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Enwell Energy ( (GB:ENW) ) just unveiled an update.
Enwell Energy PLC reported a decline in its 2024 financial results, with revenue falling by 28% to $44.9 million due to lower production rates and gas prices. The ongoing war in Ukraine has significantly impacted the company’s operations, leading to the suspension of key production licenses by Ukrainian authorities, which has halted operations at several fields. Despite these challenges, Enwell Energy maintains a strong cash position outside Ukraine to navigate the current risk environment and plans to fund its development program through existing cash resources and operational cash flow.
More about Enwell Energy
Enwell Energy PLC is an AIM-quoted oil and gas exploration and production group. The company focuses on the exploration and production of oil and gas, with operations primarily in Ukraine.
Average Trading Volume: 40,073
Technical Sentiment Signal: Hold
Current Market Cap: £52.91M
Find detailed analytics on ENW stock on TipRanks’ Stock Analysis page.