TIDMEXI

RNS Number : 9945K

Exillon Energy Plc

28 April 2020

Exillon Energy plc

March Production Report

28 April 2020 - 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 March 2020 ("the Period").

   --     Our a verage daily production ([1]) was 14,125 bbl/day during the period.

-- Average daily production for Exillon TP was 2,197 bbl/day, and for Exillon WS it was 11,553 bbl/day and for NPEC it was 375 bbl/day during the period.

   --     Our p eak daily production ([) (2]) was 14,584 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. The barrelization ratio used for NPEC is 7.4 bbl / tonne. Total production was 47,250 tonnes for Exillon WS, 9,165 tonnes for Exillon TP, 1,570 tonnes for NPEC and 57 ,985 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DRLUBSARRVUSUAR

(END) Dow Jones Newswires

April 28, 2020 02:00 ET (06:00 GMT)

Exillon Energy (LSE:EXI)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Exillon Energy Charts.
Exillon Energy (LSE:EXI)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Exillon Energy Charts.