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Enwell Energy PLC

20 December 2022

20 December 2022

Enwell Energy plc

("Enwell" or the "Company")

Spud of GOL-107 Well

Enwell Energy plc (AIM: ENW), the AIM-quoted oil and gas exploration and production group, is pleased to announce the spudding of the GOL-107 well at its Mekhediviska-Golotvshinska (MEX-GOL) gas and condensate field in Ukraine.

The GOL-107 well is a development well and has a target depth of 5,190 metres. Drilling operations are scheduled to be completed by the end of the third quarter of 2023, and, subject to successful testing, production hook-up is scheduled during the fourth quarter of 2023. The well is targeting production from the V-20 and V-23 horizons in the Visean formation.

Sergii Glazunov, Chief Executive Officer, said: " We are looking forward to the safe and efficient drilling of the GOL-107 well, which we hope will continue our successes in the development of our fields."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

For further information, please contact:

 
 Enwell Energy plc                          Tel: 020 3427 
                                             3550 
 Chris Hopkinson, Chairman 
 Sergii Glazunov, Chief Executive Officer 
 Bruce Burrows, Finance Director 
 
 Strand Hanson Limited                      Tel: 020 7409 
                                             3494 
 Rory Murphy / Matthew Chandler 
 
 Arden Partners plc                         Tel: 020 7614 
                                             5900 
 Ruari McGirr (Corporate Finance) 
 Simon Johnson (Corporate Broking) 
 
 Citigate Dewe Rogerson                     Tel: 020 7638 
                                             9571 
 Ellen Wilton 
 

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December 20, 2022 02:02 ET (07:02 GMT)

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