Imperial Reaches Production Target Ahead of Schedule

Imperial's tie-in to the Transneft national pipeline system at Luginetskoye is complete and is currently being commissioned. As a result, Imperial has been able to achieve a production rate of 10,000 bopd meeting its year-end target one month ahead of schedule with production continuing to increase as further wells, which have already been completed, are brought on stream.

The full commissioning act for the Luginetskoye tie-in is expected by the end of the week.

The commissioning of the tie-in at Zavyalovo is expected to follow within the next 10 days.

South Maiskaya Prospect, Block 70, Tomsk Region:

The new exploration well on this property, South Maiskaya 3, whilst still drilling has already successfully identified oil in the Upper Vasyugan section through cores. This is a potentially very significant development as this is at the same depth and displays similar properties to the Vasyugan reservoir in the Maiskoye field a few kilometers to the northwest. The identification of oil in the South Maiskaya prospect demonstrates that the Maiskoye field and South Maiskaya are part of the same structural trend and have the same reservoir sands. Pressure testing will be carried out in due course. If this displays connectivity then the reserves for Maiskoye could substantially increase with concomitant positive changes to the field development plan and projected production. Imperial's horizontal wells addressing the Vasyugan section in the Maiskoye field currently demonstrate production of between 1,000 bopd and 2,000 bopd each.

After completion of drilling and subject to successful testing, Imperial will apply for registration of this field with the Russian authorities. There are currently no Russian Registered Reserves for South Maiskaya and neither are there any SPE reserves booked.

Drilling Update:

Production and exploration drilling is carrying on ahead of schedule.

At the Snezhnoye field there are currently 11 wells in production, four further wells subject to post-drilling operations, one well working maintaining reservoir pressure and a further one well in the process of being drilled.

At the Maiskoye field there are currently 5 wells in production, 3 wells prepared for production and tied in, a further 3 completed wells being prepared for production and one well currently being drilled.

In respect of exploration, testing of wells is ongoing at South Festivalnoye, Buranovskoye, North Chertalinskoye and Nylginskoye fields with successful testing having already been completed at the Vodorazdelnoye and Tamratskoye fields.

At Imperial's North Torgai Block, Kostonai in Kazakhstan, the new exploration well is now expected to be spudded later this week with results expected in the New Year. The well will be drilled down to a depth of 3,000 metres.


Imperial is proceeding ahead of schedule with its 152 km Kiev-Eganskoye-Zavyalovo pipeline of which over 130 km of pipe has already been welded. All necessary tree-cutting and land right permissions have been obtained and laying is expected to commence later this month with completion of the pipeline scheduled by the end of spring.


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