Andalas Energy And Power PLC Operations Update (9271N)

TIDMADL

RNS Number : 9271N

Andalas Energy And Power PLC

27 September 2019

27 September 2019

Andalas Energy and Power Plc

('Andalas' or the 'Company')

Operations Update

Andalas Energy and Power Plc, the AIM traded upstream oil and gas company (AIM: ADL), is pleased to announce an operations update on the Betun Selo KSO, in which it has a production interest further to the agreement announced on 21 June 2019. The Company is currently undertaking a 4-well workover programme on the project.

-- Workover of the BTN 03 well has commenced. All permits have been received from Pertamina and SKKMIGAS.

-- Commissioning of the new water injection pump is ongoing. A further announcement will be made once this is in operation and production across the 4 wells is at a stabilised level.

Andalas Energy, CEO, Simon Gorringe said "We are pleased with the progresss at Betun Selo especially now that we have secured all of the permits for BTN 03 and have commenced the workover. We look forward to combining the production from BTN 03 with the other 3-wells plus the yet to be commissioned water injection pump to enable us to reach and, I hope,exceed our target production rate of 150 bopd (gross)."

Qualified Person's Statement

The technical information contained in this announcement has been reviewed and approved by Mr. Gregor Mawhinney. Mr. Mawhinney is consulting for Andalas, acting in the role of Vice President Operations. He has 40 years' experience in the oil and gas industry, is a member of the Society of Petroleum Engineers (SPE) and a member of the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please contact:

 
 Simon Gorringe                 Andalas Energy and Power Plc   Tel: +44 1624 
                                                                681250 
 Graham Smith                   FIM Capital Limited            Tel: +44 1624 
                                                                681250 
 Roland Cornish/ James Biddle   Beaumont Cornish Limited       Tel: [phone] 
                                 (Nominated Adviser)            3396 
 Colin Rowbury                  Novum Securities Limited       Tel: [phone] 
                                 (Joint Broker)                 9427 
 Christian Dennis               Optiva Securities Limited      Tel: [phone] 
                                 (Joint Broker)                 1881 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

UPDEAXNXAEFNEEF

(END) Dow Jones Newswires

September 27, 2019 03:15 ET (07:15 GMT)