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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.

June 29, 2020

2019 and Q1 2020 Operations Update

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 is pleased to provide the following extensive operations update covering the full year 2019 and Q1 2020. This information is being provided to update shareholders on operations while we are working towards completion of our audit and publication of the 2019 Annual Report – both having been delayed due to Covid.   An extension has been granted by Dublin ESM and London AIM markets.

May 11, 2020

Share Issue

Share Issue

PetroNeft has settled outstanding liabilities owed to Dennis Francis totalling $200,000 through the issue of 10,471,204 new ordinary shares.

Resultant holdings of Mr Francis:

Ordinary Shares held 

prior to Share Issue

   Share 

    Issue

   Resulting holding

   of Ordinary Shares

% of Issued 

    Share Capital*

Dennis Francis 

        36,361,620

     10,471,204    

46,832,824

5.58%

                                               

*This percentage shareholding is based on a total shares now in issue figure of 839,357,061 ordinary shares.

The Company will apply for admission of the Shares to be traded on the AIM and Euronext Growth markets. It is expected that Admission will take place and that trading will commence on or around 14th May 2020.

For further information, contact:

David Sturt, CEO, PetroNeft Resources plc

     +971 55 1919 808

John Frain/Brian Garrahy, Davy (NOMAD and Broker)    

      +353 1 679 6363            

Joe Heron / Douglas Keatinge, Murray Consultants

      +353 1 498 0300

 

April 27, 2020

Operations Update

Highlights

  • Successful re-entry of the C-3 well in the Lower Jurassic J14 interval in the C-3 well. Testing confirmed gas, and non-commercial quantities of high paraffin condensate/light oil.

  • Work over of the J14 interval was under budget.

  •  Testing of the upper horizons and the well re-entry program as a whole has been suspended due to the current global situation.