Exillon Energy Plc April Production Report (4431Y)
May 09 2019 - 2:00AM
UK Regulatory
TIDMEXI
RNS Number : 4431Y
Exillon Energy Plc
09 May 2019
Exillon Energy plc
April Production Report
9 May 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 April 2019 ("the
Period").
-- Our average daily production([1]) was 12,021 bbl/day during the period.
-- Average daily production for Exillon TP was 2,368 bbl/day,
and for Exillon WS it was 9,168 bbl/day and for NPEC it was 485
bbl/day during the period.
-- Our peak daily production([) (2]) was 12,087 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 36,284
tonnes for Exillon WS, 9,561 tonnes for Exillon TP, 1,968 tonnes
for NPEC and 47,812 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 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
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