(For complete half year report see attached file)
EBITDA for H1 2014 amounted to 60 TSEK as compared to 3,183 TSEK in respective
period in 2013. H1 2014 net result was a loss of 1,014 TSEK (H1 2013: a loss of
3,720 TSEK).
From July 2013 the Company’s production and sales of crude oil were
discontinued temporarily. During second quarter 2014, the Company has started
test production from the wells 24 and 21 on Fedortsevskoye field. The
production tests indicate that the well 24 has a minimum production capacity of
6 metric tons per day, which corresponds to approximately 40 bbl per day.
Furthermore, in July 2014 the Company conducted production tests of well 21,
the second well located on the Fedortsevskoye oil field. The tests indicate
that the well 21 has a production capacity in the range of 12 – 18 metric tons
per day, corresponding to 85 – 130 bbl per day.
Selena Oil & Gas Holding AB has now established capacity to produce both from
the well 21 and the well 24 and is preparing plans for financing the
acquisition of the third well, the well 23, scheduled during the third quarter
of 2014.
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
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.
