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Enwell Energy PLC - oil & gas exploration and production company - Obtains extension to Svyrydivske production licence in north-eastern Ukraine, covering an area of around 127 kilometres. Licence originally granted in 2004 for 20 year duration, extended December 24 for a 20 year period with a further renewal possible at the end of this period. Enwell operates Svyrydivske and holds a 100% working interest in the licence, adjacent to the Mekhediviska-Golotvshinska production licence. The company produces gas, condensate, and liquefied petroleum gas.
Chief Executive Sergii Glazunov: "We are delighted to have secured the extension of our[Svyrydivske] production licence, which is consistent with our strategic planning and enables us to continue the development of this field."
Current stock price: 21.50 pence
Year-to-date change: up 2.4%
By Anna Farley; annafarley@alliancenews.com
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