Source: Selena Oil Gas Holding AB
The H1 2013 report of Selena Oil & Gas Holding AB (publ) shows that revenue
increased by 323.7% to 84,814 TSEK as compared to the same period in 2012
(20,018) due to significant amount of third party oil sold. Sales of third
party oil in H1 2013 amounted to 219.5 Mbbl, while in H1 2012 there were no
sales of third party oil (12M 2012: 96.5 Mbbl).
In H1 2013 the production decreased by 4.7% to 58.6 Mbbl as compared to the
same period in 2012 (61.5). As reported earlier, the decrease of the production
continued in July as a consequence of the ongoing restructuring of the
subsidiary OOO Selena-Perm. The restructuring in relation to Visakovskoye field
was completed on July 4th followed by the completion of the restructuring
related to Dubroviskoye and Azinskoye fields on July 22nd. As the result, the
production of the company is ceased as of the end of July.
H1 2013 net result was a loss of 3,720 TSEK (H1 2012: a loss of 4,403 TSEK),
including a net finance loss of 5,252 TSEK.
For full financial report, please see attachment. The report will also be
published on www.selenaoil.com.
For further information, please contact:
Magnus Stuart, CEO
+46 706 211 350
Selena Oil & Gas Holding AB (publ) (former Emitor Holding AB) is engaged in the
production of oil and in the Volga-Ural region in the Russian Federation,
including Perm and Udmurtia. The company is listed on NASDAQ OMX First North
Premier in Stockholm under the ticker SOGH. Mangold Fondkommission is the
company´s Certified Adviser and liquidity provider, telephone +46 8-503 015 50.
Selena Oil Gas Holding AB