2 Oct 2015 11:45
Press Release | 2 October 2015 |
Urals Energy PCL
(''Urals Energy'' or the ''Company'')
Update on Petraco Loan and Petrosakh Well 54
Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to provide the following updates.
Petraco Loan
Further to the Company's announcements on 29 May 2015 and 1 September 2015, the Company confirms that the loan provided by Petraco Oil Company Limited including accrued interest has now been settled in full.
Petrosakh Well 54
Further to the update on 25 September 2015, the Company announces that production testing at Well 54 at Petrosakh has commenced, which has demonstrated an initial flow rate. Additional equipment is to be installed at the well over the coming weeks and the Company expects to be in a position to provide a more definitive indication of the well's expected production rate in due course.
- Ends -
For further information, please contact:
Urals Energy Public Company Limited | |
Andrew Shrager, Chairman | Tel: +7 495 795 0300 |
Leonid Dyachenko, Interim Chief Executive Officer | www.uralsenergy.com |
Allenby Capital Limited Nominated Adviser and Broker | |
Nick Naylor | Tel: +44 (0) 20 3328 5656 |
Alex Brearley | www.allenbycapital.com |
Media enquiries: Abchurch | |
Quincy Allan | Tel: +44 (0) 20 7398 7710 |
uralsenergy@abchurch-group.com | www.abchurch-group.com |