Exillon Energy confirms oil at Siberian well
Exillon Energy, the Russia-focused oil company, has said the East EWSI-571 well in West Siberia has confirmed 17.8 metres of effective vertical net pay.
Exillon Energy, the Russia-focused oil company, has said the East EWSI-571 well in West Siberia has confirmed 17.8 metres of effective vertical net pay.
Due to the angled trajectory of the well bore, this exposed 30.6 metres of effective net oil pay for production, the firm said. The well flowed water-free oil naturally to the surface, with a test flow rate of 882 barrels/day on an 8.0mm choke.
The well is the fifth development to be drilled in the area, with all of them giving consistent results.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"They have thicker than expected net pays, confirmed a highly permeable reservoir and none has discovered an oil water contact, proving a wider and thicker area of high quality reservoir across the northern extension of East EWS I. All five wells are currently flowing naturally, without pumps," the company said.
The share price rose 1.26% to 140.75p by 11:49.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Barclays begins paying up to £100 compensation to customers after banking outage
Barclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
By Daniel Hilton Published
-
Review: Shangri-La Paris – an ode to the world’s best food
Natasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
By Natasha Langan Published