Bloomberg News

Volga Gas Exploration Well in Southern Russia Fails to Find Oil

April 11, 2012

Volga Gas Plc (VGAS), a Russian oil and gas explorer listed in London, said the Yuzhny Romanovskaya-1 well in southern Russia failed to find hydrocarbons.

“Exploration drilling on the YR-1 well is disappointing as this was considered to be a relatively low-risk target,” Chief Executive Officer Mikhail Ivanov said today in a regulatory filing. Its resource potential hadn’t been included in previous reserves disclosures, he said.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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