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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 |
RNS Number:6605R Urals Energy Public Company Limited 23 September 2005 Urals Energy Public Company Limited ("Urals Energy") Appointment of Non-Executive Director Viatcheslav Rovneiko, Chairman, and the Board of Urals Energy, a leading independent exploration and production company with operations in Sakhalin Island, Timan Pechora and the Republic of Udmurtia, Russia, which listed on AIM in August 2005, announce the appointment of Mr Charles Pitman as a Non-Executive Director. Mr Pitman, 63, a former lawyer and diplomat with the US Department of State, has extensive experience in the oil and gas industry, including 24 years at Amoco Corporation and BP plc. During this time he held a number of senior positions including managing operations in Egypt, Oman, Qatar and the former Soviet Union. Following Amoco's merger with BP he was Regional President, Caspian/Middle East/ Egypt and India. In 2000, Mr Pitman was elected to the Board of Apache Corporation. He is also owner of Shaker Mountain Energy Associates, LLC, a consulting firm. Viatcheslav Rovneiko, Chairman of Urals Energy commented: "We are delighted that Charles has agreed to become our Non-Executive Director. He has invaluable experience in the worldwide oil and gas industry and within the Company's areas of operations. We look forward to him sharing his extensive knowledge and experience to help develop Urals Energy into the leading independent oil company in Russia and the CIS. Charles Pitman, Non-Executive Director of Urals Energy commented: "Urals Energy has the key fundamentals in place to become the leading oil independent in Russia; a highly experienced management team, high quality proved and probable reserves, solid production and significant exploration upside. I look forward to working with the Board to achieve its ambitious plans for growth." -ends- Enquiries: Pelham PR James Henderson 020 7743 6673 Charles Vivian 020 7743 6672 Mr Pitman, holds or has held directorships in the five years preceding his appointment at Urals Energy, as follows: Current Directorships Previous Directorships Apache Corporation N/A There are no other matters to be disclosed in relation to Schedule 2 paragraph (g) of the AIM Rules. About the company: Urals Energy is an independent exploration and production (E&P) company with its principal assets and operations in Sakhalin Island, Timan Pechora (including areas in the Nenets Autonomous Okrug and Komi Republic) and the Republic of Udmurtia, Russia. The Company is focused on the integration of its five recently acquired subsidiaries and the exploitation of their assets. In addition, it is actively seeking to continue to grow and diversify its reserve and production portfolio through exploration activities and the acquisition of additional E&P companies or assets by taking advantage of the ongoing rationalisation of E&P assets in Russia. The Company's five E&P subsidiaries have Proved and Probable reserves of 89.7 million barrels of oil equivalent (MMBOE) and produced approximately 5,600 barrels of oil per day (BOPD) during the first six months of 2005. The Company's two largest subsidiaries by reserves and production, Petrosakh and Arcticneft, own and operate refining assets with a total refining capacity of 5,300 BOPD, which provide the Company with the ability to maximise the value of the oil produced by choosing between the sale of oil or of refined products depending on market conditions, tax considerations and other factors. This information is provided by RNS The company news service from the London Stock Exchange END BOAEAFNAAESSEAE
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