Urals Energy Public Company Limited Operations update (7078H)
18 Marzo 2015 - 8:01AM
UK Regulatory
TIDMUEN
RNS Number : 7078H
Urals Energy Public Company Limited
18 March 2015
Press Release 18 March 2015
Urals Energy PCL
("Urals Energy" or the "Company")
Operations update
Urals Energy PCL (AIM:UEN), the independent exploration and
production company with operations in Russia,is pleased to provide
an operations update:
ArticNeft
The workover programme continues with well #546 showing a 30%
increase in flow rate to 79 bbl/d. Wells #547 and #548 have been
closed down temporarily to allow for changes to the pumps so as to
seek to optimise the production rates.
Petrosakh refinery
As announced on 30 January 2015, the refinery is being operated
on a manual basis until the installation of new control equipment
is completed which is anticipated to be completed in May 2015. In
the meantime, the refinery is operating at full capacity and the
product mix achieved has been favorable with an increase in diesel
(30% instead of 20%) at the expense of fuel oil (30% as compared
with 38% previously), while kerosine and gasoline remain broadly
unchanged.
Petrosakh operations
The Company has experienced mechanical problems in drilling well
#112, which have led to damage to the column casing. It has been
decided therefore to drill a side track from a depth of 815 meters.
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 www.uralsenergy.com
Chief Executive 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 / Tel: +44 (0) 20
Quincy Allan 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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