Russia-focused Exillon Energy reported Friday that the Russian Ministry of Natural Resources has registered an extension to the company’s EWS I field in West Siberia.
Exillon said that the extension delineates the newly-understood geological contours of the field and covers approximately 20 square miles of previously-unlicense territory immediately bordering the northeastern edge of EWS I. This is close to the firm’s Well Pads 5 and 7 and to its existing oil production infrastructure. The total extent of the EWS I license area is now 232 square miles.
Exillon said the new extension has oil reserves under the Russian C2 classification of 4 million tons, although the firm added that is not possible to make a direct comparison with reserves audited under international PRMS standards.
Exillon is to make a payment of around $2 million for the extension.
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