Zoltav Resources

Zoltav, the Russia-focused oil and gas exploration and production company, announces that the Company has entered into a loan agreement with ARA Capital Holdings Limited under which ARA Capital Holdings Limited has provided a revolving loan facility for up to US$9,000,000 (the “Loan”). ARA Capital Holdings Limited is the parent …

Zoltav, the Russia-focused oil and gas exploration and production company, provides a corporate and operational update about its operations at the Bortovoy Licence, Saratov. Production – West Bortovoy Natural production decline from existing well stock on the West Bortovoy fields continued at steeper rate in 2019 than in preceding periods. …

Zoltav (AIM: ZOL), the Russia-focused oil and gas exploration and production company, announces results for the six months ended 30 June 2019. Financial Summary ·    Revenues declined by 24% to RUB 632 million (USD 9.7 million) (H1 2018: RUB 831 million (USD 14 million)) ·    Total cost of sales was 2% lower at RUB 533.9 million (USD 8.2 million) (H1 2018: RUB …

Zoltav, the Russia-focused oil and gas exploration and production company, is pleased to provide an update on strategy and operations at the Bortovoy Licence, Saratov.  Western Gas Plant  The Western Gas Plant continued to be operated efficiently throughout 2018 with only one, scheduled, 48-hour maintenance shutdown. Average net daily production (sold to …

Zoltav (AIM: ZOL), the Russia-focused oil and gas exploration and production company, announces the appointment of Tigran Tagvoryan as Chief Executive Officer (non-board) of the Company effective immediately. Mr Tagvoryan joined Zoltav in November 2018, initially as Deputy Chief Executive Officer. He has significant senior level project development, finance, management and …

Zoltav, the Russia-focused oil and gas exploration and production company, announces results for the six months ended 30 June 2018. The Company’s continued focus on operational efficiency enabled it to generate a 4% increase in net profit to RUB 72 million (USD 1.21 million).   Financial Highlights ·     Revenues from production decreased, as anticipated, by 10% …

Zoltav (AIM: ZOL), the Russia-focused oil and gas exploration and production company, announces final results for the year ended 31 December 2017. Financial Highlights ·    Revenues from production declined, in line with expectations, by 10% to RUB 1.79 billion (USD 30.68 million) (2016: RUB 1.99 billion (USD 29.69 million))  ·     EBITDA increased …

Zoltav , the Russia-focused oil and gas exploration and production company, is pleased to announce the strengthening of its technical team with the appointments of former Bashneft and TNK-BP technical executives, Yuri Krasnevsky, as Director for Geology and Field Development, Andrei Zabolotnov, as Deputy Director for Field Development, and Vasily …

Zoltav (AIM: ZOL), the Russia-focused oil and gas exploration and production company, provides an update on financing for the ongoing exploration programme to assess the resource potential of the Carbonian and Devonian structures in the Western Fields of the Bortovoy Licence, Saratov.   As previously stated, Zoltav believes there is potential to …

Zoltav, the Russia-focused oil and gas exploration and production company, is pleased to provide an update on the Company’s exploration programme to assess the resource potential of the Carbonian and Devonian structures in the Western Fields of the Bortovoy Licence, Saratov.   Preliminary interpretation of the 180 sq km of 3D seismic …