As from today Malka Oil's annual report for 2007 is available at the
company's web page www.malkaoil.se"By working together, we have achieved the goals we set for ourselves
and we look forward to continue working in this spirit. Our
priorities remain firm: to find new resources that are commercially
interesting to extract and to rapidly increase our oil production"
writes Malka Oil's managing director, Fredrik Svinhufvud in the
annual report.
The printed version will be available by mid-May and will be
distributed to shareholders who are registered in the VPC
shareholders register as per April 30, 2008.
For further information, please contact:
Fredrik Svinhufvud, Managing Director Malka Oil, tel +46 8 5000 7811,
mobile +46 708 708 708
Richard Tejme, CFO, tel +46 8 5000 7812 mobile +46 707 31 52 17
For further information on Malka Oil AB, see the website
www.malkaoil.se
Malka Oil AB (publ) is an independent oil and gas production company
operating in the Tomsk region in western Siberia. Their current
position consists of oil and gas assets for license block number 87
in the said region. The block has a surface of 1,800 square
kilometres. There are currently three oil fields at the license
block, namely Zapadno-Luginetskoye ("ZL"), Lower Luginetskoye ("LL")
and the Schinginskoye oil field, and a large quantity of other not
yet drilled oil structures. The ZL and LL oil fields are in
production and these two oil fields field have also went through
reserve classification by the Russian State Committee of Reserves
(GKZ). A considerable drilling programme was carried out in 2007. The
GKZ registered extractable oil and condensate reserves in the
categories C1 and C2 amounted to 97 million barrels at the end of
2007. The company's own estimate of its extractable oil and
condensate reserves in the three existing oil fields on license block
number 87 is currently 140-190 million barrels.
Malka Oil's license block is surrounded by a large number of
producing oil and gas fields.
Reasonable caution notice: The statement and assumptions made in the
company's information regarding Malka Oil AB's ("Malka") current
plans, prognoses, strategies, concepts and other statements that are
not historical facts are estimations or "forward looking statements"
concerning Malka's future activities. Such future estimations
comprise but are not limited to statements that include words such as"may occur", "concerning", "plans", "expects", "estimates","believes", "evaluates", "prognosticates" or similar expressions.
Such expressions reflect the management of Malka's expectations and
assumptions made on the basis of information available at that time.
These statements and assumptions are subject to a large number of
risks and uncertainties. These, in their turn, comprise but are not
limited to i) changes in the financial, legal and political
environment of the countries in which Malka conducts business, ii)
changes in the available geological information concerning the
company's projects in operation, iii) Malka's capacity to
continuously guarantee sufficient financing to perform their
activities as a "going concern", iv) the success of all participants
in the group, or of the various interested companies, joint ventures
or secondary alliances, v) changes in currency exchange rates, in
particular those relating to the RUR/USD rate. Due to the background
of the many risks and uncertainties that exist for any
oil-prospecting venture and oil production company in its initial
stage, Malka's actual future development may significantly deviate
from that indicated in the company's informative statements. Malka
assumes no implicit liability to immediately update any such future
evaluations.
