Business
Change in Ukrainian Subsoil Taxes
Change in Ukrainian Subsoil Taxes.
About this update from Enwell Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0782O Regal Petroleum PLC 01 August 2014 \n \n\n \n1 August 2014\n \nRegal Petroleum Plc\n(\"Regal\" or the \"Company\")\n \nChange in Ukrainian Subsoil Taxes\n \nRegal, the AIM-quoted oil and gas exploration and production group (symbol: RPT), announces that on 31 July 2014 the Ukrainian Parliament approved a significant increase in the subsoil taxes payable by oil and gas companies operating in Ukraine which is expected to come into force imminently on approval by the President of Ukraine, and remain in place until 1 January 2015. \n \nThe full impact on the Company of the proposed increases in the subsoil taxes is still to be determined. However, the Company expects that the increases will result in a near doubling in the production based taxes payable by the Company and will, therefore, negatively impact the Company's results for the current financial year and delay the Company's ability to commit to future capital investments in Ukraine during this uncertain period.\n \nFor further information, please contact:\n \n\n\n\n\nRegal Petroleum plc\n\n\nTel: 020 3427 3550\n\n\n\n\nKeith Henry, Chairman\n\n\n\n\n\n\n\nSergei Glazunov, Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStrand Hanson Limited\n\n\nTel: 020 7409 3494\n\n\n\n\nRory Murphy / Richard Tulloch\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nCitigate Dewe Rogerson\n\n\nTel: 020 7638 9571\n\n\n\n\nMartin Jackson / Shabnam Bashir\n\n\n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCQKDDDQBKDDFK\n ","length":3766,"tagName":"div"}]