Russia-focused oil producer Exillon Energy saw earnings soar 59% for 2013 as oil price rises boosted the former takeover target.
The London-listed company hailed a successful 2013 after seeing net profits surge 161% to £44million compared to 2012.
Exillon, which was the target of two Russian takeovers last year, has oil fields in Siberia and Timan Pechora.
Production increased from 4,692,602barrels of oil equivalent in 2012 to 5,985,459 last year, the firm said.
“These excellent financial results are the result of our strong growth in oil production and the completion of our infrastructure,” said chief executive Mark Martin.
“Exillon is fast growing, profitable and cash rich. We are well placed to develop our 520million barrels of proven and probable reserves.”