Strongbow Exploration : Production report for December 2019

PRODUCTION REPORT FOR DECEMBER 2019

Petrosibir's total oil production during December 2019 amounted to 33,852 barrels, equivalent to 1,092 barrels per day.

The table below summarises the average monthly / daily production in 2019 and 2018, broken down by region.

TOTAL PRODUCTION, BBL	2018	2019
	Average	Jan	Feb	Mar	Apr	May	Jun
Bashkiria	12 916	11 884	10 607	9 826	9 892	10 227	9 833
Komi	27 778	23 883	21 981	25 201	22 741	23 121	21 072
Total barrels	40 694	35 767	32 587	35 026	32 632	33 348	30 905
		Jul	Aug	Sep	Okt	Nov	Dec
Bashkiria		10 563	10 746	10 505	10 592	10 315	10 643
Komi		24 362	28 326	26 640	27 106	23 975	23 209
Total barrels		34 925	39 071	37 144	37 699	34 290	33 852
PRODUCTION PER DAY, BBL	2018	2019
	Average	Jan	Feb	Mar	Apr	May	Jun
Bashkiria	425	383	379	317	330	330	328
Komi	914	770	785	813	758	746	702
Total barrels per day	1 339	1 154	1 164	1 130	1 088	1 076	1030
		Jul	Aug	Sep	Okt	Nov	Dec
Bashkiria		341	347	350	342	344	343
Komi		786	914	888	874	799	749
Total barrels per day		1 127	1 260	1 238	1 216	1 143	1 092

Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a production licence in Bashkiria. Petrosibir also owns 49% of the Cypriot company Ripiano, whose wholly owned Russian subsidiaries hold three production licences in Komi.

About Petrosibir

Petrosibir is a Swedish company focused on exploring and developing concessions in Russia. The company holds licences 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 under the symbol PSIB-B.

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