Volga Gas PLC Production Report for August 2016 (0895K)
September 16 2016 - 8:01AM
UK Regulatory
TIDMVGAS
RNS Number : 0895K
Volga Gas PLC
16 September 2016
16 September 2016
Volga Gas plc
("Volga Gas", the "Company" or the "Group")
PRODUCTION REPORT FOR AUGUST 2016
Volga Gas plc, the oil and gas exploration and production group
operating in the Volga Region of Russia, is pleased to announce its
average production volumes for August 2016 and for the year to
date.
Average Group production for August 2016 was 7,081 barrels of
oil equivalent per day (11.5% higher than July 2016). This was the
highest monthly production rate achieved in 2016 and comprised:
August 2016 Jan-Aug 2016
average average
Gas: 26.9 mmcfd 24.2 mmcfd
Condensate 1,546 bpd 1,552 bpd
Oil 1,050 bpd 557 bpd
Total 7,081 boepd 6,144 boepd
Production data is based on monthly production reports submitted
to tax authorities for Mineral Extraction Tax purposes.
For further information, please contact:
Volga Gas plc
+7 (903) 385
9889
Andrey Zozulya, Chief Executive +7 (905) 381
Officer 4377
Vadim Son, Chief Financial Officer +44 (0)7824
Tony Alves, Investor Relations Consultant 884 342
Stifel Nicolaus Europe Limited (Nominated +44 (0)20 7710
Adviser and Broker) 7600
Callum Stewart, Ashton Clanfield
+44 (0)20 3727
FTI Consulting 1000
Edward Westropp, Alex Beagley
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
Editors' notes:
The information contained in this announcement has been reviewed
and verified by Mr. Andrey Zozulya, Chief Executive Officer of
Volga Gas plc, for the purposes of the Guidance Note for Mining,
Oil and Gas companies issued by the London Stock Exchange in June
2009. Mr. Andrey Zozulya holds a degree in Geophysics and
Engineering from the Groznensky Oil & Gas Institute and is a
member of the Society of Petroleum Engineers.
The Company records production in metric tonnes (for oil and
condensate) and in cubic metres (for gas). Conversions from metric
to standard oil field units are used for illustrative purposes only
and are based on the Company's estimate of the applicable ratios.
The ratios used are 7.833 barrels per tonne for oil and 8.75
barrels per tonne for condensate. Gas volumes are translated using
35.3 cubic feet per cubic metre and 6,000 cubic feet per barrel of
oil equivalent.
Glossary:
bpd Barrels per day
boepd Barrels of oil equivalent per day
mmcfd Millions of standard cubic feet per day
This information is provided by RNS
The company news service from the London Stock Exchange
END
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