Ruspetro Plc (RPO), a Russian oil explorer, rose the most in eight weeks in London trading after reporting a 40 percent increase in oil and condensate output and reiterating its year-end target.
Ruspetro climbed as much as 8.4 percent, the biggest intraday gain since Sept. 13, and traded up 7.4 percent at 107.4 pence as of 8:38 a.m. London time.
Production has reached 7,853 barrels a day, up from 5,600 barrels a day on July 9, the Moscow-based company said today in a regulatory filing. Ruspetro, which operates at western Siberia’s Krasnoleninsk field, is on schedule to pump 10,400 barrels a day by the end of the year.
To contact the reporter on this story: Stephen Bierman in Moscow at firstname.lastname@example.org
To contact the editor responsible for this story: Will Kennedy at email@example.com