Urals Energy Public Company Limited Petrosak update (9256B)

TIDMUEN

RNS Number : 9256B

Urals Energy Public Company Limited

12 January 2015

 
   12 January 2015

Urals Energy PCL

("Urals Energy" or the "Company")

Update in relation to Petrosak

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that on 9 January 2015 a fire occurred at its Petrosak refinery caused by an accident which occurred during recent adverse weather conditions.

No one was injured during the fire and the oil field operations were not affected. However, the refinery is currently closed pending repairs to control equipment. The Management of Petrosak is urgently seeking to source replacements for the damaged equipment, which was manufactured in the US, and to assess the time required to bring the plant back into operation. This incident will not be covered by the Company's insurance policies.

Further announcements will be made at the appropriate time.

- Ends -

For further information, please contact:

 
 Urals Energy Public Company Limited 
 Andrew Shrager, Chairman                    Tel: +7 495 795 0300 
 Leonid Dyachenko, Interim Chief Executive    www.uralsenergy.com 
  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 / Quincy Allan     Tel: +44 (0) 20 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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