30 Apr 2014 07:00
Exillon Energy plc
Quarterly Production Statement
30 April 2014
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"), today announces unaudited production data for the three-month period ending 31 March 2014.
Highlights
Our average daily production1 was 18,380 bbl/day in January, 18,090 bbl/day in February and 16,777 bbl/day in March.
The decrease of production in March 2014 was a consequence of oil pipeline repair works undertaken by Transneft and the temporary suspension of operations by certain oil refineries due to maintenance and repair works.
Production update
Production for Q1 2014 was as follows:
Jan | Feb | Mar | |
Exillon WS Avg. Production (bbl/day) | 14,491 | 14,230 | 12,885 |
Exillon TP Avg. Production (bbl/day) | 3,889 | 3,860 | 3,892 |
Avg. Production1 (bbl/day) | 18,380 | 18,090 | 16,777 |
Peak Production2 (bbl/day) | 18,871 | 18,348 | 18,352 |
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. The barrelization ratios used are 7.8037 bbl / tonne for Exillon WS and 7.44 bbl / tonne for Exillon TP.
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.
For further information:
EM +7 919 102 9064
Tom Blackwell blackwell@em-comms.com