Urals Energy Public Company Limited Operational update (1338V)
October 31 2017 - 8:59AM
UK Regulatory
TIDMUEN
RNS Number : 1338V
Urals Energy Public Company Limited
31 October 2017
Dissemination of a Regulatory Announcement that contain
inside information according to REGULATION (EU)
No 596/2014 (MAR).
31 October 2017
Urals Energy Public Company Limited
("Urals Energy", the "Company" or the "Group")
Operational update
Urals Energy PCL (AIM:UEN), the independent exploration and
production company with operations in Russia, is pleased to provide
the following operational updates:
Tanker loading
The loading of the second annual tanker shipment for export from
Arcticneft on Kolguyev Island has been successfully completed. The
tanker has been loaded with 23,951 gross tons of crude oil (an
equivalent of 189,213 barrels). The tanker has left Kolguyev Island
today.
Pre-export short term loan finance arrangement
As announced on 7 September 2017, the Company has previously
entered into a secured short-term loan agreement with Petraco Oil
Company Limited ("Petraco"). The re-payment date for the US$3.0
million received from Petraco under this agreement is linked to the
shipment of the tanker as described above. This indebtedness is
anticipated to be settled in the coming weeks.
South Dagi
The drilling rig and drilling team are at the South Dagi
drilling site and preparations for drilling are reaching an
advanced stage. Representatives of the rig's supplier will arrive
at Sakhalin Island in a week's time to complete the assembly and
checking of equipment and to perform staff training. Further
announcements will be made in due course.
- Ends -
For further information, please contact:
Urals Energy Public Company
Limited
Andrew Shrager, Chairman Tel: +7 495 795
Leonid Dyachenko, Chief 0300
Executive Officer
Sergey Uzornikov, Chief www.uralsenergy.com
Financial Officer
Allenby Capital Limited
Nominated Adviser and Broker
Nick Naylor / Alex Brearley Tel: +44 (0) 20
3328 5656
www.allenbycapital.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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