Exillon Energy Plc December Production Report (9132N)
January 24 2019 - 2:00AM
UK Regulatory
TIDMEXI
RNS Number : 9132N
Exillon Energy Plc
24 January 2019
Exillon Energy plc
December Production Report
24 January 2019 - 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
December 2018 ("the Period").
-- Our average daily production([1]) was 10,717 bbl/day during the period.
-- Average daily production for Exillon TP was 2,352 bbl/day,
and for Exillon WS it was 8,365 bbl/day during the period.
-- Our peak daily production([) (2]) was 11,614 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
34,211 tonnes for Exillon WS, 9,814 tonnes for Exillon TP and
44,025 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.
Media contacts:
Tom Blackwell, EM
Blackwell@em-comms.com
+7 919 102 9064
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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
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