Enwell Energy PLC, an AIM-quoted oil and gas exploration and production group, has received positive news from the State Geologic and Subsoil Survey of Ukraine (SGSS). The SGSS has issued orders to cancel the suspensions of the Company's Vasyschevskoye ("VAS") production licence and Svystunivsko-Chervonolutskyi ("SC") exploration licence in Ukraine. This comes after the SGSS had previously suspended these licenses for a period of 5 years, effective from 4 May 2023, leading to the cessation of operational activities at those sites.
However, on 26 June 2024, the SGSS issued further orders to renew the validity of the VAS production licence and SC exploration licence, effectively canceling the suspensions. This means that Enwell Energy PLC can now resume operational activities at these licenses. The company is pleased with this development, as it allows them to continue their exploration and production activities in Ukraine.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, which forms part of United Kingdom domestic law. For further information, Enwell Energy PLC can be contacted at the provided telephone number. The company's key personnel include Chuck Valceschini, Chairman; Oleksiy Zayets, Interim Chief Executive Officer; and Bruce Burrows, Finance Director. Additionally, the company's financial advisors and corporate brokers can be reached for further inquiries.