Andalas Energy and Power Plc - Rig contract signed

28 September 2018

Andalas Energy and Power Plc

(‘Andalas’ or the ‘Company’)

Rig contract signed with Ensco for a jack-up to drill the Colter well

Andalas Energy and Power Plc, the AIM listed upstream oil and gas and energy company (AIM: ADL), is pleased to announce an update on its Colter prospect, in which it recently announced an agreement to earn an 8% interest. 

The operator, Corallian Energy Limited (“Corallian”), has signed a contract with UK based drilling contractor Ensco U.K. Ltd for the provision of the Ensco-72 jack-up drilling unit for its Colter well. 

The timing for drilling the well is dependent upon the receipt of the necessary regulatory approvals and consents.  Based upon the current estimates for receipt of these, Corallian is expecting to commence to drill the well during Q4 2018.

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: [phone]
Roland Cornish/ James Biddle	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Colin Rowbury	Novum Securities Limited (Joint Broker)	Tel: [phone]
Christian Dennis	Optiva Securities Limited (Joint Broker)	Tel: [phone]
Stefania Barbaglio	Cassiopeia Services Limited                                       (Public Relations)	[e-mail]

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