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IN BRIEF: Enwell Energy tumbles as licence suspensions reinstated

ALN

Enwell Energy PLC - Ukraine-focused oil and gas exploration and production company - Mulls legal options after reinstatement of suspensions of the Mekhediviska-Golotvshinska, Svyrydivske and Vasyschevskoye production licences in Ukraine. This follow’s Wednesday’s decision by the Second Appeal Administrative Court in Ukraine to cancel one of the previous interim rulings of the Poltava District Administrative Court. Enwell says: ‘The company is continuing its legal proceedings to challenge the suspension orders, and is consulting with its external legal and other advisers to endeavour to mitigate the risks associated with the regulatory actions of the Ukrainian authorities.’

Current stock price: 16.82 pence, down 28% in London on Thursday

12-month change: up 6.0%

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