Year-end Report on 12 months 2014 and on the Fourth Quarter 2014

Selena Oil & Gas Holding AB makes progress and is aiming to expand
production

As reported previously, the Group’s subsidiary OOO Praim signed an
agreement to buy out the existing well Nr 24 on Fedortsovskoye field for
a consideration of 576 TUSD on 12 September 2013 and successfully
defended its project in local natural resource authority Permnedra
obtaining test production from wells Nr 21 and Nr 24 in Q3 2013.


In Q4 2013 the transaction for well acquisition was completed. The
Company has built the basic access roads to the Fedortsevskoye field and
started construction of the oil production terminal on the
Fedortsevskoye field to prepare the field for the production.
Furthermore, land leases for the necessary land plots were signed. To
start the production from Fedortsevskoye field the Group needs to
finalize the well restoration and activation.

12M 2013 EBITDA loss amounted to 9,088 TSEK (12M 2012: 2,586 TSEK) and
net result was a loss of 20,579 TSEK (12M 2012: a loss of 9,976 TSEK)
including net finance expenses of 8,300 TSEK.

As reported earlier, the Company has also recognized an impairment loss
of 232.7 TSEK related to its investment into OOO Selena-Perm in stand
alone Parent company accounts of Selena Oil & Gas Holding AB (publ).
The recognized impairment loss has no impact on consolidated financial
results for 12 months period ended 31 December 2013.

For full financial report, please see attachment. The report will also
be published on www.selenaoil.com.

For further information, please contact:

 

Magnus Stuart, Managing Director

mobile +46 706 211 350,

e-mail: magnus.stuart@selenaoil.com

 

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.