Andalas Energy and Power Plc Update on Colter well programme

 
TIDMADL 
 
13 November 2018 
 
                         Andalas Energy and Power Plc 
                         ('Andalas' or the 'Company') 
 
                        Update on Colter well programme 
 
Andalas Energy and Power PLC, is pleased to report that Corallian Energy 
Limited ("Corallian"), the Exploration Operator for Licence P1918, has informed 
the joint venture partners that the Department for Business, Energy and 
Industrial Strategy, Offshore Petroleum Regulator for Environment and 
Decommissioning (OPRED) has advised the Oil and Gas Authority of its in 
principle agreement to the issue of the relevant consent for the Colter well, 
in which Andalas has an 8% interest. 
 
There are several regulatory approvals and notifications still required before 
the consenting process is completed for the work programme.  When all the 
necessary approvals have been obtained, Corallian expects to commence a 
two-well work programme, with the drilling of the Wick well (in which Andalas 
does not have an interest) expected to commence during December 2018. 
 Following completion of the Wick well, the rig will be mobilised from the 
Moray Firth to the English Channel to drill the Colter well. 
 
No further announcements are expected from Corallian until all the approvals 
are in place and the drilling programme has commenced. 
 
Simon Gorringe, CEO of Andalas Energy and Power PLC said "We are pleased with 
the continued progress of the operator towards the commencement of the proposed 
well, which follows today's announcement and the recent announcement of the 
contracting of the Ensco-72 rig to execute the Wick and Colter drilling 
programme. 
 
"The drilling of the Colter well will expose Andalas shareholders to an 
exciting period of drilling activity, whilst we continue to work with our 
partners to complete the acquisition of Bunga Mas and to provide updates on the 
Badger licence.  I look forward to keeping the market informed as we continue 
to progress our portfolio." 
 
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        Andalas Energy and Power Plc        Tel: [phone] 
Gorringe 
 
Roland       Beaumont Cornish Limited            Tel: [phone] 
Cornish/     (Nominated Adviser) 
James Biddle 
 
Colin        Novum Securities Limited            Tel: [phone] 
Rowbury      (Joint Broker) 
 
 
Christian    Optiva Securities Limited           Tel: [phone] 
Dennis       (Joint Broker) 
 
Stefania     Cassiopeia Services Limited         [e-mail] 
Barbaglio    (Public Relations) 
 
 
 
END 
 

(END) Dow Jones Newswires

November 13, 2018 02:00 ET (07:00 GMT)