Press Releases

Selena Oil & Gas AB Interim Report Q1 2011

15.06.2011

First quarter of 2011: Earnings increased by 428 % to TSEK 668 (156)
The interim report for the three month period Jan-Mar 2011 of Selena Oil & Gas AB (subsidiary of Selena Oil & Gas Holding AB (publ)) showed that earnings (EBITDA) increased by 428 % to TSEK 668 as compared to pro forma earnings for the first quarter 2010 (156).

Production increased by 7.6 % to 25.4 Mbbl, compared to the first quarter 2010 (23.6), and the volume of third party oil sold through the company’s own Transneft Access point increased by 163 % and reached 9.0 Mbbl (3.4).

Net profit amounted to TSEK 211 as compared to a loss of TSEK 115 in the first quarter of 2010.

“Selena Oil & Gas AB has increased its earnings as a result of the long-term plan to increase capacity of production. Together with the acquisition of oil and gas licenses and long term plans to invest in the gas sector, this will call for a further expansion of the company”, says Indrek Rahumaa, Chairman of the Board of Selena Oil & Gas Holding AB.

During the first quarter Selena Oil & Gas AB also acquired a license for exploration, development and production of the Komarikhinskoye oil and gas field for the value of approximately TSEK 8,538. The license will be valid until 2031.

The interim report presents the results of Selena Oil & Gas, subsidiary of Selena Oil & Gas Holding AB (publ). After the spinn-off of the Emitor Holding AB business, the operations of Selena Oil & Gas Holding AB (publ) includes operations of Selena Oil & Gas AB solely.

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

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

Selena Oil & Gas Holding AB (publ) is engaged in the production and transportation of oil and gas in the Volga-Ural region in the Russian Federation, including in Perm and Udmurtia. As a result of a non-cash issue, decided upon on the extra General Meeting of Emitor Holding on the 6th of May, the Selena Oil & Gas Holding was listed on NASDAQ OMX First North in Stockholm, currently being on the Observation list. Mangold Fondkommission is the company´s Certified Adviser and liquidity provider, telephone +46 8-503 015 50.

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