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LandSverige
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SektorRåvaror
IndustriOlja & gas
Shelton Petroleum är ett svenskt bolag med inriktning på prospektering av olja och gas i Ryssland och Ukraina. Företaget hette tidigare Petrosibir.

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2018-05-11 11:45:02

Petrosibir is pleased to announce the final results of the Sosnovskoye drilling and fraccing campaign and a status update for our Bashkirian operations.

OPERATIONAL UPDATE

Petrosibir is pleased to announce the final results of the Sosnovskoye drilling and fraccing campaign and a status update for our Bashkirian operations.

Komi

The drilling and fraccing campaign at the Sosnovskoye oil field in Komi commenced in 2017 and included a total of six wells. Operations have now been completed with the fraccing of the two remaining wells (##33 and 36). The table below table summarises the results of this campaign and includes initial flow rates following drilling and fraccing and also the current flow rates.

WellPost drilling initial
flow rate, bopd
Post fraccing, Initial
flow rate, bopd
Current flow
rate, bopd
Sosnovskaya #33145217260
Sosnovskaya #344213137
Sosnovskaya #3519163101
Sosnovskaya #36no flow4343
Sosnovskaya #397213181
Sosnovskaya #40not tested121217

Bashkiria

After the conclusion of the successful fraccing campaign at the Sosnovskoye field, the fraccing campaign will now switch to our Baskirian operations where we are scheduling to frac two wells during this summer. The Company is also focused on stabilising production with the help of water injection and well pump optimisation.

Pavel Tetyakov, CEO Petrosibir commented "These fraccing results are very encouraging with significant improvements in well productivity achieved at the Sosnovskoye field. We are now looking forward to seeing if we can replicate these results with our two well fraccing program at our Bashkirian operations scheduled for later this year".

For more information, please contact:
Pavel Tetyakov, CEO, Petrosibir, tel +46 8 407 1850
ptetyakov@petrosibir.com
Gunnar Danielsson, dep CEO / CFO Petrosibir, tel +46 70 738 0585
gunnar.danielsson@petrosibir.com

www.petrosibir.com

The following documents can be retrieved from beQuoted
Petrosibir Pressrelease 2018-05-11 English.pdf

About Petrosibir

Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. The company holds licences in the Russian republics of Bashkiria and Komi. Petrosibir's 2P oil and gas reserves amount to 35 million barrels of oil equivalent. The Petrosibir share is traded on the OTC-list at beQuoted under the symbol PSIB-B.

This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.