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.
April 17, 2014
Licence 61 Farmout Agreement with Oil India Limited
Highlights
· Total investment by OIL of up to US$ 85 million consisting of:
· US$ 35 million upfront cash payment
· US$ 45 million of exploration and development expenditure on Licence 61
· US$ 5 million performance bonus
· PetroNeft to remain operator of Licence 61
· Subject to regulatory and shareholder approvals with completion expected around end-May 2014
Up to six well drilling campaign to start on completion of farmoutApril 15, 2014
Licence 61 Farmout Update
All legal documentation and due diligence is now complete and the Company expects to execute binding legal agreements within the next week. Macquarie Bank Limited have been advised of this timetable. Shareholders will be updated fully once the agreements are signed.
April 1, 2014
EGM Requisition and Publication of Circular
EGM Requisition and Publication of Circular
Board Recommends Shareholders to Vote AGAINST ALL Resolutions
Board Recommends Shareholders to Vote AGAINST ALL Resolutions
