Tanker shipment update

16 July 2018

Urals Energy PCL ("Urals Energy" or the "Company")
Tanker shipment update

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce that the tanker shipment for export from the Company's Arcticneft operations on Kolguyev Island has been successfully completed. On 14 July 2018, the tanker left Murmansk, where the shipment's gross volume has been confirmed as being 20,097 tons of special light crude oil (an equivalent of approximately 158,191 barrels).

The Company will, in due course, confirm the gross price per barrel for this tanker shipment. This pricing will based on the arithmetic average of the quotations for Brent DTD published in "Platts Crude Oil Marketwire" for the five trading days after the date of the bill of lading. The date of the bill of lading is 12 July 2018. 

The Company will also, in due course, confirm the net proceeds from this shipment, after taking into account all duties and taxes, transport costs, demurrage and similar charges.

Further announcements will be made as appropriate.

 

For further information, please contact:

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

Allenby Capital Limited, Nominated Adviser and Broker
Nick Naylor / Alex Brearley
Tel: +44 (0) 20 3328 5656, www.allenbycapital.com

 

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