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Petrosibir AB: Update on drilling in Bashkiria

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Oilfield Technology,

As previously announced Petrosibir commenced drilling well #9 on Ayazovskoye in Bashkiria in August.

The new well is located approximately 400 m north of the successful well #12. A target depth of 2596 m has been reached and the well has now been completed and oil has been found. Petrosibir is currently carrying out production tests. The tests are estimated to be completed within two weeks, whereupon Petrosibir will announce the results regarding volumes and possible further steps in the drilling programme.

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