Urals Energy Public Company Limited Result of AGM and Trading Update (8731T)
July 23 2015 - 3:30AM
UK Regulatory
TIDMUEN
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 PCL (AIM:UEN), the independent exploration and
production company with operations in Russia, announces that all of
the resolutions put to shareholders at the Annual General Meeting
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 production for the six months ended 30 June 2015 reached
124,697 barrels which is 4.8% higher than for the same period of
2014. As previously announced the Company's workover programme at
Arcticneft has been successful and is proceeding in accordance with
the Board's schedule. Current average daily production at
Arcticneft is 725 BOPD (H1 2014: 690 BOPD). The Company expects to
make its annual shipment from Arcticneft in August 2015. The
current accumulated volume of crude in stock is approximately
24,100 tons.
Petrosakh
In accordance with the drilling plan announced in the Final
results on 19 June, the Company has commenced the drilling of Well
#54 and, as of now, drilling is completed to a depth of 300 meters.
The well testing is expected to commence before the end of
September 2015.
The Company recently finalised replacement and testing 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 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
Quincy Allan/ Viktoria Langley 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
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