5 Nov 2015 10:30
Press Release | 5 November 2015 |
Urals Energy PCL
(''Urals Energy'' or the ''Company'')
Update on Well #109
Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce that it has spudded Well #109 as planned.
Well #109 is located on the Petrosakh license. Well #109 is expected to be completed in Q1 2016, with the expected depth of the well being approximately 1,800 metres. Further announcements regarding Well #109's expected production rate will be made in due course.
Andrew Shrager, Chairman of Urals Energy commented:
"Following the success at Well #54 last month, we are pleased to be progressing the current drilling programme at Petrosakh as planned. Well #109 is part of a wider drilling programme aimed at optimising production from Petrosakh license, with a view to developing Petrosakh's existing reserves."
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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 / Alex Brearley | Tel: +44 (0) 20 3328 5656 |
| www.allenbycapital.com |
Media enquiries:
Abchurch |
|
Philip Denis / Quincy Allan | Tel: +44 (0) 20 7398 7710 |
quincy.allan@abchurch-group.com | www.abchurch-group.com |