EXILLON ENERGY PLC - Drilling Update

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No 9 / 2013

Date of issue: 2013-03-01

Short name of the issuer

EXILLON ENERGY PLC

Subject

Drilling Update

Official market - legal basis

Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bieżące i okresowe

Unofficial market - legal basis

Contents of the report:

Exillon Energy plc Drilling Update 1 March 2013 1 March 2013 - Exillon Energy plc, a London Premium listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora ("Exillon TP") and West Siberia ("Exillon WS"), is pleased to announce a drilling update. ETP V - 5001 Well ETP V - 5001 was spudded on 1st October 2012 and drilled and cemented in 126 days on the northern tip of the ETP V licence area. The well encountered Lower Silurian reservoir at 3,223 metres, confirming 22.8 metres of absolute effective net oil pay within the Silurian reservoir. In addition, the well encountered Domanic reservoir at 3,204 metres, confirming 3.8 metres of absolute effective net oil pay. Due to the angled trajectory of the well bore, this well exposed 29.2 metres of effective net oil pay for production. The well is structurally elevated by 26 - 46 metres above known oil in the ETP V field, which supports the Group's assertion that this well may have discovered a new oil field that extends into the North ETP VII licence, also owned by the Group. Upon perforation, the well flowed water-free oil to the surface with a flow rate of 729 bbl/day from the Silurian reservoir. Core results illustrate that the reservoir is represented by fractured vugous porosity dolomites. The well was drilled 1.1 km to the north-east of Pad 5, and is now connected to existing production facilities. The drilling rig has now spudded Well ETP IV - 5002 targeting the northern part of the ETP IV field. ETP IV - 3000 Well ETP IV - 3000 was spudded on 1st September 2012 and drilled and cemented in 105 days on the southern part of the ETP IV field. The well encountered the Lower Silurian reservoir at 3,262 metres, confirming 12.5 metres of absolute effective net oil pay within the Silurian reservoir. In addition, the well encountered Domanic reservoir at 3,237 metres, confirming 1.6 metres of absolute effective net oil pay. Due to the angled trajectory of the well bore, this well exposed 15.8 metres of effective net oil pay for production. The well is currently flowing 567 bbl/day of fluid, of which 439 bbl/day is oil. The well is gradually increasing the oil flow rate as it cleans up the well bore from drilling mud and water used during completion. The well was drilled 0.86 km south of Pad 1, and is now connected to our existing production facilities. Well logging and testing results support our geological understanding of the ETP IV field. This is the last well on the southern margin of the ETP IV field, and the drilling rig has now been demobilized. Media contact: Łukasz Chudy Email: [email protected] Tel: [phone]

Annexes

File Description

EXILLON ENERGY PLC

(fullname of the issuer)

EXILLON ENERGY PLC Energetyka (ene)

(short name of the issuer) (sector according to clasification of the WSE in Warsow)

Wyspa Man

(post code) (city)

Fort Anne, Douglas, Isle of Man IM1 5PD

(street) (number)

[phone] [phone]

(phone number) (fax)

(e-mail) (web site)

(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY

Date Name Position / Function Signature

2013-03-01 Mark Martin CEO Member of the Board of Directors Mark Martin