Record flow rate from new well in Russia The fourth well on

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Oct 3, 2013 at 4:30 AM

Record flow rate from new well in Russia

The fourth well on the Rustamovskoye oil field in Russia has been taken into production with an initial flow rate exceeding 300 barrels per day, which is significantly higher than the field’s previous wells. Shelton Petroleum’s Russian and Ukrainian operations have now jointly reached a total production of approximately 1,000 barrels per day. The new well #12 has been drilled to a total depth of 2,500 meters. Following a test program, the well has been put into production. It currently produces more than 300 barrels per day and the total production from the field amounts to approximately 700 barrels per day. The well encountered oil in the same sandstone formation as the three previous wells are producing from. The oil-bearing formation came in deeper than expected, and as a result the well has significantly extended the known oil column. The reservoir properties are of high quality with 8 meters of net pay, compared to up to 3 meters in previous wells. The higher net pay allows for higher well productivity as well as better conditions for future horizontal drillings with superior well economics. “The results from the #12 well are extremely encouraging and provide a new and improved view on the ultimate potential of the field. If we can repeat these results in future drillings, the company will be able to increase its reserves substantially at the next reserves update. Shelton Petroleum’s opportunities to successfully develop its three fields in Bashkiria will increase manifold”, says Robert Karlsson, CEO of Shelton Petroleum. Later this year, Shelton Petroleum intends to publish a geologic update on the Rustamovskoye field, taking into account the new results from the successful drilling of the #12 well. For more information, please contact: Robert Karlsson, CEO, Shelton Petroleum, +46 709 565 141 robert.karlsson@sheltonpetroleum.com www.sheltonpetroleum.com About Shelton Petroleum Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. In Russia, the company holds three licenses in the Volga-Urals area in Bashkiria and has commenced production on the Rustamovskoye field after a successful exploration program. In Ukraine, Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta and Chornomornaftogaz, two leading Ukrainian oil and gas companies. The Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the under the symbol SHEL B.

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

LEGO Mashes Star Wars and Marvel for Fans' Delight

A New Chapter in LEGO's Story Well, well, what do we have here? LEGO's throwing down the gauntlet. For the first time, they're asking fans to merge two colossal universes: Star Wars and Marvel. Talk about a brains-and-bricks bonanza! Announced at New York Comic Con with some star power from Kevin Smith, this LEGO Ideas challenge opens doors for fan creativity that might...

Sebela Pharma's Tegoprazan Posts Strong Phase 3 Data

Spotlight on Tegoprazan: A New Player on the GERD Field Sometimes, a pharma company turns heads with data that speaks for itself. This time, Sebela Pharmaceuticals is doing just that with Tegoprazan's phase 3 results, shining a light on an area overlooked for too long: non-erosive reflux disease (NERD). Showing promise in its latest trials, Tegoprazan is muscling into the...

Pacira BioSciences Faces Shareholder Revolt in M&A Deal

A New Storm Brews Over Pacira's Sale to Viatris They say where there's smoke, there's fire, and it looks like Pacira BioSciences, Inc. (NASDAQ: PCRX) is running right into a bonfire thanks to their upcoming sale to Viatris Inc. On the face of it, shareholders are looking at a tidy $36.50 in cash per share, but not everyone's buying the deal as fair. Enter lawman Juan...

AbbVie's SKYRIZI and RINVOQ Highlight IBD Control Advances

A Deeper Look Into AbbVie's Latest Data Let's cut straight to the science, folks. At the recent American College of Gastroenterology 2026 Annual Scientific Meeting, AbbVie pulled the curtain on 22 fresh scientific abstracts that are really shaking things up in the field of inflammatory bowel disease (IBD) treatment. Data from the Phase 3 AFFIRM study shined especially...

Duolingo Faces Lawsuit Over Alleged Investor Missteps

Fasten your seatbelts, folks. We're diving into a legal tussle that could shake things up for Duolingo, Inc. (NASDAQ: DUOL). Investors who plunged into Duolingo shares between May 2, 2025, and February 26, 2026, might be feeling the heat now. They ought to brace for a class-action lawsuit frenzy with fingers pointed at Duolingo for allegedly pulling wool over investors'...

2026 Community Impact Week: Slam Dunk for Community Unity

Alright, if you're looking for a story that gives you those warm fuzzy feelings while wrapping you in a big sports hug, here it is. Imagine this: you've got basketball legends, world-class athletes, and a corporate heavyweight, all huddling up to make a community impact that's more than just warm air. Hoops, Hope, and High Fives The NBA Cares x Sands Cares Community...

Celltrion Unveils New Data on Infliximab: ACG 2026 Insight

First Impressions: Celltrion's Latest Revelation Alright, let's jump straight into it. Celltrion USA is flaunting its latest findings on ZYMFENTRA® (infliximab-dyyb) for Crohn's disease and ulcerative colitis right at the American College of Gastroenterology's (ACG) grand event in 2026. If you've been watching the healthcare sector, this is significant news. It's got all...

Top 5 Most Recently Viewed Articles

Bank of Canada Considers Interest Rate Cuts Amid Growth Concerns

Bank of Canada Considers Possible Rate Cuts Recent discussions reported by the Financial Times reveal that Governor Tiff Macklem of the Bank of Canada has started exploring the possibility of increasing the pace at which interest rates could be cut. This potential shift highlights the Bank's response to growing concerns about the Canadian economy's current dynamics....

Photonics Market Poised for Massive Growth by 2030

Understanding the Photonics Market Growth The photonics industry is on an impressive trajectory, with projections indicating it will grow significantly over the coming years. Experts foresee the market expanding from approximately USD 1,093.96 billion to an astounding USD 1,481.80 billion by 2030, reflecting a compound annual growth rate (CAGR) of around 6.3%. This rapid...

Brookfield Infrastructure Plans Redemption of Preferred Units

Brookfield Infrastructure Announces Series 3 Redemption Plan BROOKFIELD, News - Brookfield Infrastructure Partners L.P. (TSX: BIP.UN; NYSE: BIP) has announced its intention to redeem all outstanding Cumulative Class A Preferred Limited Partnership Units, Series 3 (the “Series 3 Preferred Units”). This strategic decision aims to enhance their portfolio's financial...

How a $1000 Investment in Enphase Energy Grew to $3200

Transforming $1000 into $3200 with Enphase Energy Investing can be a journey filled with uncertainties, but the story of Enphase Energy (NASDAQ: ENPH) reveals a powerful lesson in the potential of financial growth. Over the past five years, Enphase Energy has impressively outperformed many market benchmarks, achieving a remarkable annualized return of 26.49%. At present,...

Investors Should Pay Attention: Rocket Pharmaceuticals Lawsuit Update

The Class Action Lawsuit Against Rocket Pharmaceuticals Recently, investors of Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) have been advised to participate in a class action lawsuit for potential securities fraud. This lawsuit arises from significant concerns over the company's disclosure practices and the impact of leadership decisions on stock performance. If you are an...