Production update for August 2015


Stockholm, 2015-09-15 10:55 CEST (GLOBE NEWSWIRE) --

 

The total production from the Komi oil fields Dinyu-Savinoborskoe, Sosnovskoe and Yuzhno-Tebukskoye in August 2015 amounted to 58,381 barrels of oil, corresponding to an average of 1,883 barrels of oil per day (an increase of 5 per cent compared to 1,788 barrels of oil per day in July 2015). Petrogrand’s share of the production amounted to 28,607 barrels of oil, corresponding to an average of 923 barrels of oil per day.

The Komi oil fields are held by Petrogrand’s associated company Ripiano Holdings Ltd. Petrogrand holds 49% of the shares in Ripiano. The results of Ripiano are reported as the results from associated companies in Petrogrand’s income statement.

For further information, please contact:

Cheddi Liljeström, Chairman of the Board
Dmitry Zubatyuk, CEO.

Phone: +46 8 500 07 810
info@petrogrand.se

Certified Adviser First North: Mangold Fondkommission AB, phone: +46 8 503 01 550

 

About Petrogrand
Petrogrand’s overall business concept is to conduct oil production through acquired Russian subsidiaries and oil licenses. The company is also to manage and refine Russian oil resources and, when favorable, divest assets and licenses. The shares in Petrogrand are listed at Nasdaq First North Stockholm, an alternative market place (i.e. not a regulated market) and the company’s Certified Adviser is Mangold Fondkommission AB. For more information visit our webpage www.petrogrand.se.


Attachments

2015_09_15_PETRO_eng.pdf