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Enwell Energy Plc recently announced a significant development in its ongoing legal challenges regarding its Vasyschevskoye (VAS) production licence in Ukraine. On February 27, 2025, the Second Appeal Administrative Court in Ukraine reinstated the suspension of the VAS licence, reversing a prior court ruling that had lifted the suspension. This decision builds on actions taken in late 2024 when the State Geologic and Subsoil Survey of Ukraine issued long-term suspension orders affecting multiple production licences, including VAS, which Enwell has been actively contesting in court.
The outcome of this legal battle is crucial for Enwell’s operational capabilities and financial performance, as the VAS licence is central to its oil and gas production activities. The company’s engagement in legal proceedings underscores the ongoing complexities of navigating regulatory environments in Ukraine, which may impact future production and revenue generation. The reinstatement of the suspension may pose challenges for the company, delaying potential operational activities and affecting financial forecasts moving forward.
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Well, believe what you like, folks. |
The Company is investigating this situation, and consulting with its legal and other advisers, but the Company's legal analysis is that the restrictive measures imposed are directed at the named individuals (and not any other legal entities) and are applicable solely within Ukraine. |
Indeed. If anything it stops the shareholder from taking complete control.Perhaps, this will result finally in ENW becoming a normal listed Co. If there is such a thing, in Ukraine. |
Company says nothing to see here.. |
Yes, the court rulings AGAINST Enwell on matters on which they had previously ruled FOR Enwell were a red flag. Ukrainian courts are incredibly corrupt (I know this well!), but even a big bribe doesn't buy a direct reversal of a previous ruling like that. Only political influence can. |
P.S. I think it's possible that the UK listing may give enwell some protection. We're Ukraine's best buddies and seizing assets owned by British citizens wouldn't be a good look. |
I was sceptical of your views and wrote very bullish things about enwell, but I sold out at about 25p after the court ruling. Given they had previously won in court on the same issues, it seemed likely to me that it was politically influenced. It seems your warnings are coming to pass. |
I'll leave this here. All as predicted previously. |
Wave of Ukrainian nationalisations of assets perceived to be held by pro-Russian oligarchs announced today: |
TBTT, |
OK I got it you got some Russkie thing going on..however many folkes voted Yanko buy doesn't mean they wanted to be turned Russian like this. And now fight for freedom. |
FFS, he was given honorary citizenship by Yanukovich! |
TBTT why is he living in Kiev then (at least for the first part of war) ..and why does he help Zelensky and why was he given honoury citizenship?!Very much in the same bracket as his partner and Azovstal owner (check what that chap nhas said recently). They are on the Ukrainian side since the invasion.Even though they were previously voting for pointing toward Russian parties.Today's RNS shows that despite everything Ukraine is Ukraine!! ENW nothing to do with these prior shenanigans..it just bought a frozen asset that had done nothing for years and proved it up to help Ukraine!! The previous previous owner has some legal argument about the title. We know no what it is .The same thing happen for them in the VAS field and was never resolved in court. They just continued to produce last x years. |
Mstaub we just drilled and flow tested on one! Lol. |
I don't think may PIs here are asking the right questions about Enwell. |
Arkona holds a 100% interest in the Licence, which is located in the Poltava region in north-eastern |
Ukraine is literally a minefield for armies and investors! |
That is quite a blow. "Appellate Administrative Court made a ruling in favour of Boryslav, to uphold the decision of the First Instance Court, with the effect that the Licence is now ruled invalid" |
Think it will be a year till they connect up this field.NB this was a field they had just bought prior to invasion/COVID.Gas is there so hopefully CPR and increase reserves to come. Albeit that the two prospective zone failed somewhat.Maybe they should try fracking.. these weak zones.. |
I was worried about the results of this well as it took them too long to drill and esp. for testing. But all respect to their team as they delivered well with excellent results. Thats more than 20% increase in their current production just from this one well. Well done EnWell!! |
Unfortunately, Beeks, I am back in Zurich, Switzerland, I returned Jan 2020, after living 7 years in UK, Covid 19 and Post Brexit was enough for me to leave. Still do a little online retail currently preparing Christmas sales of a Aromatherapy Showerhead which also reduces water consumption by up to 30%. I am amazed and sad by the situation of the Ukraine; I know Ukraine will be successful but at what cost? Russia deserves nothing apart from being sent back into the pre-Cold war era and start queuing up again for their day-to-day necessities. I still hold some of these. |
A bit of good news nice well result |
How's the shower head business mstaub? Still on that island in the far east.? |
Err Farrugia, did you read the latest Quarterly Operations Update by any chance. No mention of any export stop. or the Interim report from 30/09/2022. |
Type | Ordinary Share |
Share ISIN | GB0031775819 |
Sector | Crude Petroleum & Natural Gs |
Bid Price | 18.00 |
Offer Price | 21.00 |
Open | 19.50 |
Shares Traded | 6,030 |
Last Trade | 08:00:30 |
Low - High | 18.00 - 19.50 |
Turnover | 62.19M |
Profit | 26.49M |
EPS - Basic | 0.0826 |
PE Ratio | 2.36 |
Market Cap | 62.52M |
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