6th Feb 2017 13:39
LONDON (Alliance News) - Urals Energy Public Co Ltd on Monday said it does not know of any concrete reason for its share price movement.
On Monday, Urals shares had been up 15% to 7.18 pence on Monday, a new 52-week high, but retraced and were down 1.3% to 6.16p following the company's announcement.
Urals said it continues to progress its operational and drilling programmes in Russia but said no new material developments have occurred.
The firm did note, however, the "general strength" in oil prices in 2017 and believes there has been some improvement in market sentiment towards companies operating in Russia.
By Sam Unsted; [email protected]; @SamUAtAlliance
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