Urals Energy Public Company Limited Drilling Update (3945K)

TIDMUEN

RNS Number : 3945K

Urals Energy Public Company Limited

24 June 2014

 
 Press Release   24 June 2014

Urals Energy PCL

("Urals Energy" or the "Company")

Drilling update

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces a drilling update in relation to well #112.

As announced on 14 January 2014, drilling on well #112 had reached a depth of slightly over 1,000 metres. Drilling subsequently continued but has been halted following a number of problems encountered in the drilling process and unacceptable results. Urals is currently evaluating its options in relation to well #112 and further announcements will be made at the appropriate time.

- Ends -

For further information, please contact:

 
 Urals Energy Public Company 
  Limited 
 Alexei Maximov, Chief Executive       Tel: +7 495 795 
  Officer                                         0300 
 Sergey Uzornikov, Chief           www.uralsenergy.com 
  Financial Officer 
 
 
 Allenby Capital Limited 
  Nominated Adviser and Broker 
 Nick Naylor                            Tel: +44 (0) 20 
                                              3328 5656 
 Alex Price                      www.allenbycapital.com

Media enquiries:

 
 Abchurch 
 Henry Harrison-Topham /                  Tel: +44 (0) 20 
  Quincy Allan                                  7398 7710 
 quincy.allan@abchurch-group.com   www.abchurch-group.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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