Drilling update - Bashkiria
As a follow up to the press release issued on 23 December 2020 Petrosibir would like to provide an update on initial test results of the recently completed well Yanbayskaya-1.
Core samples and logs indicated oil in two intervals, Bobrikovsky and Kyn-Pashiysky with 5.4m and 3.8m net pay respectively. Both targets have now been tested flowing commercial oil. The initial flow rates are 79 bopd from the Bobrikovsky horizon and 180 bopd from the deeper Kyn-Pashiysky horizon. The next stage is to run short-term trial production to establish stable flow rates and collect data for the reserves report and pilot production project with the production to start in 2H 2021.
The move of the drilling rig to the next exploration target on Orlinskaya prospect is now almost complete. The well is scheduled to spud in mid-January 2021 with drilling expected to be completed during the first half of 2021.
Pavel Tetyakov, CEO, comments: "We are very happy that both targets flowed commercial volumes of oil and the exploration potential of the Suyanovskaya licence is now proven. The recently drilled Yanbayskya structure is just one of several prospects within the licence area and we are looking forward to drilling another well."
Stockholm, 30 December 2020
For more information, please contact:
Pavel Tetyakov, CEO, Petrosibir, tel +46 8 407 1850
Gunnar Danielsson, dep CEO / CFO Petrosibir, tel +46 70 738 0585
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.
Årsstämman i Petrosibir AB hölls den 16 juni 2021 varvid aktieägarna fattade i huvudsak följande beslut.
Shareholders of Petrosibir AB passed the following main resolutions at the annual general meeting held on 16 Juni 2021.
Petrosibirs sammanlagda oljeproduktion under maj 2021 uppgick till 29 595 fat, motsvarande 955 fat per dag.
Petrosibir's total oil production during May 2021 amounted to 29,595 barrels, equivalent to 955 barrels per day.
Aktieägarna i Petrosibir AB (publ) (nedan "bolaget") kallas till årsstämma den 16 juni 2021 kl. 10.00 på Nybrogatan Business Center, Nybrogatan 34 i Stockholm.
The shareholders of Petrosibir AB (publ) (hereinafter the "Company") are hereby given notice to attend the Annual General Meeting to be held at 10 AM on 16 June 2021 at Nybrogatan Business Center, Nybrogatan 34 in Stockholm.
Petrosibirs sammanlagda oljeproduktion under mars 2021 uppgick till 30 283 fat, motsvarande 977 fat per dag.
Petrosibir's total oil production during March 2021 amounted to 30,283 barrels, equivalent to 977 barrels per day.
Petrosibirs sammanlagda oljeproduktion under februari 2021 uppgick till 28 939, motsvarande 1 034 fat per dag.
Petrosibir's total oil production during February 2021 amounted to 28,939 barrels, equivalent to 1,034 barrels per day.