Drilling update - Bashkiria
As planned the second exploration well on the Orlinskaya structure within the Suyanovskoye licence was spudded in mid-January. The drilling is now completed with the well reaching the total depth of 2,422 meters which was deeper than the initial target depth of 2,362 meters.
The Orlinskaya-1 well targeted 4 intervals: Bobrikovsky, Domanikovsky, Orlovsky and Kyn-Pashiysky - the common oil-bearing reservoirs in the region. Core samples had oil signs in Bobrikovsky and Orlovsky horizons only, with no indication of hydrocarbons in the two other targets. Based on core and log data it was decided to test Orlovsky due to better reservoir parameters, but the open-hole test delivered only a film of oil. The well is now being abandoned.
In spite of a disappointing result this new data will help the Company to build a more reliable geological model to increase chances of success of the future exploration once the new 3D seismic survey is completed towards the end of 2021.
Pavel Tetyakov, CEO, comments: "While we feel disappointed with the results of Orlinskaya-1, this was one of many exploration targets within the licence area. In addition, the new 3D seismic data will help us to better understand the well results and whether there are any better well locations within the Orlinskaya structure. Fortunately, Yanbayskaya-1 test production continues successfully and we will announce the results in the second half of April 2021 once the test period is completed."
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.