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Petrosibir AB: Production report for October 2016

Petrosibir’s total oil production in October 2016 amounted to 44,460 barrels,
equivalent to 1,434 barrels per day.

The table below summarizes the production broken down by region.

* The production numbers above for Komi and Ukraine for 2015 have been
recalculated compared to what has been disclosed earlier. In the table above
the production for 2015 has been divided by 365 days whereas it previously
was divided by the actual number of days that the operations were owned by

Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a
production license in Bashkiria. Petrosibir also owns 49% of the Cypriot
company Ripiano, whose wholly owned Russian subsidiaries hold three
production licenses in Komi. Bashkiria and Komi are federal subjects of the
Russian Federation.

For more information, please contact:

Nikolay Millionshchikov, CEO, +46 8 407 1850

Gunnar Danielsson, deputy CEO and CFO, +46 70 738 0585

About Petrosibir

Petrosibir is a Swedish company focused on exploring and developing
concessions in Russia. Petrosibir’s Ukrainian operations have been
distributed to its shareholders. The company holds licenses in the Russian
republics of Bashkiria and Komi. Petrosibir’s 2P oil and gas reserves amount
to 35 million barrels of oil equivalent. The Petrosibir share is traded on
the OTC-list at beQuoted starting from 17 February 2016 under the symbol

This is an English translation of the Swedish original. In case of
discrepancies, the Swedish original shall prevail.

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