December 3, 2013

Operations update


  • Drilling operations re-commenced
  • Production currently 2,300 bopd, workovers planned once winter roads available
  • Continued progress on re-financing as discussions widen to include additional parties

September 30, 2013

Interim Results for the Half Year Ended 30 June 2013


· H1 production of 445,949 barrels of oil for the period – average of 2,464 bopd

· Encouraging further progress on financing

· Current group production 2,500 bopd

September 11, 2013

Operations update


  • Production steady at 2,500 bopd
  • Beginning to see positive impact of pressure maintenance at Arbuzovskoye
  • Strong realised oil prices
  • Encouraging progress on financing

June 28, 2013

2012 Final results and operations update

2012 Final results and annual report published

June 2013 Operations Update

• Current total production steady at 2,600 bopd
• Water injection commenced at Arbuzovskoye oil field
• Monthly repayments to Macquarie commenced
• Farmout and refinancing discussions ongoing

March 21, 2013

Operations update


  • Arbuzovskoye well 105 successfully completed
    • Initial oil flow rate of 160 bopd, with no water production
  • Successful workover restores production at Arbuzovskoye well 102 to 380 bopd
  • Recent pressure testing of two Arbuzovskoye wells shows normal pressure decline
  • Arbuzovskoye water source well completed, planned pressure maintenance to commence shortly
  • Timing and location of future Arbuzovskoye wells to be determined by response to pressure maintenance programme
  • Total production increased to 2,800 bopd

February 8, 2013

Operations update

· Arbuzovskoye well 112 successfully completed

· No water production associated with the well

· Initial oil flow rate of 140 bopd, well presently shut-in for pressure build up testing

· Well 105 currently drilling ahead

· Production from two Arbuzovskoye wells temporarily reduced by c300 bopd due to mechanical issues; expected to be fixable by workover or pressure maintenance

· Total production running at 2,600 bopd; excludes 400+ bopd potential from well 112 and the two mechanically reduced Arbuzovskoye wells