Press Releases

Selena Oil & Gas Holding AB Competent Person Report on Reserves

30.06.2011

Selena Oil & Gas Holding AB: Selena Oil & Gas announces filing of Competent Person Report on Reserves

Selena Oil & Gas Holding AB (publ) is pleased to announce that it has filed a Competent Person Report on Reserves, Prospective Resources and Sensitivity Report by the status as of December 31, 2010. The reports are prepared by DeGolyer and MacNaughton.

The Reports contain the following information on the company’s reserves:

  • Total 2P reserves equal 22.6 Mmbbl (million barrels)
  • Total 3P reserves equal 31.8 Mmbbl
  • Prospective resources equal 90.3 Mmbbl

The reports also estimate the Net Present Value of the company’s 3P reserves is in the range of 82.4 MUSD (base case) to 114.6 MUSD (sensitivity case).

The Reports will be available at www.selenaoil.com and is attached to this press release.

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

DeGolyer and MacNaughton is the world’s leading international petroleum reservoir consultants. The firm was founded in 1936 by petroleum industry innovators Everett Lee DeGolyer and Lewis MacNaughton. During more than six decades of operation, the firm has successfully performed thousands of studies on petroleum properties in more than 100 countries.

DeGolyer and MacNaughton employs nearly 90 professionals, including engineers, geologists, geophysicists, petrophysicists, and economists engaged in the appraisal of oil and gas properties, evaluation of hydrocarbon and other mineral prospects, basin evaluations, comprehensive field studies, equity studies, and studies of supply and economics related to the worldwide energy industry. Each individual on the firm's professional staff averages more than 20 years of industry experience.

With headquarters in Dallas, Texas, DeGolyer and MacNaughton maintains offices in Houston and Moscow. It’s wholly owned subsidiary DeGolyer and MacNaughton Canada, located in Calgary, Alberta, serves the Canadian upstream oil and gas industry.

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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