Maha Energy Announces August Production Volumes

Source: www.gulfoilandgas.com 9/3/2020, Location: South America

Production Volumes
The Company's aggregate sales production for the month of August totaled 101,2041 barrels of oil and 56.461 million scf of gas for a combined average production of approximately 3,568 BOE/day2, before royalties and taxes, which was in line with the Company’s expectations for the month.

A 3 day planned shutdown of the Tie Production Facilities affected production of oil and gas from the Tie field during the month of August. The Tie field also suffered a string of electrical power failures and shortages during the month. Lastly, also at the Tie field, well testing and flow-back work on the GTE-4 short string (Agua Grande) necessitated the long string (Sergi) to be temporarily closed in.

Effects, such as reduced manning and movement restrictions, of the Covid-19 Pandemic continue to adversely affect production in Brazil.
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.


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