Source: Selena Oil Gas Holding AB
Selena Oil & Gas Holding AB (publ) has conducted production tests of Well 21,
the second well located on the Fedortsevskoye oil field. Tests indicate that
Well 21 has a production capacity in the range of 12-18 metric tons per day,
corresponding to 85-130 bbl per day. The company estimates that Well 21 has
capacity to reach a daily production in excess of 150 bbl when commissioned for
full production. Plan for next developments include addition of an increased
storage capacity and the construction of a subsurface pipeline, connecting Well
21 to the Fedortsevskoye production terminal.
Selena Oil & Gas Holding AB has now established capacity to produce both from
Well 21 and Well 24 and is preparing plans for financing the acquisition of the
third well, Well 23, scheduled during the third quarter of 2014. After
materializing these plans, Selena Oil & Gas Holding AB anticipates reaching a
production from Fedortsevskoye oilfield of around 250 bbl per day.
Oilfield Fedortsevskoye holds estimated 2.8 million bbl of 1P and 6,6 million
bbl of 2P reserves, and has an estimated potential of reaching a daily
production of 1 500 bbl, fully developed.
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
exploration, and production of oil and gas in the Volga-Ural region in the
Russian Federation, around Perm. The Company´s shares are temporarily not
publicly listed, but the Company observes all rules, practices and policies for
any company subject to public listing. Selena Oil & Gas Holding AB are in
process of seeking for a new listing. Mangold Fondkommission serves as before
as the company´s Adviser on public information.
Selena Oil Gas Holding AB