Petrogrand AB: Estimated C3 resources in the Niznepaninsky license block substantially increased
(Thomson Reuters ONE) -
Petrogrand is pleased to report that following the interpretation of the new
seismic data we acquired last winter, coupled with re-interpretation and
analysis of vintage seismic data and well logs, the conclusion is that the
estimate on C3 resources present in the Niznepaninsky block have increased from
8.7 million tons (65 mmbbl) to 45.7 million tons (343 mmbbl). This will form the
base for the final report that will be submitted to Tomsknedra by the end of the
year in order to get approval for the updated volumes on the license block.
Petrogrand's business concept is to carry on oil production via acquired Russian
oil companies and oil licenses. Petrogrand will also manage, enhance and sell
Russian oil assets.
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 AB
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.
Press Release PDF:
http://hugin.info/138739/R/1545466/473917.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#1545466]
Unternehmensinformation / Kurzprofil:
Datum: 12.09.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 64251
Anzahl Zeichen: 3568
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Petrogrand AB: Estimated C3 resources in the Niznepaninsky license block substantially increased"
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