Enwell Energy, the AIM-quoted oil and gas exploration and production group, advises that it has obtained interim rulings from the Poltava District Administrative Court in Ukraine to lift the respective suspensions of the Company’s Mekhediviska-Golotvshinska ('MEX-GOL'), Svyrydivske ('SV') and Vasyschevskoye ('VAS') production licences in Ukraine.
As announced on 18 November 2024, the State Geologic and Subsoil Survey of Ukraine (the 'SGSS') issued suspension orders dated 15 November 2024 in respect of each of the MEX-GOL, SV and VAS production licences for a period of 10 years effective from 8 October 2024. As a result, the Company ceased all field operations on each of these licences, including shutting down production operations.
Shortly after receiving the suspension orders, the Company issued legal proceedings in the Poltava District Administrative Court in Ukraine to challenge such orders, and within such proceedings, the Company sought interim rulings to have such orders lifted pending determination of the substantive issues in the legal proceedings. Yesterday, the Court made interim rulings to lift the respective suspension orders of the MEX-GOL, SV and VAS production licences pending the determination of the legal proceedings.
Following such interim ruling, the Company has resumed field operations on each of these licences, including resuming production operations.
Source: Enwell Energy
