PETROGRAND COMMISSIONS INTEGRA-GEOPHYSICS TO ACQUIRE SEISMIC ON ITS NIZHNE-PANINSKY LICENSE AREA
(Thomson Reuters ONE) -
Petrogrand has signed a contract with Integra-Geophysics for seismic work
Following the acquisition of the Nizhne-Paninsky license area in December 2010,
Petrogrand has now taken the next step and commissioned Integra-Geophysics to
perform seismic work on the area.
The contract was signed as the result of an open tender process in which several
well qualified companies participated.
The seismic surveys will be carried out during winter and spring and a
preliminary interpretation of the results will be performed by the end of May -
beginning of June 2011. The result will lay the ground for exploration drilling
which will take place during the winter season 2011/12.
Through its Russian subsidiary, Petrogrand acquired the Nizhne-Paninsky license
in the Tomsk region in an auction on 10 December 2010. The license area was
discovered in the 1960's and the State Committee for Natural Resources has
determined that the reserves reach 8.7 million tons, according to the Russian
classification (approximately 65.2 million barrels).
For further information, please contact:
Maks Grinfeld, CEO, phone: +46 8 5000 7810
Sven-Erik Zachrisson, Chairman, phone: +46 8 41 05 45 96
Certified Adviser First North: Mangold Fondkommission
Reasonable caution notice: The statement and assumptions made in the company's
information regarding Petrogrand AB's ("Petrogrand") current plans, prognoses,
strategies, concepts and other statements that are not historical facts are
estimations or "forward looking statements" concerning Petrogrand's future
activities. Such future estimations comprise but are not limited to statements
that include words such as "may occur", "concerning", "plans", "expects",
"estimates", "believes", "evaluates", "prognosticates" or similar expressions.
Such expressions reflect the management of Petrogrand's expectations and
assumptions made on the basis of information available at that time. These
statements and assumptions are subject to a large number of risks and
uncertainties.
These, in their turn, comprise but are not limited to i) changes in the
financial, legal and political environment of the countries in which Petrogrand
conducts business, ii) changes in the available geological information
concerning the company's projects in operation, iii) Petrogrand's capacity to
continuously guarantee sufficient financing to perform their activities as a
"going concern", iv) the success of all participants in the group, or of the
various interested companies, joint ventures or secondary alliances, v) changes
in currency exchange rates, in particular those relating to the RUR/USD rate.
Due to the background of the many risks and uncertainties that exist for any
oil-prospecting venture and oil production company in its initial stage,
Petrogrand's actual future development may significantly deviate from that
indicated in the company's informative statements. Petrogrand assumes no
implicit liability to immediately update any such future evaluations.
Press Release PDF:
http://hugin.info/138739/R/1482338/417648.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Petrogrand AB via Thomson Reuters ONE
[HUG#1482338]
Unternehmensinformation / Kurzprofil:
Datum: 25.01.2011 - 15:54 Uhr
Sprache: Deutsch
News-ID 50718
Anzahl Zeichen: 3999
contact information:
Town:
Stockholm
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"PETROGRAND COMMISSIONS INTEGRA-GEOPHYSICS TO ACQUIRE SEISMIC ON ITS NIZHNE-PANINSKY LICENSE AREA"
steht unter der journalistisch-redaktionellen Verantwortung von
Petrogrand AB (Nachricht senden)
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