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OVERVIEW

Zoltav is a Russia-focused oil and gas exploration and production company.

Zoltav holds the Bortovoy Licence in the Saratov region of South Western Russia, a 3,215km² area along the northern margin of the Pre-Caspian basin, one of the largest hydrocarbon basins in the CIS.

The Bortovoy Licence contains a number of productive gas fields and a processing plant in the Western area of the licence. It holds Proved plus Probable reserves of 750 billion cubic feet (21.2 billion cubic metres) of gas and 3.9 million barrels (488 thousand tonnes) of oil and condensate. In 2015 the Bortovoy Licence produced 3.1 million barrels (440 thousand tonnes) of oil equivalent.

Zoltav believes there is scope for significant additional production from the undeveloped resource in the Eastern Fields of the Bortovoy Licence where the company is working to better understand the feasibility and economic viability of the development options.

Zoltav also holds the Koltogor Exploration and Production Licence, a 528km² area in the Khantiy-Mansisk Autonomous Okrug of Western Siberia, one of Russian’s most prolific oil producing regions.

The Koltogor Exploration and Production Licence contains the Koltogor oil field with Proved plus Probable reserves of 79.2 million barrels (10.3 thousand tonnes) of oil equivalent.

Additionally, Zoltav holds the Koltogor Exploration and Production Licence 10, a 167km² area due west of the Koltogor Exploration and Production Licence, containing the West Koltogor oil field.

Zoltav intends to bring in a partner at the appropriate time to assist with further appraisal and development of the Koltogor Licences.

Zoltav has experienced management from the Russian oil and gas sector and supportive principal shareholders, Arkadiy Abramovich (ARA Capital) and Valentin Bukhtoyarov (Bandbear).