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.
February 3, 2015
Operations Update
Highlights
Tungolskoye
· Tungolskoye No. 5 well tested at over 600 bopd and is now in production
· Development of Tungolskoye to proceed immediately
o 11 well Tungolskoye campaign to commence in Q2 2015
o Tenders awarded for drilling and for the development of additional infrastructure at Tungolskoye
Arbuzovskoye & Sibkrayevskoye
· Arbuzovskoye 103 well now in production at a stabilised average rate of 125 bopd and confirms southern lobe of field
· Arbuzovskoye 104 well drilled with 5.4 metres of net pay, expected on production shortly
· Arbuzovskoye 107 well has been spudded
December 18, 2014
Operations Update
Licence 61
· 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 field
Licence 67· Processing and interpretation of 3D seismic survey completed
· Reserves calculation for Russian State Approval being finalised
Corporate
· Weakening Russian Rouble acting as a natural hedge to falling oil prices
October 14, 2014
Tungolskoye No. 5 update
· 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
