Drilling Update

Exillon Energy plc

Drilling Update

11 September 2012

11 September 2012 - Exillon Energy plc (EXI.LN), a London Premium listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce a drilling update.

Drilling Update

Well East EWS I - 571 was spudded on 15th August 2012 and drilled and cemented in 18 days on the northern part of the East EWS I field. The well encountered the Jurassic P reservoir at 1,868 metres, confirming 17.8 metres of effective vertical net pay. Due to the angled trajectory of the well bore, this exposed 30.6 metres of effective net oil pay for production.

The well flowed water-free oil naturally to the surface with a test flow rate of 882 bbl/day on an 8 mm choke.

Well 571 is the fifth development well drilled from Pad 5 following the success of Exploration Well 50 in 2011. All five wells have shown consistent results. They have thicker than expected net pays, confirmed a highly permeable reservoir and none has discovered an oil water contact, proving a wider and thicker area of high quality reservoir across the northern extension of East EWS I. All five wells are currently flowing naturally, without pumps.

The well was drilled 1.2 km east of Pad 5, and is now connected to our existing production facilities. 

Media details:

Tom Blackwell

blackwell@mcomgroup.com +44 207 920 2330