Pad №2 preparation Well heads at Lineynoye Picture 6

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 16, 2022

Reporting & Operations Update

PetroNeft provides the following updates.

Highlights 

  • The board of PetroNeft is saddened and deeply concerned by the Russia-Ukraine conflict and hopes that a peaceful resolution will be found soon. We continue to monitor the situation on a daily basis, including sanctions and any potential restrictions imposed, and will keep shareholders updated as appropriate. We continue to operate within Government guidelines in all markets in which we operate.
  • Licence 61
              Reservoir stimulation program successfully completed on schedule, within budget, with results as modelled, currently providing an incremental production                    uplift of c. 200 bopd (gross)
              Continue to focus on maximising export volumes
  • Licence 67
               C-4 well at the Cheremshanskoye field continues to exhibit sustained and stable production.
              Drilling preparations continue but at a reduced pace.

February 3, 2022

Director Purchase of Common Shares of PetroNeft

Share Purchase Update

PetroNeft announces that non executive director Eskil Jersing, has purchased common shares in PetroNeft.

 Details of the respective purchase are included in the table below. 

Name

Number of Common Shares purchased

Total number of Common Shares held after Purchase

Percentage of issued share capital held after the purchase

Eskil Jersing

           768,807

              768,807

            0.071%

 

January 17, 2022

Finance Update

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 provides the following financing update. 

Petrogrand Loan facility

On 15th December 2021 that PetroNeft had met all contractual obligations, including the payment of $574,430 (representing 20% of the principal sum outstanding), and the payment of the associated interest for fiscal 2021. The reduced principal amount of $2.3 million, has enabled us to extend the facility by a further 12 months to 15th December 2022.

At the same time PetroNeft has been looking at all options to see if it would be in shareholders’ best interest to re finance the loan. After detailed negotiations with various parties we have decided that it is in the best interests of shareholders to continue with the facility as is. We will continue to explore financing alternatives, with a view to securing terms and conditions, which are in PetroNeft’s Shareholders best interests.