Picture 6 Central processing facility at night Picture 8

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.

October 8, 2020

Successful testing of Mini Oil Refinery


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 is pleased to announce the successful testing of the mini oil refinery on Licence 61 ahead of schedule.

Highlights        

  • Successful testing of mini refinery processing unit on Licence 61.

  • Regulatory approval in process, expected to be in place by Q1 2021.

  • Project set to significantly reduce operating expenditure   

September 25, 2020

Financial Results 2019

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, is pleased to report its final results for the year ended 31st December 2019.

Highlights

  • Significant technical, operational and financial progress in 2019 driven by new leadership team and stronger local input.

 

  • Gross 2019 production 1,614bopd (1,955bopd 2018), rising to 1,727bopd in August 2020. Focused well management, monitoring and intervention programme steadily improved overall field performance at Lineynoye.

 

  • Increased potential of Licence 67 beginning to emerge due to increased focus and careful re-interpretation of data

 

  • Successful Convertible debt and post year end equity issues with strong shareholder and director support.

 

  • Loss for the year $6.4M (2019) reduced from $7.56M (2018).

 

  • Reduction in costs at all levels; corporate costs reduced by 47%, from $1.512M (2018) to $0.807M (2019).

 

  • Due to the COVID-19 pandemic, the Company intends to publish its half year report for the six months ended 30 June 2020 by 31st October 2020.

September 21, 2020

Licence 67 Financing Arrangement

21st September 2020

                                                                                                PetroNeft Resources plc ('PetroNeft' or 'the Company')

Licence 67 Financing Arrangements,

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, is pleased to provide the following financing update:

 Highlights

  • Heads of Terms signed with Alexandrovskoye Oil Refinery (“AOR”) to provide up to $1M to finance infrastructure development on Licence 67 to enable year-round production from 2021.