Shelton Petroleum’s total oil production in December amounted to 16,600 barrels, equivalent to 535 barrels per day.
The table below summarizes the production broken down by oil field.
|
|
Dec 2012 |
Dec 2011 |
Jan-Dec 2012 |
Jan-Dec 2011 |
|
|
|
|
|
|
|
Lelyaki |
10,000 |
9,100 |
119,950 |
32,800 |
|
Rustamovskoye |
6,600 |
3,300 |
57,900 |
44,500 |
|
Total barrels |
16,600 |
12,400 |
177,850 |
77,300 |
|
|
|
|
|
|
|
Lelyaki |
323 |
294 |
328 |
90 |
|
Rustamovskoye |
213 |
106 |
158 |
122 |
|
Total barrels per day |
535 |
400 |
486 |
212 |
The new well #310 at the Lelyaki oil field in Ukraine was drilled to a total depth of approximately 2,000 meters at the end of 2012. Review and approval by the authorities will be resumed after the Ukrainian holidays and following that the well will be put into production and flow rates will be measured.
Shelton Petroleum has a 45% working interest in Kashtan Petroleum (holder of the license to the Lelyaki oil field) through its wholly owned subsidiary Zhoda 2001 Corporation. Ukrnafta, Ukraine's largest oil and gas company, owns the remaining 55%. Shelton Petroleum holds 100% of the Rustamovskoye license in Russia. The production data in the table above represents Shelton Petroleum’s working interest.
For more information, please contact:
Robert Karlsson, CEO, Shelton Petroleum, +46 709 565141
robert.karlsson@sheltonpetroleum.com
www.sheltonpetroleum.com
About Shelton Petroleum
Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. The company holds three licenses in the Volga-Urals area and has commenced production on the Rustamovskoye field after a successful exploration program. In Ukraine, Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta and Chornomornaftogaz, two leading Ukrainian oil and gas companies. Shelton Petroleum is pursuing an integrated business model and holds an equity stake in Pan European Terminals PLC. The Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the under the symbol SHEL B.