Ruspetro plc has completed its development well campaign in the area of Pad 23b on the Pottymsko-Inginsky licence block. The 2015 drilling campaign comprised two multi-stage fractured horizontal wells 210 (previously labelled 216) and 212, plus one deviated well (218).

The Group's average monthly oil production over the last two months has increased from 3,262 bopd in April to 5,325 bopd in May as the new wells have progressively come on stream, with production reaching 6,100 bopd at the end of May. The Group continues to evaluate and optimize these three wells and will report on their stabilized performance in due course.

The horizontal well programme implemented over the last year has moved the Group up a very steep learning curve with regard to the future development of our assets. New technology implementation has been aggressive, aided by risk-based decision making and extensive scenario-planning.

Tags: RusPetro plc