Exillon Energy Plc March Production Report (2605X)
April 29 2019 - 2:00AM
UK Regulatory
TIDMEXI
RNS Number : 2605X
Exillon Energy Plc
29 April 2019
Exillon Energy plc
March Production Report
29 April 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
March 2019 ("the Period").
-- Our average daily production([1]) was 11,772 bbl/day during the period.
-- Average daily production for Exillon TP was 2,372 bbl/day,
and for Exillon WS it was 8,956 bbl/day and for NPEC it was 444
bbl/day during the period.
-- Our peak daily production([) (2]) was 12,094 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 36,627
tonnes for Exillon WS, 9,898 tonnes for Exillon TP, 1,859 tonnes
for NPEC and 48,384 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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contact rns@lseg.com or visit www.rns.com.
END
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