Tanker shipment update

20 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).

The Board of Urals Energy (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to provide the following operational update.

Tanker shipment update

The price per barrel for the tanker shipment announced on 16 July 2018 has now been confirmed as US$76.46 per barrel.

After taking into account all duties and taxes, transport costs, the net proceeds from the shipment are expected to be approximately US$8.4 million, representing a net back of US$53.44 per barrel. This represents an improvement of approximately US$16.46 per barrel, when compared with the net average receipts from the Company's two tanker export shipments in 2017.

The Board anticipates that the second 2018 tanker loading for Articneft will be in November 2018, with a target of up to 20,000 tons of special light crude oil (158,000 barrels).

 

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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