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 6, 2011
Operations Update
· 10 well hydraulic fracturing programme completed
o Wells now being brought back online and cleaning-up
o Initial results encouraging
· Additional five well hydraulic fracturing programme planned on Pads 1 and 2 in January / February 2012
· Cheremshanskaya No. 3 well testing progressing successfully
o Lower Jurassic J14 interval achieves natural flow
o Primary Upper Jurassic J1-3 interval may contain 7.0 metres of net oil pay
· Arbuzovskoye Development Programme Approved by Russian Government
· Ledovoye exploration well spudded on 5 December
October 19, 2011
Cheremshanskaya Discovery
· Cheremshankaya No. 3 well discovers two hydrocarbon pools
o Oil discovery in main Upper Jurassic target
o Gas/oil discovery in Lower Jurassic target
o Successful open hole inflow test on both intervals
· Development drilling at Lineynoye continues to push field boundary further north
· The hydraulic fracturing programme at Lineynoye to commence shortly
September 21, 2011
North Varyakhskaya Discovery
· Seventh oil field discovered in Licence 61
· North Varyakhskaya No. 1 well makes oil discovery in main Upper Jurassic target
o 2.2 metres of net oil pay confirmed in J1-1 interval
o Open hole inflow test of 36 bfpd (unstimulated)
