2140c6baa13210d813c1ae.pdf
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.
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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 Brearley www.allenbycapital.com
Media enquiries: Abchurch
Quincy Allan 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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