was offset by shutting in key producing wells for scheduled workovers in Exillon TP, which resulted in an average Exillon TP production for the month declining to 2,844 bbl/day from 3,261 bbl/day, and Group production declining to 11,463 bbl/day from 11,785 bbl/day in the earlier month. All workovers were successful and Exillon TP current production rate is 3,839 bbl/day.
In May, the Group expects to carry out planned optimization of the pipeline in Exillon WS, which requires installation of booster pump station in the vicinity of EWS II field, and a tie in of pipeline from well pads 5 and 6. During infrastructure optimizations, we may need to temporarily shut in some wells in Exillon WS, which may impact average production numbers during the month.
Before the end of the second quarter, the Group expects to complete wells 7601 in Exillon TP and 38 in Exillon WS, which were originally anticipated to be on stream in April. Operational expenses resulting from the delays are being borne by our subcontractors.
For the period covered by this Interim Management Statement (1 January to 30 April 2012) our production averaged 11,448 bbl/day. This is an increase of 55% over the 7,386 bbl/day in the equivalent period last year.