Exillon Energy Plc Drilling Update (5995J)

TIDMEXI

RNS Number : 5995J

Exillon Energy Plc

18 July 2013

Exillon Energy plc

Drilling Update

18 July 2013

Exillon Energy plc, a London Premium listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), today issues a drilling update.

Production Expectations

We intend to give an update on our production expectations for 2013 along with our H1 reviewed financial results. These are expected to be released in late August.

Exillon WS

EWS I - 91

Well EWS I - 91 was drilled on the central part of the north-west extension of the EWS I field. The well was spudded on the 18(th) May 2013 and drilled and cemented in 20 days. The well encountered the Jurassic P reservoir at 1,856 meters, confirming 4.3 meters of effective vertical net oil pay and 7.2 meters of net pay along the well bore.

The well is currently operating with a submersible pump flowing oil at 377 bbl/day. The well was drilled 1.2 km to the north-west of Pad 9, and is now connected to our existing production facilities.

EWS I - 72

Well EWS I - 72 was drilled on the margin of the northern extension of the East EWS I field. The well was designed to test the productivity of the margin of the field which represents a transitional zone between collector quality sands and non-collector.

The well was spudded on the 8(th) June 2013 and drilled and cemented in 18 days. The well encountered the Jurassic P reservoir at 1,876 meters, confirming 4.3 meters of effective vertical net oil pay.

The well is currently operating with a submersible pump flowing oil at 94 bbl/day. The well was drilled 0.6 km to the north of Pad 7.

Exillon TP

Appraisal well North ETP VI - 3

Appraisal well North ETP VI - 3 was designed to test northern extension of the North ETP VI field.

The well was spudded on 27 March 2013 and drilled and cemented in 84 days. The well encountered Lower Silurian reservoir at 3,175 metres, confirming 12.2 metres of absolute effective net oil pay.

The well is currently being tested with natural oil rates to surface ranging from 488 bbl/day on an 18 mm choke to 92 bbl/day on a 6 mm choke. The well was drilled vertically from Pad 3, and is now connected to existing production facilities.

Exploration well ETP VI - 2

Exploration well ETP VI - 2 was drilled on the southern tip of the ETP VI structure. The well was spudded on 29 April 2013 and drilled and cemented in 70 days.

45.5 meters of core were collected, which is represented by low permeability carbonates with no signs of hydrocarbon saturation. During a test the well did not produce oil.

We will re-assess the geological model of the area and intend to conduct a fracture survey. Two additional wells have been previously planned for drilling in this part of the field in 2013. No further drilling will be completed in this area of the field prior to the completion of the fracture survey.

Well ETP IV - 5002

Well ETP IV - 5002 was spudded on 12 February 2013 and drilled and cemented in 64 days on the northern part of the ETP IV field. The well encountered Lower Silurian reservoir at 3,272 metres, confirming 15.6 metres of absolute effective net oil pay. In addition, the well encountered Domanic reservoir at 3,245 metres, confirming 5.7 metres of absolute effective net oil. Due to the angled trajectory of the well bore, this well exposed 25.4 metres of effective net oil pay.

The well is currently operating with a submersible pump flowing oil at 8 bbl/day. To increase the flow rate from this well we will consider conducting an acid hydrofrack in the upcoming winter season.

The well was drilled 0.9 km to the north-west of Pad 5, and is now connected to existing production facilities. Well ETP IV - 5002 is the last planned well from Pad 5.

Media contacts:

Tom Blackwell

Telephone: [phone]

Email: [e-mail]

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