6 Dec 2013 07:00
Exillon Energy plc
Extension to EWS I field
6 December 2013
Exillon Energy plc (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 that on 3 December 2013 the Ministry of Natural Resources registered an extension (State Registration No.4315) to the Company's EWS I field. In Russian, this field is called "West Kayumovsky".
The extension delineates the newly understood geological contours of the field and covers 53.7 km2 of previously unlicensed territory immediately bordering the north eastern edge of EWS I. This is close to our Well Pads 5 and 7, and to our existing oil production infrastructure. The total aerial extent of the EWS I licence area is now 604.2 km2, an increase of just under 10%.
The new extension has oil reserves under the Russian C2 classification of 4.04 million tonnes. It is not possible to make a direct comparison with reserves audited under international PRMS standards.
In accordance with the Ministry of Natural Resources Order #985, dated 29-11-2013, a payment of 68.3m Russian Roubles (approximately US$2m) is payable to the Ministry of Natural Resources for this extension within 30 days.
Media contact:
Tom Blackwell +7 919 102 9064
+44 7432 680606