Skip to main content

Maha Energy AB: Announce September Production Volumes and extends invitation to Annual Investor Presentation 7 October

Written by Customer Service on . Posted in Public Companies.

Maha Energy AB (publ)
Strandvägen 5A
SE-114 51 Stockholm
www.mahaenergy.caPress release
Stockholm
October 3, 2020Maha Energy AB (publ) Announce September Production Volumes and extends invitation to Annual Investor Presentation 7 October.Production VolumesThe Company’s aggregate sales production for the month of September totaled 89,7121 barrels of oil and 47.543 million scf of gas for a combined average production of approximately 3,255 BOE/day2, before royalties and taxes.During the month of September the dual GTE-4 oil producing well was shut down for 14 days, due to workover operations to fish a stuck blanking sleeve in the Agua Grande (AG) short string.  Fishing operations to date have been unsuccessful and a more rigorous workover operation is now scheduled during the fourth quarter to restore production from the AG zone.  Production from GTE-4 well (Sergi zone) was resumed on the 28th of September and is performing as expected. Tartaruga had issues during the month with unreliable power from the local grid – back up generation is installed and production is stabilizing.The annual Maha Energy Investor and Shareholder Presentation will be held at 17:00 CET on 7 October, 2020. Jonas Lindvall, Managing Director of Maha Energy AB will host a virtual presentation of the Company’s activities and future plans.  Questions can be posed ahead of the presentation by e-mailing Victoria@mahaenergy.ca. Please visit https://mahaenergyab.se/events/ for further details.The information was submitted for publication, through the agency of the contact person set out above, at 22:05 CEST on 3 October 2020.1   Subject to minor standard industry adjustments at the time of custody transfer.
2   Barrels of oil equivalent (“BOE”) conversion ratio of 6,000 scf: 1 bbl is used.For more information, please contact:        Jonas Lindvall (CEO)
Tel: +46 8 611 05 11        
Email: jonas@mahaenergy.caorVictoria Berg (Investor Relations)
Tel: +46 8 611 05 11      
Email: victoria@mahaenergy.caMaha in BriefMaha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser and can be contacted at info@fnca.se or +46-8-528 00 399. The Company’s auditors are Deloitte. The Company’s predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 30 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha’s strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates four oil fields, Tartaruga and Tie in Brazil, Powder River (LAK Ranch) and Illinois basins in the United States For more information, please visit our website www.mahaenergy.ca.Attachment2020-10-03 Production Numbers Update & Investor Ppt

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.