Andalas Energy And Power PLC Operations Update (2284S)
05 Noviembre 2019 - 1:00AM
UK Regulatory
TIDMADL
RNS Number : 2284S
Andalas Energy And Power PLC
05 November 2019
5 November 2019
Andalas Energy and Power Plc
('Andalas' or the 'Company')
Operations Update
Andalas Energy and Power Plc, the AIM traded upstream oil and
gas company (AIM: ADL), is pleased to announce an operations update
on the Betun Selo KSO, in which it has a production interest
further to the agreement announced on 21 June 2019. The Company is
currently undertaking a 4-well workover programme on the
project.
-- Workover of the BTN 03 well was completed at the end of
October and the well has now been put into production; initial flow
rates remain inconsistent and therefore the Company will provide an
update once these are at stablisied rates
-- The other 3 wells are producing at an average gross production rate for October of:
o BTN01 35.7 bopd
o BTN04 37.4 bopd
o BTN14 24.7 bopd
-- The field delivered at an average gross production rate for
October of 99.3 bopd with a maximum from the 3 wells of 119.3
bopd
The focus for the coming month will be improving field uptime by
undertaking a field equipment maintenance programme. A further
announcement will be made once we have achieved stable production
from BTN03 and the other 3-wells.
Andalas Energy, CEO, Simon Gorringe said "We are pleased with
the progresss at Betun Selo especially now that we have the
production contribution from BTN03 supporting production from the
other 3-wells. We look forward to seeing results from the
maintenance initative to improve uptime so that we exceed our
target production rate of 150 bopd (gross)."
Qualified Person's Statement
The technical information contained in this announcement has
been reviewed and approved by Mr. Gregor Mawhinney. Mr. Mawhinney
is consulting for Andalas, acting in the role of Vice President
Operations. He has 40 years' experience in the oil and gas
industry, is a member of the Society of Petroleum Engineers (SPE)
and a member of the Professional Engineers and Geoscientists of
Newfoundland and Labrador (PEGNL).
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR). Upon the
publication of this announcement via a Regulatory Information
Service ('RIS'), this inside information is now considered to be in
the public domain.
For further information, please contact:
Simon Gorringe Andalas Energy and Power Plc Tel: +44 1624
681250
Graham Smith FIM Capital Limited Tel: +44 1624
681250
Roland Cornish/ James Biddle Beaumont Cornish Limited Tel: +44 20 7628
(Nominated Adviser) 3396
Colin Rowbury Novum Securities Limited Tel: +44 207 399
(Joint Broker) 9427
Christian Dennis Optiva Securities Limited Tel: +44 20 3411
(Joint Broker) 1881
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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