January oil production
West Siberian Resources Ltd’s oil production during January 2005 amounted to approximately 155,500 barrels, or 5,018 barrels per day. This represents a three-fold increase since January 2004 when production amounted to 51,100 barrels or 1,650 barrels per day.
Most of the oil was produced at the Middle Nyurola-field. During the month production started from well no 130, a recently drilled horizontal well. A water injection well was also completed in the field where drilling of oil production well 137 commenced. In addition production has commenced from well no 61 in the Kluchevskoye-field, which produced an average of 368 barrels per day in January. The Kluchevskoye field development program has been initiated starting with the construction of a pipeline connection to the Middle Nyurola field. Production from the recently acquired Khvoinoye field was not included in the report pending the Russian Antimonopoly Committee approval of the acquisition. January production averaged 218 barrels per day. West Siberian Resources has appointed Mr Vyacheslav Pershukov as Chief Technical Officer (CTO) to replace Mr Colin Ivory. Mr Pershukov, who has assumed responsibility for exploration and production, holds a doctorate in Thermal Physics and received degrees from several Russian and international universities. Since 1998, Mr Pershukov held positions at Yukos EP, most recently as an executive vice president. “We continue the drilling program at Middle Nyurola and we started development activities at Kluchevskoye. Mr Pershukov strengthens the management team adding technical expertise and vast experience from the Tomsk region. We are well positioned to grow aggressively through acquisitions and field development.” Maxim Barski, West Siberian Resources Ltd’s Managing director stated in a comment For further information: Maxim Barski, Managing director, West Siberian Resources Ltd., tel. +7 095 723 07 18 Eric Forss, Chairman, West Siberian Resources Ltd., tel. +46 8 613 00 85 Besök även www.westsiberian.com