News

On November 16, Ukrgazvydobutok spudded well #29 at Ostroverkhivske field (Kharkiv region). Drilling of a new well with target depth of 4,650 m is scheduled to be completed in Q2, 2022. In case of further successful testing, production hook-up is expected in Q3 next year.

The National Securities and Stock Market Commission (NSSMC) has confirmed the legality of the election procedures and the legal competence of the new Supervisory Board of KHARKIVENERGOZBUT PJSC, which was elected at the company’s extraordinary general meeting on 7 October 2021. The NSSMC is currently taking measures to bring to account the issuer’s officials for falsifying the voting results on the above matter.

Smart Energy Group completed successful workover and resumed operation of well #62 at Ostroverkhivske gas and condensate field in Kharkiv oblast. The workover resulted gas flow rate at the level of 75 thousand m³/day.

For 9 months of 2021 the companies of Smart Energy Group paid in total UAH 1.3 bln in taxes. That is nearly twice as much as for the same period last year (UAH 693.0 mln). These payments include UAH 606.9 mln fee for subsoil use to the budgets of all levels. Thus, UAH 30.3 mln of subsoil tax were paid to the local budgets.

At a meeting on Thursday, 28 October, the Antimonopoly Committee of Ukraine (AMCU) for the second time granted permission to SMART HOLDING (CYPRUS) LTD (hereinafter – SMART HOLDING) to acquire a block of shares in KHARKIVOBLENERGO JSC in a number that ensures more than 25% of votes in the company’s supreme management body. During the consideration of the application, the Committee, the same way as at the beginning of this year, found that the concentration of shares would not lead to monopolization or significant restriction of competition in product markets.

On 7 October 2021, an extraordinary general shareholder meeting of KHARKIVENERGOZBUT PJSC was held online. At the meeting a new legally qualified composition of the company’s Supervisory Board was elected. Officials of KHARKIVENERGOZBUT PJSC falsified the minutes of the meeting stating in them that a decision on this agenda item was not made.

Smart Energy group announces the production results for 9 months, 2021.

SMART HOLDING (CYPRUS) LTD, a shareholder of Kharkivoblenergo JSC, has revealed gross abuse and inefficient use of funds during tender procedures by the management of the energy company for a total of UAH 111.6 million. The shareholder’s representative filed 19 claims on committed grave crimes to the Main Directorate of the National Police in Kharkiv region for an appropriate response.

On 21 September 2021, extraordinary shareholder meetings of KHARKIVOBLENERGO JSC and KHARKIVENERGOZBUT PJSC were held, convened at the initiative of the State Property Fund of Ukraine (hereinafter referred to as the Fund or SPF). During the voting, representatives of the Fund did not support the draft decisions meant to bring the composition of the energy companies’ supervisory boards to compliance with the legislation that regulates the activities of joint stock companies. This has led to the fact that the supervisory boards of KHARKIVOBLENERGO JSC and KHARKIVENERGOZBUT PJSC remain unauthorized since they still do not have independent members.

Drilling of a new well with target depth of 5,250 m is scheduled to be completed by the end of Q1 of 2022. In case of further successful testing, production hook-up is expected during Q2 of 2022.