Exillon Energy Plc Commissioning of Transneft Entry Point (5019H)
July 12 2012 - 2:00AM
UK Regulatory
TIDMEXI
RNS Number : 5019H
Exillon Energy Plc
12 July 2012
Exillon Energy plc
Commissioning of Transneft Entry Point
12 July 2012 - Exillon Energy plc, a London premium listed
independent oil producer with assets in two oil-rich regions of
Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon
WS"), is pleased to announce the commissioning of its own Entry
Point to the Transneft pipeline network. All regulatory approvals
have been obtained, and 100% of production from Exillon WS is now
transiting via this facility.
Exillon had previously transported oil approximately 200km by
road to reach an entry point owned by a third party. The new Entry
Point is approximately 100km from our oil fields, and
transportation costs will fall accordingly. We estimate that the
use of the Entry Point will increase the EBITDA generated by
production from Exillon WS by approximately USD 1.50 per
barrel.
Transneft JSC is the state controlled trunk oil pipeline network
of the Russian Federation. Once submitted to the Transneft network,
oil can be sold for either export or domestic sale. The Entry Point
is located in the town of Urai, the operational headquarters of
Exillon WS, with a current capacity of 1,800 tonnes (approximately
13,000 barrels) per day, which can be increased by the construction
of additional storage tanks. In June the average production from
Exillon WS was 9,062 barrels per day.
Media details:
Tom Blackwell +44 207 920 2330
This information is provided by RNS
The company news service from the London Stock Exchange
END
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