Client News

Andalas Energy and Power Plc, the AIM traded upstream oil and gas company (AIM: ADL), is pleased to announce an operations update on the Betun Selo KSO.

• BTN14: the well is now producing 30 bopd (up from 4.5 bopd immediately after completion of the workover on 7 August 2019). The well is performing ahead of expectations.
• BTN01: The workover encountered a 11-metre column of scale which necessitated a mechanical clean out of the well and acidization of the wellbore and perforations similar to the work carried out on BTN14. The rig is currently re-instating the well with the larger pump and will restart production from this well in the coming days.
• BTN03: On full re-instatment of the BTN01 pump the rig will move to BTN03 location where it will be upgraded in preparation for the workover which is expected to commence by the fourth week of August subject to securing the necessary explosive permits from the Government and Pertamina.

Qualified Person’s Statement

The technical information contained in this announcement has been reviewed and approved by Mr. Gregor Mawhinney. Mr. Mawhinney is consulting for Andalas, acting in the role of Vice President Operations. He has nearly 40 years experience in the oil and gas industry, is a member of the Society of Petroleum Engineers (SPE) and a member of the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL).

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR). Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

For further information, please contact:

Simon Gorringe
Andalas Energy and Power Plc
Tel: +44 1624 681250

Graham Smith
FIM Capital Limited
Tel: +44 1624 681250

Roland Cornish/ James Biddle
Beaumont Cornish Limited
(Nominated Adviser)
Tel: +44 20 7628 3396

Colin Rowbury
Novum Securities Limited
(Joint Broker)
Tel: +44 207 399 9427

Christian Dennis
Optiva Securities Limited
(Joint Broker)
Tel: +44 20 3411 1881