Urals Energy (WKN: A0F5HS)

Andrew Shrager, Chairman, commented:
“We are pleased to be able to announce receipt of the Tanker Payment and the repayment of the short-term loan from Petraco, the result of which is that Urals Energy is now debt free. We look forward to updating shareholders on progress in securing an agreement to settle litigation with Mr V Rovneiko and our operational plans for 2015 over the coming weeks.”

http://www.uralsenergy.com/newsdetail.asp?news_ID=6470

Urals Energy PCL (''Urals Energy'' or the ''Company'')
Rovneiko Settlement

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, is pleased to announce that the Company has now signed a comprehensive settlement agreement with Mr V Rovneiko, a former Director of the Company, on all outstanding litigation and pending or threatened disputes, following the discussions announced on 18 November 2013. All parties to the dispute are pleased to bring it, and all other related or unrelated allegations, to a full and final resolution.

The ongoing litigation had arisen over two principal matters, namely the ADRA and the London Arbitration Award:

The ADRA: As part of the overall settlement, Mr Rovneiko has agreed to withdraw his claim for US$41 million arising out of the disputed ADRA, a claim that the Company has opposed vigorously over the last year;

The London Arbitration Award: As part of the overall settlement, the Company has agreed to terminate its recognition and collection efforts on the Arbitration Award, waive its rights and release Mr Rovneiko from any obligation thereunder.

The accounts of the Company in previous years did not make any provision for the ADRA claim whereas the loan which was the subject of the Arbitration Award had been fully written off in the accounts of the Company in previous periods. As a result, no current write off, provision or adjustment in the Company’s accounts is required by the above settlements.

StockMarketWire.com - Urals Energy PCL has won its case against the appeal made by KNGF in the matter of its outstanding loan to KNGF, equivalent to about $0.5m and expects the court in the first instance to issue the order for its collection in mid-February.

"As announced on 13 January 2015, all litigation in the matter of the ADRA and the Arbitration Award has been terminated," it said.

Urals also issue the following updates:

ArticNeft: Perforation of four wells of its six well work over programme has been successfully completed. Calibration of pumps to optimise the production rate is in progress.

Petrosakh: On well # 112, cementing of the casing is being undertaken, prior to drilling the pay zone.

Petrosakh refinery: The damage to the control equipment of the column has been fully assessed and it is expected that replacements with equipment provided by Siemens will be completed in approximately two months. However, the refinery is expected to be brought into operation in a manual regime within the next two weeks.
- See more at: http://www.stockmarketwire.com/article/4968121/...thash.cuvTGLyE.dpuf

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces an update on its litigation with Komineftegeofizika (“KNGF”).

On 30 January 2015, the Company announced that it had won its case against the appeal made by KNGF in the matter of its outstanding loan to KNGF, equivalent to approximately US$500,000. On 10 March 2015 Urals Energy announced that KNGF had filed a second appeal with the cassation court and submitted a motion to stop enforcement of the debt.

The Company is pleased to announce that a cassation hearing took place today on KNGF’s second appeal at Commercial Court of Moscow District (the “Court”). The Court agreed with the decisions taken earlier by the court of first instance and the appeal court and refused to satisfy the KNGF’s second appeal. The Court also revoked the suspension of enforcement procedures by Urals Energy that were imposed until the Court’s decision had been issued.

Commenting Andrew Shrager, Chairman of the Company, said: “We are delighted that the Moscow Court has rejected KNGF’s second appeal and removed the suspension on the enforcement procedures. We will now consider the best way to enforce the Court’s decision”.

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ich halte die schon seit Jahren, habe jetzt fast keine Hoffnung meht(((  

Urals Energy ist schuldenfrei und steht besser da als in den letzten 5 Jahren.
Aber der Aktienpreis wird hier anscheinend durch andere Faktoren bestimmt.

Welche Faktoren beeinflussen es? Jemand druckt den Preis runter!  

bei mir zeigts im bid 0,02 und ask 0,07. flatex/ Frankfurt. Kleiner Unterschied von nur

350%.

 

Director dealing

Urals Energy PCL (AIM:UEN), the independent exploration and production company with operations in Russia, announces that the Company has today been notified that Andrew Shrager, Non-Executive Chairman, has today acquired 500,000 ordinary shares of US$0.0063 each in the Company ("Ordinary Shares"), at a price of 2.7 pence per Ordinary Share.  This acquisition of Ordinary Shares was made via Hillsilk Limited, a company that is controlled by Andrew Shrager.

Following this purchase Andrew Shrager has a total beneficial interest in 1,590,500 Ordinary Shares in Urals Energy, representing 0.63% of the Company's issued ordinary share capital.

http://www.uralsenergy.com/content/news/archive/2016/281216.asp

28 December 2016

Urals Energy PCL ("Urals Energy" or the "Company")
Loan financing update

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

The Board of Urals Energy PCL (AIM: UEN), the independent exploration and production company with operations in Russia, announces that further to the Company's announcement on 23 August 2016, the loan provided by Kamchatcomagroprombank ("KKAPB") for the acquisition of Arctic Oil Company Limited has now been repaid in full.

Following the repayment of the abovementioned loan, the Company's subsidiary JSC Arcticneft entered into a new short-term loan finance arrangement with KKAPB. KKAPB is a bank in which Mr Shvets, the shareholder of Adler SA, the Company's largest shareholder, is a board member and shareholder with 15.4% of KKAPB's issued share capital.

The principal terms of the new KKAPB loan are as follows:

Principal: Russian Rouble 40 million (approximately US$660,000)

Term: 31 August 2017

Interest margin over Central Bank Rate: 5%, equivalent to a total of 15% on an annualised basis

Security: part of the crude oil produced by Arcticneft

The proceeds of this new KKAPB loan will be used by the Group for the general working capital financing of Arcticneft.

Based on the data available from the Central bank of the Russian Federation, the Board believes that the terms of the new KKAPB loan compare favourably with potential terms from other Russian banks, as credit remains generally difficult to obtain in Russia.

Additionally, the Group is approaching the full repayment of the final tranche of one of its loan facilities with OJSC Sberbank of Russia ("Sberbank"), which was orignally put in place in 2015 (as announced on 30 June 2015). Following the full repayment of the 2015 Sberbank facility, the Group will have a single revolving finance arrangement in place with Sberbank (as originally announced on 20 September 2016). Further announcements will be made as appropriate.