Urals Energy Public Company Limited Update on Petraco Loan and Petrosakh Well 54 (0711B)

TIDMUEN

RNS Number : 0711B

Urals Energy Public Company Limited

02 October 2015

 
 Press Release   2 October 2015

Urals Energy PCL

("Urals Energy" or the "Company")

Update on Petraco Loan and Petrosakh Well 54

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to provide the following updates.

Petraco Loan

Further to the Company's announcements on 29 May 2015 and 1 September 2015, the Company confirms that the loan provided by Petraco Oil Company Limited including accrued interest has now been settled in full.

Petrosakh Well 54

Further to the update on 25 September 2015, the Company announces that production testing at Well 54 at Petrosakh has commenced, which has demonstrated an initial flow rate. Additional equipment is to be installed at the well over the coming weeks and the Company expects to be in a position to provide a more definitive indication of the well's expected production rate in due course.

- 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 Brearley                   www.allenbycapital.com 
 
 
 Media enquiries: 
  Abchurch 
 Quincy Allan                            Tel: +44 (0) 20 
                                               7398 7710 
 uralsenergy@abchurch-group.com   www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCMTBMTMBIMBBA

(END) Dow Jones Newswires

October 02, 2015 06:45 ET (10:45 GMT)

Grafico Azioni Urals Energy (LSE:UEN)
Storico
Da Giu 2024 a Lug 2024