West Siberian Resources - Monatsölproduktion

January oil production
2006-02-03 08:20

www.westsiberian.com

West Siberian Resources Ltd's oil production during January 2006 amounted to 407,516 barrels or 13,146 barrels per day. Production numbers do not include production from the recently announced Saneco acquisition. January pro forma oil production, including the Saneco acquisition, amounted to 589,480 barrels or 19,015 barrels per day. In January 2005, oil production averaged 5,870 barrels per day.

Due to severe weather conditions in the Tomsk and Timano-Pechora regions, oil production was negatively affected. In total, 11 wells were shut-in during part of the month. 3 wells were back on production in January with the remaining wells expected to come online again in early February. The Middle Nyurola field was exposed to ambient temperatures below -35°C for 19 days out of 31 in January. The Khvoinoye field was exposed for 24 days. Some days the temperature was down to -53°C. The Regional emergency situation commission announced an emergency situation status in the Tomsk region. The Timano Pechora region had been subject to temperatures below -35°C for 6 days.

During the month, oil was produced from five fields in the Tomsk and Timano-Pechora regions. Two water injection wells were completed in the Middle Nyurola field in the Tomsk region. The 52 kilometer Middle Nyurola winter road construction was finished. The rigs that have been active at the Middle Nyurola field will be moved to the Kluchevskoye field where they will be deployed for field development in the spring.

In the Middle Kharyaga field in Timano Pechora, one well is currently being drilled. Workovers of two wells to reduce water cut and install new pumps are being completed. A second pad pump for the water injection system has been delivered to the field. The pump is not set up yet because of low temperatures. Land restoration at the commercial metering unit has been completed per the environmental legislation requirements. The construction of a 10 km winter road to Middle Kharyaga and a 15 km road to well #10 at North Kharyaga were finished.





For further information:
Maxim Barski, Managing director, West Siberian Resources Ltd.,
tel. +7 495 956 48 82
Eric Forss, Chairman, West Siberian Resources Ltd.,
tel. +46 8 613 00 85 or +46 70 523 86 62


 

Wir werden mit dieser Aktie , Zahlen kommen ja am 28.02.2006 , noch eine Menge Freude
haben . Bin leider erst bei 0,52 rein !
 

West Siberian Resources Ltd's oil production in February 2006 amounted to 374,850 barrels or 13,388 barrels per day. Production numbers do not include production from the recent Saneco acquisition. February pro forma oil production, including the Saneco acquisition, amounted to 532,878 barrels or 19,031 barrels per day. In February 2005, oil production averaged 4,040 barrels per day.

During the month, oil was produced from five fields in the Tomsk and Timano-Pechora regions. Most wells that were shut in due to the severe cold in January were put back on production and reached normal production rates in February.

In the Tomsk region, two new production wells were completed in the Middle Nyurola field with production stimulation activities commencing. Preparations were made to start development of the Kluchevskoye oil field in the spring.

The acquisition of Saneco, an oil producing company in the Volga-Ural region of Russia, was closed. The main assets acquired include 3 production licenses and 3 exploration licenses covering a total of eight fields. March 2006 will be the first full month for consolidation of the Saneco's operatio



MBG SOWA  

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March oil production
2006-04-05 09:06




West Siberian Resources Ltd's oil production during March 2006 amounted to 576,854 barrels or 18,608 barrels per day, including the Saneco acquisition. In March 2005, oil production averaged approximately 5,600 barrels per day. In the Volga Urals region a new field discovery was made and is being evaluated.

During the month, oil was produced from nine fields in the Tomsk, Timano-Pechora and Volga Urals regions.

Tomsk region
Hydro fracturing works were successfully completed at 3 production wells, number 106, 115, 109, in the Middle Nyurola field.

Timano Pechora region
In the Middle Kharyaga field, a new well, number 1004 was put into operation. The water injection system is also operational. In the North Kharyaga field, three older wells are being reactivated. The construction of a pipeline and power grid from Middle Kharyaga to North Kharyaga is in progress. The Federal Agency of the Interior of the Earth Use (Rosnedra) has extended the license for the Liginski block until the end of 2007, for geological studies, searches and estimations of hydrocarbons. Drilling of the first exploration well has commenced.

Volga Urals/Samara region
In the Kovalevskoye area, the first exploration well resulted in a new field discovery. The well was completed and tested with initial test rates of 2,100-2,500 barrels per day from two formations. The discovery is being evaluated and additional wells are planned. In the Kochevnenskoy oil field a drilling rig has been installed. Five production wells are planned to be drilled in the field in 2006 and 2007.
 

West Siberian Resources (WSR) has seen a number of important developments in recent months, which came on the back of the company’s strong operational and stock market performance in 2005. The remarkable success last year was followed by the arrival of Repsol YPF as a strategic partner and WSR’s purchase of Saneco in January 2006, which sent the stock price up another 52% year-to-date. In this note we sought to update our investment case for the company to reflect its recently reported 2005 financial results, new production and capex guidance, Saneco acquisition and several recent share issues.

WSR’s 2005 results showed significant improvements in revenue and EBITDA compared to 2004 and were broadly in line with expectations. Revenue was 7% ($6mn) below our estimate at $79mn, while EBITDA matched our forecast of $26mn with lower operating expenses offsetting the trailing revenues. Due to a DeGolyer & MacNaughton reserves re-evaluation, fourth quarter DD&A expense of $10mn was up 2.5X compared to the 9M05 total charge of $4mn, putting full year depreciation at $14mn – significantly higher than our $6mn estimate. Higher depreciation, combined with rising interest expenses reduced WSR’s net income to just $0.23mn in 2005 compared to our forecast of $9mn, although all cash flow-based metrics were in line with our estimates.

A recently completed study by DeGolyer & MacNaughton appraised WSR’s 2P reserves at 176mn bbls. The D&M appraisal was well below the 293mn barrels under the Russian ABC1+C2 classification and caused a significant increase in DD&A charges under IFRS, which as explained above depressed 2005 net income and prompted us to revise our depreciation forecast going forward.

In March 2006, WSR provided updated oil production forecasts for its current assets, which we incorporated into our DCF model of the company. The acquisition of Saneco in February will add about 6mbpd of production for 2006 (pro-forma); this also prompted WSR to raise its total projected oil production peak to 2mn tons a year (40mbpd) by 2010. With WSR accepting a less aggressive near-term growth plan, our forecasts continue to remain reasonably conservative as we prefer to err on the side of caution following what we regard as a disappointing performance at VTK in 2005. The development program for the Lek and North-Kharyaga fields has been delayed by a year; WSR has also revised its capex program by bringing forward around $25mn in capital expenses.

Further changes in our valuation included accounting for WSR’s equity placements and a lower forecast beta. We have increased the number of shares outstanding to reflect the three recent shares issues, while also crediting the company’s balance sheet with the proceeds. WSR’s expanding investor base and rising free float resulted in our forecast beta being reduced to 1.0 to reflect sustained trading volumes in excess of $100mn per month.

Rating remains Hold, but WSR has defied our expectations before. Having adjusted our model for the new production and capex guidance and having incorporated the data from WSR’s recent equity placements, we arrived at a new end-2006 target price of $1 (or SEK 7.8). Based on the limited upside to the current market price, our recommendation remains Hold. We note, however, that WSR’s performance in 2006 and beyond could be bolstered by its strategic partnership with Repsol YPF, implying potential for further acquisitions and organic growth at the company’s key assets. WSR’s valuation has remained a moving target throughout 2005 due to a string of acquisitions, resulting in a constant mismatch between our valuations (based on existing assets) and the company’s market value, which constantly reflected expectations of more deal-driven growth. This scenario may well repeat itself in 2006. http://www.aton.ru/en/index.asp  

West Siberian Resources Ltd's oil production during April 2006 amounted to 523,762 barrels (165,180 barrels) 1) or 17,459 barrels per day (5,506 barrels per day). Production of approximately 1,150 barrels per day was shut-in for the full month due to licensing delays in Volga Urals. The company has updated its capital program and production plan and now plans to produce 8.5 million barrels of oil in 2006.

Tomsk region
Workovers were carried out at 7 production wells in the Middle Nyurola field where recent hydrofracturing activities also contributed to production increasing following the severe winter. At the Kluchevskoye oil field, drilling has started.

Timano Pechora region
In the Middle Kharyaga field, two production wells were taken out of production to be converted to water injection wells and well number 1011 was shut-in to be sidetracked. Drilling was completed at well number 140A which was successfully sidetracked and returned to production. Total production in the region was slightly lower than in March due to these activities.

Volga Urals region
Production of approximately 1,150 barrels per day was shut-in, for the full month, at the West Kochevnenskoye field. Production had to be stopped awaiting that the current exploration license is converted to a production license, which is expected during the current quarter. Excluding the West Kochevnenskoye field, Volga Urals production was higher than in March, following workovers at eleven wells.

In the Kovalevskoye area, production tests will be started at the recent discovery well, subject to necessary approvals and permits. Further exploration activities are scheduled in order to define the potential reserves of the field.

2006 Capital Program and Production Plan
Following the recent closing of the Saneco acquisition, management has reviewed the plans for the Volga Urals region. West Siberian Resources Ltd now plans total capital expenditures of USD 84.7 million in and expects to produce a total of 8.5 million barrels of oil from the fields in the Tomsk-, Timano Pechora- and Volga Urals regions. A total of 24 production and injection wells, including 4 exploration wells, are planned to be drilled in 2006.

For further information:
Maxim Barski, Managing director, West Siberian Resources Ltd., tel. +7 495 956 48 82
Eric Forss, Chairman, West Siberian Resources Ltd., tel. +46 8 613 00 85 or +46 70 523 86 62

Also visit www.westsiberian.com

West Siberian Resources Ltd is an independent oil company active in Russia. West Siberian´s depository receipts are traded on Nya Marknaden of the Stockholm Stock Exchange under the symbol WSIB.

MBG sowa
 

West Siberian Resources Ltd's has scheduled a conference call at 9 am UK time (10 am Swedish time) on Thursday, June 1 to review first quarter 2006 earnings which will be announced on Wednesday May 31 in the afternoon.
steigt wieder laufend seit einigen Tagen  

Interim report for the quarter ended March 31, 2006

2006-05-31 13:17

• Total revenue increased by 338% to MUSD 42.6 (MUSD 9.7)*
• EBITDA amounted to MUSD 14.9 (MUSD 3.2)
• The result before tax and minority interests improved to MUSD 7.6 (MUSD 2.3)
• Net result after tax reached MUSD 6.3 (MUSD 2.0)
• Earnings per share amounted to USD 0.01 (USD 0.00)
• Oil production increased by 220% to 1,421,872 barrels
• MUSD 162.4 in equity raised for the Saneco acqusition and debt repayment
• Strategic entry into Volga Urals and strategic alliance formed with Repsol YPF  

07.11.2006
Erwirbt Nortoil für $115mn und addiert Fässer 103mn Reserven 2P

Sibirische Westbetriebsmittel (WSIB) verkündeten den Erwerb von Nortoil, eine russische Ölfirma, welche die Lizenz hält, das Kolvinskoye Öl zu entwickeln, auffangen in der Nordregion von Timan-Pechora. Der Erwerb fügt 139mn Fässer Reserven C1+C2 der gegenwärtigen Gesamtmenge der Firma von Fässern 292mn unter russischer Klassifikation, eine Zunahme von 47% hinzu.

Eine einleitende Schätzung unter SPE Methodenlehre durch DeGolyer u. MacNaughton setzte die auffangenreserven an Fässern 103mn und holte die Gesamt2P SPE der Firma Reserven zu Fässern 279mn, herauf 58%. Der Preisumbau des Abkommens von $115mn (einschließlich Schuldannahme) deutet die Reserven wurden erworben an $1.12/bbl, ein 83% Diskont zur gegenwärtigen Marktschätzung der Firma an. Das Abkommen sieht folglich stark Wertzuwachs aus, wenn die zusätzlichen Synergien von der Kombination verwirklicht sind, mit anderen Betrieben der Firma in Timan-Pechora und in Usinsk.

WSIB Reserven wachsen 58% durch einen Wertzuwachserwerb In Mangan Fässern 2P ABC1+C2
WSR gegenwärtige bestätigte Reserven 176.2 292.5
Neuanschaffung - Kolvinskoye 103.0 138.9
Gesamtreserven nach Erwerb 279.2 431.4
Kosten Reserven fügten, $/bbl hinzu 1.12 0.83
Vorhandene Reserveschätzung ab November 2, 2006, $/bbl 6.57 3.96


Quelle: Firmadaten; Aton Schätzungen

Unserer Meinung nach hebt die Verhandlung noch einmal den Wert der seine Fähigkeit des Managements Firma hervor und, eine Strategie des organischen und Zusatzwachstums leistungsfähig durchzuführen, das in diesem Fall direkt in verbesserte Reserveschätzung übersetzt.

Separat berichtete die Firma über seine Produktion war hinunter etwas Monat-auf-Monat im Oktober, groß wegen der Wartung von Ausrüstungsgegenständen und der wohlen Reparaturen. Produktion WSIBs war Fässer 0.798mn, mit Tagesleistung hinunter 3% von einem September 2006.

Wir haben eine Einfluß- Empfehlung über sibirische Westbetriebsmittel, mit einem angemessenen Wert end-2007 von $0.71; wir planen, die Neuanschaffung in unser Modell kurz zu enthalten.


 

..jetzt heißt es die 0,87 € widerstandslinie - bestehend aus februar + mai zu durchbrechen,momentum im 20 / 50 / 250 tagesdurchschnitt ist bullisch, obwohl öl seit wochen leichter notiert - stieg west seberian an ...