UEN Urals EN.

TIDMUEN

RNS Number : 0835H

Urals Energy Public Company Limited

10 March 2015

 
 Press Release   10 March 2015 
 

Urals Energy PCL

("Urals Energy" or the "Company")

Litigation update

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces an update on its litigation with KNGF.

As announced on 30 January 2015, the Company has won its case against the appeal made by KNGF in the matter of its outstanding loan to KNGF, equivalent to approximately US$500,000. Urals had expected the court in the first instance to issue the order for its collection. However, Urals Energy understands that KNGF has filed a second appeal with the cassation court and submitted a motion to stop enforcement of the debt. Further announcements will be made at the appropriate time.

- Ends -

For further information, please contact:

 
 Urals Energy Public Company Limited 
 Andrew Shrager, Chairman                    Tel: +7 495 795 0300 
 Leonid Dyachenko, Interim Chief Executive    www.uralsenergy.com 
  Officer 
 
 
 Allenby Capital Limited 
  Nominated Adviser and Broker 
 Nick Naylor                       Tel: +44 (0) 20 3328 
                                                   5656 
 Alex Price                      www.allenbycapital.com 
 

Media enquiries:

 
 Abchurch 
 Henry Harrison-Topham / Quincy Allan     Tel: +44 (0) 20 7398 
                                                          7710 
 quincy.allan@abchurch-group.com        www.abchurch-group.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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