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 25, 2019
Financing Update
Loan facility
PetroNeft has entered into a convertible loan facility of US$1.3 million with a group of five lenders. The convertible loan matures on 31st December 2020 or on the sale of either Licence 61 or Licence 67. The loan facility will be used for general corporate and ongoing operational purposes and carries an interest rate of 8% above USD LIBOR. Lenders can elect at any time to convert up to 65% of the outstanding loan to shares at a conversion price of US$0.01547 (1.547 cent).June 21, 2019
Final results 2018
PetroNeft (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to report its final results for the year ended 31 December 2018.
Highlights
· C-4 well at Cheremshanskoye produced about 450 bopd on test
· Gross production at Licence 61 in 2018 was 713,603 barrels of oil or an average of 1,955 bopd
o While this represents a reduction in production it is ahead of expectations due to continued good performance of horizontal wells at South Arbuzovskoye
· 64.2 mmbbls total proved and probable (2P) reserves net to PetroNeft
April 24, 2019
Increase in Reserves for Licence 67 following drilling success
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 (the remaining 50% held by Arawak Energy), is pleased to give the following update in relation to reserves at its Licence 67.
Highlights
· New reserves approved for Licence 67, Cheremshanskoye field.
· Approximately 19.26 mmbbls of C1 + C2 reserves (gross) for the Jurassic Reservoirs.
· Currently examining development options for Licence 67.
· Material additional exploration potential of the overlying Cretaceous section being studied.
