Well heads at Lineynoye Gas powered generators at Central processing facility 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.

January 7, 2016

Director Shareholdings

PetroNeft received notification on 6 January 2016 that Dennis Francis acquired an additional 1,500,000 ordinary shares bringing his total holding to 25,890,416 (3.66%).

December 31, 2015

Director Shareholdings

PetroNeft received notification on 30 December 2015 that Dennis Francis acquired an additional 630,000 ordinary shares bringing his total holding to 24,390,416 (3.45%).

December 14, 2015

Operations Update

Tungolskoye

• T-501 and T-505 horizontal wells drilled. Logs suggest both to have better quality oil pay than earlier wells. Workovers in progress to improve initial flow rates.

• T-509 vertical injector well drilled. Potential for oil production before conversion to be tested.

Arbuzovskoye

· Workover programme to increase production is planned for January 2016.

· Southern portion development progressing with well pad currently under construction.

· Significant field reserve upgrade anticipated based on new well and seismic data.

Sibkrayevskoye Reserves

· Oil in Place estimates upgraded based on new seismic data; 2P reserves expected to increase significantly.