Zoltav Resources Inc. reported audited consolidated earnings and operating results for the year ended December 31, 2017. For the period, the company reported revenue of RUB 1,790,524,000 compared to RUB 1,989,430,000 a year ago. Operating profit was RUB 450,468,000 compared to RUB 441,013,000 a year ago. Loss before tax was RUB 1,432,945,000 compared to profit of RUB 197,437,000 a year ago. Loss for the year attributable to owners of the parent being total comprehensive income was RUB 1,269,978,000 compared to profit of RUB 97,101,000 a year ago. Loss per diluted share attributable to owners of the parent were RUB 8.95 compared to earnings per diluted share of RUB 8.95 compared to RUB 0.67 a year ago. EBITDA increased by 5% to RUB 888 million compared to RUB 846 million a year ago. Net cash generated from operating activities increased by 1% to RUB 728 million compared to RUB 719 million a year ago. Capital expenditure in relation to exploration and evaluation activities was RUB 132,635,000 compared to RUB 56,048,000 a year ago. Purchase of property, plant and equipment was RUB 317,063,000 compared to RUB 436,416,000 a year ago.

For the year 2017, the company's net production declined, in line with expectations, by 13% to 2.6 mmboe in 2017 compared to 3 mmboe a year ago. Natural gas: 14.8 bcf (418 mmcm) or 2.5 mmboe (335.5 mtoe) compared to 16.8 bcf (475.8 mmcm) or 2.8 mmboe (381.9 mtoe)) a year ago. Oil and condensate: 122,962 bbls (15,663 t) compared to 163,967 bbls (20,888 t) a year ago. Production from Zoltav's Western Gas Plant on the Bortovoy Licence, Saratov, averaged 7,075 boe/d (965 toe/d) during 2017, a decline of 13% when compared to 8,118 boe/d (1,108 toe/d) in 2016. This comprised average production of 40.4 bcf/d (1.15 mmcm/d) of natural gas and 337 bbls/d (43 t/d) of oil and condensate (2016: 46.0 bcf/d (1.3 mmcm/d) of natural gas and 449 bbls/d (57 t/d) of oil and condensate).