Ruspetro plc publishes an update on its operations for the period from 1 January 2013 to 15 May 2013 and its financial highlights for the first quarter of 2013.

HIGHLIGHTS

• Q1 average production rate of 5,986 bopd ◦ Crude production: 4,613 bopd ◦ Condensate production: 1,373 bopd ◦ Gas production: 6,135 boepd (currently not sold)

• April average production rate of 5,452 bopd, of which 851 bopd is condensate • Pad 4 completed in the gas/condensate field, drilling commenced • Two further wells to be converted to water injectors in the Pad 21 area, scheduled to be completed in Q3 2013 • Rig build-up preparations progressing on Pad 23 • Seismic reprocessing is on-going for integration into the geological model update • Revenues of US$23.66 million, down US$0.998 million from Q4 2012, EBITDA of US$1.92 million, down US$0.48 million • Cash balance of US$26.01 million as of 31 March • Refinancing negotiations with Sberbank are progressing and are expected to be completed in H1 2013

Tags: RusPetro plc