Press Releases

Year-end Interim Report 2016 and Q4 2016

03.03.2017

In 2016 Selena Oil & Gas Holding continued to develop wells located on its licences for re-commissioning, through investments in infrastructure and in production equipment. The development has not been entirely successful. The Company have encountered hinders in reaching targetet production level, due to well-bore disturbances, a high sulphur content in one well, and an overall lower than anticipated production level.

The Company currently owns seven wells, including two non-producing wells, and anticipates to soon reaching a production level of 200 bbl per day in 2017.

2016 in summary:

  • Production of crude oil during 12 months, amounted to a total of 28.2 Mbbl (2015:19,1 Mbbl:) In addition, to the above the Company produced 22 Mbbl of oil containing liquids was produced in 2016 (2015: 7.6 Mbbl).The average total daily production was 138 bbl per day (2015, 73 bbl).
  • EBITDA  amounted to a loss of -4,015 TSEK as compared to an EBITDA loss of -3,796 TSEK in 2015.
  • 2016 Net Result was a loss of -7,303 TSEK (2015: a loss of -6,351 TSEK), including a net finance loss of -3,165 TSEK.

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

 

For further information, please contact:

Magnus Stuart, Managing Director

mobile +46 706 211 350,

e-mail: magnus.stuart@selenaoil.com

 

 

Selena Oil & Gas Holding AB (Publ) (former Emitor Holding AB) is engaged in the exploration and production of oil and gas in the Volga-Ural region in the Russian Federation, around Perm. The Company´s shares are temporarily not publicly listed, but the Company observes all rules, practices and policies for any company subject to public listing. Selena Oil & Gas Holding AB are in process of seeking for a new listing.

Click here to down-load the press release as a pdf-file.

Click here to down-load the Interim Report as a pdf-file.

Klicka här för att hämta pressmeddelandet på Svenska som en pdf-file.

 

Click here for Emitor Holding AB (publ) Press releases 2008 – 2011