Urals Energy: Agrees Short Term $3m USD Loan with Petraco Oil Company
The Board of Urals Energy, the independent exploration and production company with operations in Russia, is pleased to provide the following operational update: Pre-export short term loan finance arrangement On 7 September 2017, the Company entered into a pre-export short term loan finance arrangement with Petraco Oil Company Limited (“Petraco”) …
Urals Energy: First Annual Tanker Sets Sail
Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to make the following announcements: Tanker loading The planned first annual tanker shipment for export from Arcticneft on Kolguyev Island has been successfully completed. The tanker has left Kolguyev Island with 30,439 tons of crude …
Urals Energy: Receives Short Term $6m Loan from Petraco Ahead of Anticipated Tanker Shipment
The Board of Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that it has entered into a pre-export short term loan finance arrangement with Petraco Oil Company Limited (“Petraco”) under which Petraco will advance the sum of US$6.0 million to the …
Ural Energy: Receives $6m Pre-Export Loan From Petraco, Secured Against Arcticneft
The Board of Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that it has entered into a pre-export short term loan finance arrangement with Petraco Oil Company Limited (“Petraco”) under which Petraco will advance the sum of US$6.0 million to the …
Urals Energy: Inga Srenger Steps Down to Focus on Petraco Oil Company Role
Urals Energy PCL, the independent exploration and production company with operations in Russia, announces that Mrs Inga Srenger has notified the Board of Urals Energy (the “Board“) of her decision to resign from the Board with immediate effect. Mrs Srenger has informed the Board that her decision is due to …
Urals Energy: Receives Tanker Cash, Pays Petraco and is Now Debt Free
The Board of Urals Energy, the independent exploration and production company with operations in Russia, is pleased to announce that it has received the payment from Petraco Oil Company Limited following its recent tanker shipment. Following receipt of the Tanker Payment, Urals Energy has also repaid $3.9 million plus interest …
Urals Energy: Falling Rouble and Oil Prices Dampen Netback from Latest Tanker Shipment
Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that the planned annual tanker shipment for export from Arcticneft on Kolguyev Island has been completed successfully. The tanker left Kolguyev Island on 23 October 2014 with 26,093 tons of crude (an equivalent …
Urals Energy: 1H Results – Working to Halt Production Decline
Urals Energy, the independent exploration and production company with operations in Russia, is pleased to announce its half-year results for the six months ended 30 June 2014. Operational Highlights Total production at Arcticneft reached 118,958 barrels (H1-2013: 125,651 barrels). Total production at Petrosakh reached 210,435 barrels (H1-2013: 240,533 barrels). Current …
Urals Energy: Repays Remaining Loan to Petraco Oil Company
Urals Energy, the independent exploration and production company with operations in Russia, is pleased to announce that the Company has settled its remaining indebtedness to Petraco Oil Company (“Petraco”) totalling US$8.6 million. This settlement consists of US$3.0 million of the remaining interest payment outstanding in accordance with the restructuring agreement …
Urals Energy: Tanker Loaded as Company Aims to be Debt Free
Urals Energy, the independent exploration and production company with operations in Russia, is pleased to announce that the planned annual tanker shipment for export from Articneft on Kolguyev Island has been completed successfully. The tanker left Kolguyev Island on Saturday 9 November 2013 with 25,008 tons of crude (an equivalent …