Exillon Energy plc - Interim Management Statement Call on Apr 24, 2013

Exillon Energy plc announced interim management statement for the three month period ended March 31, 2013. The company produced oil 365 days a year. However the winter season allows the easiest and cheapest access to the fields, and is therefore the busiest time of year. Winter work consists of preparation for the 2013 drilling programme (constructing well pads and other facilities, and stockpiling drilling materials) and workovers of existing wells. It is currently drilling, or preparing to commence drilling, from four well pads in Exillon was (Pads 6, 7, 8 and 9) and three well pads in Exillon TP (Pads 2, 3 and 5). A total of 23 wells are planned - 6 in Exillon TP and 17 in Exillon WS. Most of the drilling is likely to be completed in the second quarter and in the third quarter, and the results will therefore be announced in the second, third and fourth quarters. This extensive drilling programme will allow to continue to increase the reserves, production and EBITDA during 2013. Workovers include fracture stimulations, acid treatments, pump replacements, well deepenings and sidetracks, conversions of wells to water injection, and various other types of well repair and enhancements such as well testing. A total of 41 such procedures were conducted on the wells during Q1. Well "down time" because of workovers was approximately 350 well days during the period. During the period, the company exported 463,868 barrels of oil at an average realised price of approximately $100.1per barrel, and sold 936,742 barrels within Russia at an average realised price of $45.8 per barrel. The difference in the sales price of exports and domestic sales is principally a function of export duty. The average selling price for oil continues to be higher than the budgeted level of $95 per barrel Urals (and the equivalent level for domestic sales). The company has ended first quarter with a cash balance of $108.9 million. This strong funding position gives the flexibility to adjust drilling plans throughout the year. The company had $100.2 million of debt, so net cash position as at that date was $8.7 million. US dollars account for approximately 80% of liquid assets, with the remaining 20% held in Russian Rubles. Capital expenditure during the period was approximately $33.0 million against $28.6 million for the first quarter of 2012. Of total capital expenditure, $9.8 million was attributable to drilling, $23.1 million to infrastructure and $0.1 million to seismic data acquisition and interpretation.

Exillon Energy plc announced consolidated unaudited earnings results for the year ended December 31, 2012 and production results for the month of December 31, 2012. For the year, the company recorded revenue of $301,928,000 against $202,971,000 a year ago. Operating profit was $18,791,000 against operating loss of $7,932,000 a year ago. Profit before income tax was $17,525,000 against loss before income tax of $7,557,000 a year ago. Net profit for the year was $12,142,000 or $0.08 per basic and diluted share against net loss for the year of $10,449,000 or 0.07 per basic and diluted share a year ago. Net cash generated from operating activities was $36,081,000 against $32,416,000 a year ago. Purchase of property, plant and equipment were $86,494,000 against $97,266,000 a year ago. For the month, production was up 45%, exceeding 16,000 bpd. Exillon TP produced 1,185,557 bbl and generating revenue of $51.9 million. Exillon WS produced 3,507,045 bbl and generated revenue of $250.0 million.