Petrosibir: 2017 Results – H1: Producing More Oil, Generating More Revenue, Optimising Costs

January – June 2017 

• Total revenue: SEK 20 (11) million
• Operating result: SEK -2 (-11) million
• Result from equity investment SEK 6 (8)
• Net result: SEK 4 (-5) million
• Earnings per share: SEK 0.12 (-0.15)

Statement from CEO 
Dear Shareholders, As you will see in this report Petrosibir is making a considerable progress in producing more oil, generating more revenue, optimising costs and improving the netback from the oil sales. Although we have benefited from the growth in the oil price, the improving indicators are mainly attributable to the professional teams running the operations in Bashkiria and Komi. We hope that the ongoing drilling and workover campaign will continue delivering encouraging results. In addition to focusing on operations we will be looking for opportunities to increase the shareholder value through M&A activities.

Petrosibir Interim Report Q2 2017.pdf