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29 Jun 2011 07:00
Exillon Energy
29 June 2011
Exploration Update
Exillon Energy plc (EXI.LN), a UK-listed FTSE 250 independent oil producer with assets in two oil-rich regions of northern Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce preliminary results from Exploration Well 4 (EWS-10274).
Exploration Well 4 was designed to test an area between the EWS I and EWS II fields. Preliminary results of wire line logging confirmed the presence of 6.7 meters of effective net oil pay in an area that has not been previously studied. These results have expanded the management's understanding of the outline of the EWS fields in a manner which may support further reserve growth.
The well encountered the Jurassic reservoir at 1,883 meters, and is currently being drilled deeper to assess the potential for further oil pay within the Pre Jurassic. Testing of the well is expected to be completed by the end of Q1 2012.
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