Exillon Energy Plc February Production Report (5305J)
April 03 2018 - 1:01AM
UK Regulatory
TIDMEXI
RNS Number : 5305J
Exillon Energy Plc
03 April 2018
Exillon Energy plc
February Production Report
03 April 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
February 2018 ("the Period").
-- Our average daily production([1]) was 9,392 bbl/day during the period.
-- Average daily production for Exillon TP was 2,348 bbl/day,
and for Exillon WS it was 7,044 bbl/day during the period.
-- Our peak daily production([) (2]) was 9,590 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
26,019 tonnes for Exillon WS, 8,850 tonnes for Exillon TP and
34,869 tonnes for the Group during the 28 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
This information is provided by RNS
The company news service from the London Stock Exchange
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