PRESS RELEASE DATED 2009-02-09
JANUARY 2009 PRODUCTION: 2,844 BARRELS PER DAY
Malka Oil's total production of oil and condensate for the month of January 2009
amounted to 88,162 barrels, compared with December when the production was
88,605 barrels. On average the production was 2,844 barrels per day compared to
2,858 barrels per day during December.
During January Malka Oil produced oil and condensate from 16 wells, compared to
17 wells in December.
For further information, please contact:
Fredrik Svinhufvud, Managing Director, tel +46 8 5000 7811, mobile
+46 708 708 708
Richard Tejme, CFO, tel +46 8 5000 7812 mobile +46 707 31 52 17
For further information on Malka Oil AB, see the website www.malkaoil.se
Malka Oil AB (publ) is an independent oil and gas production company operating
in the Tomsk region in western Siberia. Their current position consists of oil
and gas assets for licence block number 87 in the said region. The block has a
surface of 1,800 square kilometres. There are currently three oil fields at the
licence block, namely Zapadno-Luginetskoye (“ZL”), Lower Luginetskoye (“LL”) and
the Schinginskoye oil field, and a large quantity of other not yet drilled oil
structures.
The ZL and LL oil fields are in production and these two oil fields have during
2007 went through reserve classification by the Russian State Committee of
Reserves (GKZ) and during spring 2008 a Western reserve study made by DeGolyer
and MacNaughton. The GKZ registered extractable oil and condensate reserves in
the categories C1 and C2 amounted to 97 million barrels at the end of 2007. The
company's own estimate of its extractable oil and condensate reserves, C1+ C2,
in the three existing oil fields on licence block number 87 is currently 140-190
million barrels. The Western reserve study estimation as of April 30, 2008
amounted to 43.5 million barrels 2P and 90.6 million barrels 3P oil reserves.
Malka Oil's licence block is surrounded by a large number of producing oil and
gas fields.
Reasonable caution notice: The statement and assumptions made in the company's
information regarding Malka Oil AB's (“Malka”) current plans, prognoses,
strategies, concepts and other statements that are not historical facts are
estimations or “forward looking statements” concerning Malka's future
activities. Such future estimations comprise but are not limited to statements
that include words such as “may occur”, “concerning”, “plans”, “expects”,
“estimates”, “believes”, “evaluates”, “prognosticates” or similar expressions.
Such expressions reflect the management of Malka's expectations and assumptions
made on the basis of information available at that time. These statements and
assumptions are subject to a large number of risks and uncertainties. These, in
their turn, comprise but are not limited to i) changes in the financial, legal
and political environment of the countries in which Malka conducts business, ii)
changes in the available geological information concerning the company's
projects in operation, iii) Malka's capacity to continuously guarantee
sufficient financing to perform their activities as a “going concern”, iv) the
success of all participants in the group, or of the various interested
companies, joint ventures or secondary alliances, v) changes in currency
exchange rates, in particular those relating to the RUR/USD rate. Due to the
background of the many risks and uncertainties that exist for any
oil-prospecting venture and oil production company in its initial stage, Malka's
actual future development may significantly deviate from that indicated in the
company's informative statements. Malka assumes no implicit liability to
immediately update any such future evaluations.
