2,17 SEK

Aktiekurs 13.37

The licence covers the entire Salah ad-Din region – about 24,000 square kilometres in northern Iraq. The licence covers a number of existing oil fields, such as Ajeel, Hamrin, Tikrit, and Balad.

Despite the large, obvious commercial discoveries, production has been limited. Activities have been hampered due to the political instability of the last 20 years. No work is currently being done in the licence area itself in view of the security situation in the region, and other work being done has primarily concerned licence conditions and planned future strategy. 

Given the trend in Iraq in general and in the region in particular. It has been observed that the regions have acquired greater influence over their own assets from Baghdad. Given that Crown Energy's licence is contracted with the Salah ad-Din region, this development is positive for Crown Energy. 

CROWN ENERGY REMAINS POSITIVE AND HOPEFUL ABOUT A BETTER FUTURE in Iraq in general and in Salah ad-Din in particular. The licence is extremely rich in oil assets and features a large number of oil fields, some of which are or have been in production and many are either in need of restoration or development. For long periods it has been impossible to operate in the area, but this has now changed; the security situation is better, the region is almost completely free from crisis hot spots and the regions have greater influence. Crown Energy's hope is that in 2018/2019 be able to resume some work in Salah ad-Din.

License: Salah ad-Din, Iraq

Operator: Crown Energy Iraq AB

Share (working interest): 60%

Other partners: Salah ad-Din Provincial Government

Salah ad-Din - Iraq

Stage

Gross contigent resources 2C (mmboe)

Gross prospective resources (mmboe)

Total resources mmboe

Net WI (mmboe)

Exploration/Appraisal

174

2,683

2,857

2,857

Crown Energy's working interest (WI) is 60%.

All resources in mmboe (Million Barrels of Oil Equivalents). Crown Energy calculates reserves and resources according to Society of Petroleum Engineers Petroleum Resources Management System of 2007.

Crown Energy AB (publ)

Norrlandsgatan 18, SE-111 43 Stockholm

Phone+46 8 400 207 20

Fax+46 8 400 207 25

Emailinfo@crownenergy.se

Organisationsnummer556804-8598