TIDMUEN

RNS Number : 6797E

Urals Energy Public Company Limited

05 November 2015

 
 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."

- Ends -

For further information, please contact:

 
 Urals Energy Public Company 
  Limited 
 Andrew Shrager, Chairman          Tel: +7 495 795 
                                              0300 
 Leonid Dyachenko, Interim     www.uralsenergy.com 
  Chief Executive Officer 
 
 
 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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