IN BRIEF: Enwell Energy says environment in Ukraine very challenging
Enwell Energy PLC - Ukraine-focused oil and gas exploration and production company - Updates on its operational activities in Ukraine in respect of its Mekhediviska-Golotvshinska, Svyrydivske and Vasyschevskoye gas and condensate fields and Svystunivsko-Chervonolutskyi exploration licence. The MEX-GOL, SV and VAS production licences remain suspended and there was no production from those licences in the second quarter, nor at present. In general, explains that the operating environment in Ukraine remains very challenging and the company continues to be cautious and vigilant with its ongoing activities. Cash resources at June 30 are around USD89.7 million. In addition, Enwell says legal proceedings continue concerning the regulatory actions of the Ukrainian authorities. Read More