28 Sep 2018 07:00
Andalas Energy and Power Plc - Rig contract signedAndalas Energy and Power Plc - Rig contract signed
PR Newswire
London, September 27
28 September 2018
Andalas Energy and Power Plc
(‘Andalas’ or the ‘Company’)
Rig contract signed with Ensco for a jack-up to drill the Colter well
Andalas Energy and Power Plc, the AIM listed upstream oil and gas and energy company (AIM: ADL), is pleased to announce an update on its Colter prospect, in which it recently announced an agreement to earn an 8% interest.
The operator, Corallian Energy Limited (“Corallian”), has signed a contract with UK based drilling contractor Ensco U.K. Ltd for the provision of the Ensco-72 jack-up drilling unit for its Colter well.
The timing for drilling the well is dependent upon the receipt of the necessary regulatory approvals and consents. Based upon the current estimates for receipt of these, Corallian is expecting to commence to drill the well during Q4 2018.
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: +62 21 2965 5800 |
| Roland Cornish/ James Biddle | Beaumont Cornish Limited (Nominated Adviser) | Tel: +44 20 7628 3396 |
| Colin Rowbury | Novum Securities Limited (Joint Broker) | Tel: +44 207 399 9427 |
| Christian Dennis | Optiva Securities Limited (Joint Broker) | Tel: +44 20 3411 1881 |
| Stefania Barbaglio | Cassiopeia Services Limited (Public Relations) | Stefania@cassiopeia-ltd.com |