The Court of Appeal overturned decision of the first instance court to invalidate special permit for production of hydrocarbons of LLC Arkona Gas-Energy.
Enwell Energy plc for the first half of the current year has increased its average daily production rate of hydrocarbons by approximately 8%, while the revenues have decreased by 21.1%.
Smart Energy Group that is one of TOP 5 biggest private gas producers of Ukraine informs that Arkona Gas-Energy LLC (a part of Smart Energy Group) filed an appeal to the Sixth Appellate Administrative Court. It aims at cancelling the ruling by the District Administrative Court of Kyiv, issued on the claim by PJSC Ukrnafta about recognizing Svystunkivsko-Chervonolutske exploration licence of Arkona Gas-Energy LLC as invalid.
At the moment employees of the National Anti-Corruption Bureau of Ukraine (hereinafter NABU) are conducting a search at the central office of Smart Energy Group (part of Smart-Holding), as well as at the office in Yakhnyki village (Poltava region). The basis for the searches is a writ of investigative judge of anti-corruption court T.R. Khamzina. Based on the wording of the writ, investigative actions are carried out as part of pre-trial investigation in criminal proceedings on legitimacy of issuing in 2017 a special permit for hydrocarbon production to Arkona Gas-Energy (hereinafter Arkona), the acquisition of which was announced on London Stock Exchange in March this year.
Smart Energy points out an unjustified pressure on the British investor and entire business of the Group.
Public British Company Regal Petroleum plc (a part of Smart Energy) that produces hydrocarbons on the territory of Ukraine, announces that it is changing its name to Enwell Energy plc.
British company Regal Petroleum, a part of Smart Energy, obtained commercial inflow of hydrocarbons from a new development well at Svyrydivske field in Poltava oblast.
For Q1, 2020, Smart Energy Group paid UAH 314.8 mln in taxes, down 38% y-o-y. Although production increase, the subsoil taxes has gone down as well. Totally the companies of the group paid UAH 119.8 mln to the budgets of all levels, down 42% against Q1, 2019.
In Q1, 2020, the companies of Smart Energy Group increased the total average daily production rate by 7.8%: from 981 Km3/day up to 1.06 mln m3/day for gas. The average daily production rate for condensate in the group reached nearly 0.1 Ktonnes/day (up 6.3%) for the reported period.
British company Regal Petroleum, a part of Smart Energy, increased an average daily production of hydrocarbons by 26% up to 4,263 boepd in 2019 from 3,391 boepd in 2018.
PrJSC Ukrgazvydobutok, a part of Smart Energy Group, completed successfully two workovers and resumed operation of two wells in Ostroverkhivske field, Kharkiv oblast. The results of workovers enabled the group to increase its average daily production rate up to 75 K m3/day in 2020.