PetroNeft Resources plc is an international oil and gas exploration and
production company, focused on Russia. The company’s shares are
listed on the London AIM and Dublin ESM Markets.
December 18, 2014
· Arbuzovskoye 106 well now in production at a stabilised average rate of 170 bopd
· Arbuzovskoye 103 well drilling ahead
· Drilling of Tungolskoye 5 horizontal well continuing
· Total production now at 1,850 bopd
· Seismic crew mobilised to the Sibkrayevskoye fieldLicence 67
· Processing and interpretation of 3D seismic survey completed
· Reserves calculation for Russian State Approval being finalised
· Weakening Russian Rouble acting as a natural hedge to falling oil prices
October 14, 2014
· Vertical pilot hole successfully completed
· Structural interpretation of Tungolskoye confirmed
· Open hole flow test of 100 bopd, unstimulated
· 8.2 metres of net oil pay encountered
· Horizontal section of T-5 well to commence
September 26, 2014
· H1 production average of 2,163 bopd.
· Farmout of Licence 61 to Oil India completed, Company is now debt-free.
· Drilling underway at Tungolskoye and Arbuzovskoye.