Exillon Energy Plc November Production Report (4297A)
December 28 2017 - 1:01AM
UK Regulatory
TIDMEXI
RNS Number : 4297A
Exillon Energy Plc
28 December 2017
Exillon Energy plc
November Production Report
28 December 2017 - 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
November 2017 ("the Period").
-- Our average daily production ([1]) was 10,207 bbl/day during the period.
-- Average daily production for Exillon TP was 2,333 bbl/day,
and for Exillon WS it was 7,874 bbl/day during the period.
-- Our peak daily production ([) (2]) was 10,462 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
31,162 tonnes for Exillon WS, 9,419 tonnes for Exillon TP and
40,581 tonnes for the Group during the 30 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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