REG - Enwell Energy PLC - Lifting of Suspensions of Licences

Enwell EnergyAnnouncement

26/11/2024 12:00

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RNS Number : 7188N  Enwell Energy PLC  26 November 2024

26 November 2024

 

Enwell Energy plc
("Enwell" or the "Company")

 

Lifting of Suspensions of MEX-GOL, SV and VAS Licences

 

Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas exploration and
production group, advises that yesterday it obtained interim rulings from the
Poltava District Administrative Court in Ukraine to lift the respective
suspensions of the Company's Mekhediviska-Golotvshinska ("MEX-GOL"),
Svyrydivske ("SV") and Vasyschevskoye ("VAS") production licences in Ukraine.

 

As announced on 18 November 2024, the State Geologic and Subsoil Survey of
Ukraine (the "SGSS") issued suspension orders dated 15 November 2024 in
respect of each of the MEX-GOL, SV and VAS production licences for a period of
10 years effective from 8 October 2024. As a result, the Company ceased all
field operations on each of these licences, including shutting down production
operations.

 

Shortly after receiving the suspension orders, the Company issued legal
proceedings in the Poltava District Administrative Court in Ukraine to
challenge such orders, and within such proceedings, the Company sought interim
rulings to have such orders lifted pending determination of the substantive
issues in the legal proceedings. Yesterday, the Court made interim rulings to
lift the respective suspension orders of the MEX-GOL, SV and VAS production
licences pending the determination of the legal proceedings.

 

Following such interim ruling, the Company has resumed field operations on
each of these licences, including resuming production operations.

 

For further information, please contact:

 

 Enwell Energy plc                              Tel: 020 3427 3550
 Chuck Valceschini, Chairman
 Oleksiy Zayets, Interim CEO
 Bruce Burrows, Finance Director

 Strand Hanson Limited                          Tel: 020 7409 3494
 Rory Murphy / Matthew Chandler

 Zeus Capital Limited                           Tel: 020 7614 5900
 Alexandra Campbell-Harris (Corporate Finance)
 Simon Johnson (Corporate Broking)

 Citigate Dewe Rogerson                         Tel: 020 7638 9571
 Ellen Wilton / Alex Winch

 

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014, which forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of
the Market Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

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