Exillon Appraisal Discovers Oil in Russia

Exillon, with assets in two oil-rich regions of northern Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), announced that appraisal well 5 (EWS I - 50P) successfully found oil on the northern extension of the East EWS I field.

Appraisal well 5 (EWS I - 50Р) was designed to test a 5 sq km northern extension to the East EWS I field. The new appraisal contained pre drill estimates of 13.3 million barrels of possible reserves (Miller and Lents December 2010 reserves report). The well encountered the Jurassic P reservoir at 1858 m which is 2 meters higher than previously thought. Results of wire line logging combined with oil shows and sample analysis whilst drilling, have confirmed the presence of 13.9 m of gross oil pay within the Jurassic. The well was spudded on 9 March 2011 was drilled in 18 days on a northern part of the East EWS I field. Testing of the well will be completed by the end of April.

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