30 Aug 2018 07:00
Exillon Energy plc
July Production Report
30 August 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 July 2018 ("the Period").
· Our average daily production[1] was 8,801 bbl/day during the period.
· Average daily production for Exillon TP was 2,258 bbl/day, and for Exillon WS it was 6,543 bbl/day during the period.
· Our peak daily production[2] was 9,119 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 26,759 tonnes for Exillon WS, 9,420 tonnes for Exillon TP and 36,179 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
Blackwell@em-comms.com
+7 919 102 9064