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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Urals EN. | LSE:UEN | London | Ordinary Share | CY0107130912 | ORD USD0.126 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 35.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMUEN
RNS Number : 8978F
Urals Energy Public Company Limited
23 May 2017
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
23 May 2017
Urals Energy Public Company Limited
("Urals Energy", the "Company" or the "Group")
Operational update
The Board of Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to provide the following operational update.
Komi Republic
The Company announced on 10th April 2017 the spudding of its first well on its Ordymskiy block in the Komi Republic, held by its wholly owned subsidiary RK Oil. It had been expected that the target depth of 1,100 meters would be achieved in mid to late May 2017. The Company's drilling contractor, Vis-Mos Llc, a highly experienced drilling company in the Komi region, has had to proceed in the early stages of drilling more slowly than originally planned, due to hard mineral layers within the geological structure and delays in bringing additional equipment to the site due to the melting of winter roads and slow drying of the access ground roads. Operations can now proceed normally and it is expected that the target depth will be achieved by early July 2017 and completion will occur some two to three weeks later. The drilling contract is on a fixed sum basis and thus the delay will not cause additional expense to the Company.
Petrosakh
The Company announced on 18th April 2017, the spudding of well 130, with an intended target depth of 1,600 meters. Good progress has been made and drilling has reached 1,100 meters. The Company expects to reach the target depth by mid-June 2017. The drilling operation is being carried out by Urals own team and drilling rig.
Arctineft
The planned first shipment of approximately 30,000 tons of oil (237,000 barrels), is scheduled for the third week of June 2017.
- Ends -
For further information, please contact:
Urals Energy Public Company Limited Andrew Shrager, Chairman Tel: +7 495 795 Leonid Dyachenko, Chief 0300 Executive Officer Sergey Uzornikov, Chief www.uralsenergy.com Financial Officer Allenby Capital Limited Nominated Adviser and Broker Nick Naylor / Alex Brearley Tel: +44 (0) 20 3328 5656 www.allenbycapital.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDLLFLTEAIFFID
(END) Dow Jones Newswires
May 23, 2017 02:01 ET (06:01 GMT)
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