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urals energy public co ltd (UEN) Snapshot

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52 Week High
10/3/14 - 13.25 GBp
52 Week Low
02/23/15 - 3.00 GBp
Market Cap
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0.0085 GBp
Shares Outstanding
Dividend Yield
Current Stock Chart for URALS ENERGY PUBLIC CO LTD (UEN)

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urals energy public co ltd (UEN) Details

Urals Energy Public Company Limited, together with its subsidiaries, explores, develops, extracts, and sells oil and gas in the Russian Federation. The company holds interest in the Okruzhnoye and Peschanozerskoye oil and gas fields located in the Timan Pechora and on Sakhalin Island. It is also involved in the processing of crude oil for distribution in the Russian and international markets. The company was incorporated in 2003 and is headquartered in Nicosia, Cyprus.

Founded in 2003

urals energy public co ltd (UEN) Top Compensated Officers

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Executives, Board Directors

urals energy public co ltd (UEN) Key Developments

Urals Energy Public Company Limited Provides Update on Operations at Articneft and Petrosakh; Provides Update on the Litigation

Urals Energy Public Company Limited announced update on its operations at ArticNeft and Petrosakh. Perforation of four wells of its six well work over programme at ArticNeft has been successfully completed. Calibration of pumps to optimise the production rate is in progress. On well # 112, cementing of the casing is being undertaken, prior to drilling the pay zone at Petrosakh. At Petrosakh refinery, the damage to the control equipment of the column has been fully assessed and it is expected that replacements with equipment provided by Siemens will be completed in approximately two months. The refinery is expected to be brought into operation in a manual regime within the next two weeks. The company also reported that it won its case against the appeal made by KNGF in the matter of its outstanding loan to KNGF, equivalent to approximately $500,000 and expects the court in the first instance to issue the order for its collection in mid-February. As announced on 13 January 2015, all litigation in the matter of the ADRA and the Arbitration Award has been terminated.

Urals Energy Public Company Limited Provides Operational Update

Urals Energy Public Company Limited announced drilling update on ArticNeft and Petrosakh. 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 per 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 per day up to an average of 700 to 720 bbls per 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. 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 per day and the Company is targeting production at an average rate of 1,325 to 1,355 bbls per day by the end of the year.

Inga Srenger Resigns from the Urals Energy Public Company Limited Board

Urals Energy PCL announced that Mrs. Inga Srenger has notified the Board of Urals Energy of her decision to resign from the Board with immediate effect. Her decision is due to the need for her to focus on running Petraco Oil Company LLP, of which she is the Chief Executive Officer.


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