28 September 2018
Andalas Energy and
Power Plc
(‘Andalas’ or the
‘Company’)
Rig contract
signed with Ensco for a jack-up to drill the Colter well
Andalas Energy and Power Plc, the AIM listed upstream oil and
gas and energy company (AIM: ADL), is pleased to announce an update
on its Colter prospect, in which it recently announced an agreement
to earn an 8% interest.
The operator, Corallian Energy Limited (“Corallian”), has signed
a contract with UK based drilling contractor Ensco U.K. Ltd for the
provision of the Ensco-72 jack-up drilling unit for its Colter
well.
The timing for drilling the well is dependent upon
the receipt of the necessary regulatory approvals and
consents. Based upon the current estimates for receipt
of these, Corallian is expecting to commence to drill the well
during Q4 2018.
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: +62 21 2965 5800 |
| Roland Cornish/ James Biddle |
Beaumont Cornish Limited
(Nominated Adviser) |
Tel: +44 20 7628 3396 |
Colin Rowbury
|
Novum Securities Limited
(Joint Broker) |
Tel: +44 207 399 9427 |
| Christian Dennis |
Optiva Securities Limited
(Joint Broker) |
Tel: +44 20 3411 1881 |
| Stefania Barbaglio |
Cassiopeia Services
Limited
(Public Relations) |
Stefania@cassiopeia-ltd.com |