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.
July 21, 2016
Fourth successful well drilled at South Arbuzovskoye
Further increases to record production levels
· Current gross production from Licence 61 increased to about 3,700 bopd (1,850 bopd net to PetroNeft)
· Increase due to new A-216 well at ArbuzovskoyeThis is a new record high production for the Licence area, improving further the levels reported at the beginning of the month
July 5, 2016
Third successful well drilled at South Arbuzovskoye
Fourth well added as follow-up
Record production achieved
· Current gross production from Licence 61 increased to about 3,500 bopd (1,750 bopd net to PetroNeft).
· Increase due to three strongly performing new wells at Arbuzovskoye.
· This is the all-time record high production for the Licence area.
June 23, 2016
· Gross production 737,655 barrels of oil from Licence 61 in 2015
o Average gross production of 2,021 bopd
o Current gross production about 3,000 bopd
· 11 Wells drilled in 2015
· 1,000 km of 2D seismic acquired at Licence 61 in 2015
· 65.5 mmbbls total 2P reserves net to PetroNeft
· Further production increases likely from South Arbuzovskoye
· Drilling at Sibkrayevskoye No. 374 due to commence in July 2016 – potential for material increase in reservesActive, fully funded work programme planned at Licence 61 in 2016 and 2017