Urals Energy Public Company Limited Operational Update (1361C)
14 Janvier 2015 - 11:35AM
UK Regulatory
TIDMUEN
RNS Number : 1361C
Urals Energy Public Company Limited
14 January 2015
Press Release 14 January 2015
Urals Energy PCL
("Urals Energy" or the "Company")
Operational update
Urals Energy PCL (AIM:UEN), the independent exploration and
production company with operations in Russia, is pleased to
announce a drilling update and further information on the recent
accident at the Petrosakh refinery.
ArticNeft
A first workover of well #546 at ArticNeft has been successfully
completed. After being out of operation for 10 years, this well is
now producing 52.15 bbls/day. The workover, the target of which was
to perforate new layers, is the first of six well workover
programmes at ArticNeft where additional perforation is planned.
The aim of these programmes is to bring production at ArticNeft
from the current average of 661.1 bbls/day up to an average of 700
to 720 bbls/day by the end of the year. A more aggressive programme
to develop fracking capabilities at ArticNeft is being evaluated by
the Company's management but, as a result of the current oil price,
this is unlikely to be started in 2015.
Petrosakh
Well #112 at Petrosakh is in the final stage of drilling, with
270 metres remaining to the target depth. Results of this drilling
are expected in a few weeks. The plan for 2015 at Petrosakh is to
drill two more wells and carry out workovers of existing wells.
Current production at Petrosakh is 1,155.6 bbls/day and the Company
is targeting production at an average rate of 1,325 to 1,355
bbls/day by the end of the year.
Petrosakh refinery
Further investigation shows that mainly electrical control
equipment was damaged by the fire on 9 January 2015. The Company is
hopeful that it should be able to source the replacement parts
locally, although the time required to restart operations remains
currently uncertain. In the meantime, adequate storage facilities
at the refinery mean that field operations should not be affected
if there is a significant delay in restarting the refinery.
- 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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