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Petrosibir: Results of fraccing 

Results of fraccing

Results of fraccing Petrosibir is pleased to announce the results of fraccing in the Ayazovskoye field, Bashkiria. Wells ##9 and 54 were fracced in August as announced earlier. The production has now stabilised, the current volumes are almost double compared to pre frac rates. Please see the table below for more details.

Well Pre frac Post frac Initial Current
  flow rate, bopd flow rate, bopd flow rate, bopd
Ayazovskoye #9 14 44 25
Ayazovskoye #54 15 26 25

Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a production licence in Bashkiria. Petrosibir also owns 49% of the Cypriot company Ripiano, whose wholly owned Russian subsidiaries hold three production licences in Komi.

Stockholm, September 18, 2018

For more information, please contact:
Pavel Tetyakov, CEO, Petrosibir, tel +46 8 407 1850
[email protected]
Gunnar Danielsson, dep CEO / CFO Petrosibir, tel +46 70 738 0585
[email protected]
www.petrosibir.com

The following documents can be retrieved from beQuoted
Petrosibir Pressrelease 2018-09-18-.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.

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