Exillon Energy Plc February Production Report (8505K)

TIDMEXI

RNS Number : 8505K

Exillon Energy Plc

27 April 2020

Exillon Energy plc

February Production Report

27 April 2020 - 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 February 2020 ("the Period").

   --     Our a verage daily production ([1]) was 13,463 bbl/day during the period. 

-- Average daily production for Exillon TP was 2,052 bbl/day, and for Exillon WS it was 10,947 bbl/day and for NPEC it was 464 bbl/day during the period.

   --     Our p eak daily production ([) (2]) was 13,988 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 41,881 tonnes for Exillon WS, 8,008 tonnes for Exillon TP, 1,818 tonnes for NPEC and 5 1 ,707 tonnes for the Group during the 29 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.

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April 27, 2020 02:00 ET (06:00 GMT)