Enwell Energy Faces Operational Challenges Amid Licence Suspensions in Ukraine

Enwell Energy ( (GB:ENW) ) has issued an announcement.

Enwell Energy has faced significant operational challenges in Ukraine due to the ongoing war and adverse regulatory actions, resulting in the suspension of key production licences for its MEX-GOL, SV, and VAS fields. This has led to a halt in production and a decrease in gas production volumes compared to the previous year. The company is actively pursuing legal actions to challenge these suspensions and is exploring options to mitigate the impact on its operations. Despite these setbacks, Enwell Energy continues to develop its SC exploration licence and maintains a cautious approach to safeguard its personnel and business in the challenging Ukrainian environment.

More about Enwell Energy

Enwell Energy PLC is an AIM-quoted company engaged in the exploration and production of oil and gas. Its primary operations are located in Ukraine, focusing on the Mekhediviska-Golotvshinska, Svyrydivske, and Vasyschevskoye gas and condensate fields, as well as the Svystunivsko-Chervonolutskyi exploration licence.

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Current Market Cap: $78.19M

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