Andalas Energy And Power PLC Operations Update (9271N)
September 27 2019 - 2:15AM
UK Regulatory
TIDMADL
RNS Number : 9271N
Andalas Energy And Power PLC
27 September 2019
27 September 2019
Andalas Energy and Power Plc
('Andalas' or the 'Company')
Operations Update
Andalas Energy and Power Plc, the AIM traded upstream oil and
gas company (AIM: ADL), is pleased to announce an operations update
on the Betun Selo KSO, in which it has a production interest
further to the agreement announced on 21 June 2019. The Company is
currently undertaking a 4-well workover programme on the
project.
-- Workover of the BTN 03 well has commenced. All permits have
been received from Pertamina and SKKMIGAS.
-- Commissioning of the new water injection pump is ongoing. A
further announcement will be made once this is in operation and
production across the 4 wells is at a stabilised level.
Andalas Energy, CEO, Simon Gorringe said "We are pleased with
the progresss at Betun Selo especially now that we have secured all
of the permits for BTN 03 and have commenced the workover. We look
forward to combining the production from BTN 03 with the other
3-wells plus the yet to be commissioned water injection pump to
enable us to reach and, I hope,exceed our target production rate of
150 bopd (gross)."
Qualified Person's Statement
The technical information contained in this announcement has
been reviewed and approved by Mr. Gregor Mawhinney. Mr. Mawhinney
is consulting for Andalas, acting in the role of Vice President
Operations. He has 40 years' experience in the oil and gas
industry, is a member of the Society of Petroleum Engineers (SPE)
and a member of the Professional Engineers and Geoscientists of
Newfoundland and Labrador (PEGNL).
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the
publication of this announcement via a Regulatory Information
Service ('RIS'), this inside information is now considered to be in
the public domain.
For further information, please contact:
Simon Gorringe Andalas Energy and Power Plc Tel: +44 1624
681250
Graham Smith FIM Capital Limited Tel: +44 1624
681250
Roland Cornish/ James Biddle Beaumont Cornish Limited Tel: +44 20 7628
(Nominated Adviser) 3396
Colin Rowbury Novum Securities Limited Tel: +44 207 399
(Joint Broker) 9427
Christian Dennis Optiva Securities Limited Tel: +44 20 3411
(Joint Broker) 1881
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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