Malka Oil denies accusations that environmental damage has occurred
on its oil fields. A smaller quantity of oil has leaked within a
smaller perimeter in a working area and has been sanitized. In spite
of solid working routines and good discipline, this is something that
can occur within the frames for normal operations.
On May 3rd there was a spill of 120 liters of oil on a surface of 2
square meters approximately 50 meters away from the drilling area on
one of Malka Oil's oil fields. The spill was sanitized within six
hours. Russian authorities were notified about the incident.
The oil spill has occurred within a "technical area" and has not had
any effect on the surrounding nature. Before this there has not been
any such incident during the last working year" says Fredrik
Svinhufvud, MD Malka Oil.
The photographs that have been shown regarding oil spill are not
connected to the recent incident. They show parts of the working area
where daily operations are conducted on the oil fields. Specifically
they show specially prepared reservoirs which are aimed for
collecting environmentally hazardous liquids, which are an integral
part of the oil production process. These reservoirs are emptied and
cleaned with regular intervals. The photos in question are shot
within the working area which is adapted to accommodate the daily
operations under controlled circumstances.
For more photos from the oil fields please go to our homepage:
www.malkaoil.se/photo_gallery.php
For further information, please contact:
Fredrik Svinhufvud, MD, Malka Oil, tel +46 8 5000 7811, mobile
+46 708 708 708
Mats Gabrielsson, Chairman of the Board, mobile +46 70 775 83 20
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.
