British Company Enwell Energy, a part of Smart Energy, that holds 100% working interest and is an operator of Mekhedivsko-Golotovshchynske, Svyrydivske, Vasyshchivske and Svystunkivske-Chervonolutske fields, announces that all its licences are valid.
Taking into account the current public statements regarding the ruling by the District Administrative Court of Kyiv that indicates the licence of Arkona Gas-Energy LLC as invalid, the company announces that it intends to defend its right for further operations at Svystunkivsko-Chervonolutske field at court and is planning to continue its work at the asset.
Enwell Energy, the AIM-quoted company, that follows the principles of transparency and competition, will issue an appeal of the decision by the District Administrative Court in accordance with legal procedure. The abovementioned ruling has not come into legal effect yet. The company is confident in its legal reasoning that is based on rulings by courts of different instances, including the Supreme Court of Ukraine. The Supreme Court has already dismissed the arguments of the participants of the proceedings, including PJSC Ukrnafta, regarding irregularity of licence granting in similar proceedings regarding the field.
Earlier, in March British Enwell Energy acquired Arkona Gas-Energy LLC, expanding its activities to Svystunkivsko-Chervonolutske field. By the end of 2020 the company is going to commence a new well at the field. Currently, there are preparation works there.
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