Operational summary 2019

As we are approaching the year end, we would like to summarise the Company's key events and achievements in year 2019.

As reported earlier in the fourth quarter of 2018 the Company successfully re-entered the old Soviet well #141 on the Aysky licence. Following the re-entry the well flowed a total of 150 barrels allowing the Company to file a reserve report for the newly discovered oil field. In 2019 we prepared the reserves report that was approved by the Russian State Reserves Committee. This resulted in 7.3 million barrels of recoverable AB1+B2 reserves of oil and a new production licence for the exploration and development of Aysky oil field received in July 2019. Test production in this new field commenced in August 2019.

We have successfully been working on slowing down the natural decline and stabilising production in the Ayazovskoye field, whilst further improving our understanding of our assets that has enabled us to prepare an exploration and development plan for the future.  At the same time, as an alternative strategy and as one of the options to maximise shareholder value we have been testing the market and have made some encouraging progress that may lead to more news in 2020.

The Komi assets, in spite of uneasy relationship on the corporate level, have produced some good operational results. In spite of the decline in Dinyu-Savinoborskoye field where production rapidly declined due to increased water cut in certain wells, the production from Yuzhno-Tebukskoye field was relatively stable, and the new drilling program in Sosnovskoye field (pad #3) demonstrated encouraging results. There are 7 more wells to be drilled in Sosnovskoye field by August 2020. The company has also continued the project to upgrade the Sosnovskoye field oil treatment facility including capacity expansion and new gas generation sets for both internal consumption and market sales.

Pavel Tetyakov, CEO of Petrosibir, comments: "I am very pleased with the positive results achieved by our team in 2019. With modest capital investments we have been able to maintain stable production levels at the same time as placing the new field in production. This is helping in our efforts to increase shareholder value in the future. Finally, since we are coming to the end of 2019, I would like thank our shareholders for continued support and wish you all Merry Christmas and Happy New 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 

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.

Bokslutskommuniké 2019

Januari-december 2019

  • Totala intäkter: 58 (63) mkr
  • Rörelseresultat: 4 (2) mkr
  • Årets resultat 4 (7) mkr
  • Resultat per aktie 0,14 (0,23) kr

Juli-december 2019

  • Intäkter: 30 (31) mkr
  • Rörelseresultat: 2 (-3) mkr
  • Periodens resultat 2 (-4) mkr
  • Resultat per aktie 0,07 (-0,13) kr

Year-end report January - December 2019

January - December 2019

  • Total revenue: SEK 58 (63) million
  • Operating result: SEK 4 (2) million
  • Net income SEK 4 (7) million
  • Earnings per share: SEK 0.14 (0.23)

July - December 2019

  • Revenue: SEK 30 (31) million
  • Operating result: SEK 2 (-3) million
  • Net income SEK 2 (-4) million
  • Earnings per share: SEK 0.07 (-0.13)

Produktionsrapport för januari 2020

Petrosibirs sammanlagda oljeproduktion under januari 2020 uppgick till 47 050, motsvarande 1 518 fat per dag.


Production report for January 2020

Petrosibir's total oil production during January 2020 amounted to 47,050 barrels, equivalent to 1,518 barrels per day.


Produktionsrapport för december 2019

Petrosibirs sammanlagda oljeproduktion under december 2019 uppgick till 33 852, motsvarande 1 092 fat per dag.


Production report for December 2019

Petrosibir's total oil production during December 2019 amounted to 33,852 barrels, equivalent to 1,092 barrels per day.


Verksamhetssammanfattning 2019

När 2019 nu närmar sig sitt slut passar Petrosibir på att sammanfatta de viktigaste händelserna under året.


Operational summary 2019

As we are approaching the year end, we would like to summarise the Company's key events and achievements in year 2019.


Produktionsrapport för november 2019

Petrosibirs sammanlagda oljeproduktion under november 2019 uppgick till 34 290, motsvarande 1 143 fat per dag.


Production report for November 2019

Petrosibir's total oil production during November 2019 amounted to 34,290 barrels, equivalent to 1,143 barrels per day.


Produktionsrapport för oktober 2019

Petrosibirs sammanlagda oljeproduktion under oktober 2019 uppgick till 37 699, motsvarande 1 216 fat per dag.


Production report for October 2019

Petrosibir's total oil production during October 2019 amounted to 37,699 barrels, equivalent to 1,216 barrels per day.


Produktionsrapport för september 2019

Petrosibirs sammanlagda oljeproduktion under september 2019 uppgick till 37 144, motsvarande 1 238 fat per dag.


Production report for September 2019

Petrosibir's total oil production during September 2019 amounted to 37,144 barrels, equivalent to 1,238 barrels per day.


Produktionsrapport för augusti 2019

Petrosibirs sammanlagda oljeproduktion under augusti 2019 uppgick till 39 071, motsvarande 1 260 fat per dag.


Production report for August 2019

Petrosibir's total oil production during August 2019 amounted to 39,071 barrels, equivalent to 1,260 barrels per day.


Delårsrapport januari - juni 2019

Januari-juni 2019

  • Totala intäkter: 28 (32) mkr
  • Rörelseresultat: 2 (4) mkr
  • Resultatandel från intressebolag 0 (7) mkr
  • Periodens resultat: 2 (11) mkr
  • Resultat per aktie: 0,07 (0,36)

Interim report January - June 2019

January - June 2019

  • Total revenue: SEK 28 (32) million
  • Operating result: SEK 2 (4) million
  • Result from equity investment SEK 0 (7)
  • Net result: SEK 2 (11) million
  • Earnings per share: SEK 0.07 (0.36)

Produktionsrapport för juli 2019

Petrosibirs sammanlagda oljeproduktion under juli 2019 uppgick till 34 925, motsvarande 1 127 fat per dag.


Production report for July 2019

Petrosibir's total oil production during July 2019 amounted to 34,925 barrels, equivalent to 1,127 barrels per day.


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