In its November 1, 2013, announcement Urals Energy published the results of the passive seismic spectroscopy conducted by Geodynamics Worldwide earlier this year on their concession on the island of Kolguyev in the Barents Sea in Russia. A summary of the results is published on the London Exchange website and can be viewed here.
The summary was prepared upon Urals request by our geologist Carlo Brentari and it outlines the five main trends of hydrocarbon potential as revealed by the results. Urals Energy further says that this “is consistent with the Company’s existing exploration strategy”. Based on this new set of data Urals Energy has requested a reassessment of the reserves.
The complete announcement of Urals Energy can be read here.
