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.
March 21, 2013
Operations update
Highlights:
- Arbuzovskoye well 105 successfully completed
- Initial oil flow rate of 160 bopd, with no water production
- Successful workover restores production at Arbuzovskoye well 102 to 380 bopd
- Recent pressure testing of two Arbuzovskoye wells shows normal pressure decline
- Arbuzovskoye water source well completed, planned pressure maintenance to commence shortly
- Timing and location of future Arbuzovskoye wells to be determined by response to pressure maintenance programme
- Total production increased to 2,800 bopd
February 8, 2013
Operations update
· Arbuzovskoye well 112 successfully completed
· No water production associated with the well
· Initial oil flow rate of 140 bopd, well presently shut-in for pressure build up testing
· Well 105 currently drilling ahead
· Production from two Arbuzovskoye wells temporarily reduced by c300 bopd due to mechanical issues; expected to be fixable by workover or pressure maintenance
· Total production running at 2,600 bopd; excludes 400+ bopd potential from well 112 and the two mechanically reduced Arbuzovskoye wells
December 18, 2012
Operations update
· Arbuzovskoye well 111 successfully completed and put into production
· Initial oil flow rate of 150 bopd
· No water production associated with the well
· Well 112 currently drilling ahead targeting highest flow eastern side of field
· Total production running at 2,800 bopd with 3 producing wells off line for remedial work on pumps
