Press Releases

Q2 & H1 2011 interim report, reviewed by PWC

31.08.2011

Half year 2011: Revenues increased by 124 % to TSEK 26,659 (11,904)  

The half year report for the six month period Jan-Jun 2011 of Selena Oil & Gas Holding AB (publ) showed that revenues increased by 124 % to SEK 26,659 as compared to combined revenues for Selena Oil & Gas AB for the same period last year (11,904). Earnings (EBITDA) increased by 138 % to TSEK 669 (281) in the first half year.

Production increased by 15 % to 55.1 Mbbl (48.0), and the volume of third party oil sold through the company’s own Transneft Access point increased by 521 % and reached 44.1 Mbbl (7.1) in the first half year. During that same period net result amounted to TSEK -1,077 (-1,080).
During the second quarter production increased by 22 % to 29.7 Mbbl (24.4), and the volume of third party oil sold through the company’s own Transneft Access point increased by 846 % and reached 35.0 Mbbl (3.7).

During the second quarter Selena Oil & Gas Holding AB was listed on First North NASDAQ OMX in Stockholm after a reverse take-over of Emitor Holding AB. The acquisition of a license for the Komarikhinskoye oil and gas field was completed in the second quarter as well as the acquisition of the Russian company, OOO Georesurs, which holds exploration licenses for three blocks in the Perm region. A DeGolyer and MacNaughton report was also made over 2P reserves, which amounted to 22.6 Mmbbl.

“Selena Oil & Gas continues to deliver on its long-term strategy. The Company has increased production and has expanded by completing new licenses and acquisitions”, says Indrek Rahumaa, Chairman of the Board of Selena Oil & Gas Holding AB.

For full financial report, please see attachment. The report will also be published on www.selenaoil.com.

A conference call on the financial result will be held today at 11 CET. Indrek Rauhmaa, Chairman of the board, Jyrgen Lamp, CEO, and Baiba Gegere, CFO, will present the results, followed by a Q&A session. To participate, please call +371 67777003 and enter the access code 7777.

For further information, please contact:
Indrek Rahumaa, Chairman of the Board, tel +372 509 2080 or +7 (916) 180 31 62, e-mail: indrek.rahumaa@selenaoil.com

Selena Oil & Gas Holding AB (publ) (former Emitor Holding AB) is engaged in the production and transportation of oil and gas in the Volga-Ural region in the Russian Federation, including Perm and Udmurtia. The company is listed on NASDAQ OMX First North in Stockholm under the ticker SOGH. Mangold Fondkommission is the company´s Certified Adviser and liquidity provider, telephone +46 8-503 015 50.

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