Urals Energy knows no reason for recent share price rise

6th Feb 2017 14:28

(ShareCast News) - AIM-listed oil and gas exploration company Urals Energy said on Monday that it knows no reason for the recent jump in the share price.Urals said it continues to progress its operational and drilling programmes, as indicated in its announcement on 18 January, but no new material developments have occurred."The board notes the general strength in oil prices since earlier in the year. In addition, the board believes that there has recently been some improvement in market sentiment towards companies with operations in Russia." The company said it will make further announcements as and when appropriate.At 1545 GMT, the shares were up 4.6% to 6.54p.