RNS Number : 8731T
Urals Energy Public Company Limited
23 July 2015
Press Release 23 July 2015
Urals Energy PCL
(''Urals Energy'' or the ''Company'')
Result of AGM and Trading Update
Urals Energy P C L (A I M:UEN ), the independent explora on and produc on company with opera ons in Russia, announces that all of the resolu ons put to shareholders at the A nnual General Mee ng held in Cyprus earlier today were duly passed.
The Company is pleased to announce the following update on its operations at Arcticneft and Petrosakh.
Arcticneft
Total produc on for the six months ended 30 J une 2015 reached 124,697 barrels which is 4.8% higher than for the same period of 2014. A s previously announced the Company's workover programme at A rc cne8 has been successful and is proceeding in accordance with the Board's schedule. Current average daily produc on at A rc cne8 is 725 B O P D (H1 2014: 690 B O P D). The Company expects to make its annual shipment from A rc cne8 in August 2015. The current accumulated volume of crude in stock is approximately 24,100 tons.
Petrosakh
I n accordance with the drilling plan announced in the F inal results on 19 J une, the Company has commenced the drilling of Well #54 and, as of now, drilling is completed to a depth of 300 meters. The well tes ng is expected to commence before the end of September 2015.
The Company recently finalised replacement and tes ng of the electrical control equipment at Petrosakh and the refinery is now back in electronic operation (having previously been operated manually).
- Ends - For further information, please contact:
Urals Energy Public Company Limited
Andrew Shrager, Chairman Tel: +7 495 795 0300
Leonid Dyachenko, Interim Chief Executive Officer www.uralsenergy.com
Allenby Capital Limited
Nominated Adviser and Broker
Nick Naylor Tel: +44 (0) 20 3328 5656
Alex Price www.allenbycapital.com
Media enquiries: Abchurch
Quincy Allan/ Viktoria Langley Tel: +44 (0) 20 7398 7710 [email protected]www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
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