

May 11, 2023
Further to the announcement on 10th May regarding the voluntarily filing for bankruptcy administration in respect of Stimul-T LLC, PetroNeft (AIM: PTR) provides the following operational updates.
Licence 67 operations
The C-4 well at the Cheremshanskoye field in Licence 67 continues to produce without any material decline at rates of +/- 270 bopd. The well has produced in total almost 220,000 barrels of oil since being placed into production.
Strategic Asset Review
The sales process in respect of both Licences L61 and L67 is on-going with the Company being in active discussions with all stakeholders including potential acquirers. The bankruptcy filing of Stimul-T (owner and operator of Licence 61), as required under the Bankruptcy laws of the Russian Federation, clearly represents additional challenges for the Company during such a process.
The Company continues to be in negotiations with Petrogrand AB ("Petrogrand") and the holders of the 2019 Convertible Loans. The Company cannot predict the outcome of these negotiations and the Company will make further announcements in due course.
Audit Status
To date, the Company has been unable to source an auditor in respect of the Company's financial statements for the financial year ended 31st December 2022. Whilst the Company will continue to source an auditor, it is becoming clear that the Company will not be able to submit audited accounts for 2022 by the required deadline of the 30th of June 2023 under the under the rules of AIM and Euronext Growth. This is a rather unfortunate consequence of owning and managing assets within the Russian Federation in the current environment. The likely consequence of not publishing audited accounts by 30th June 2023 is that the Company’s ordinary shares will be suspended from trading until such time as the situation can be resolved.
May 10, 2023
PetroNeft (AIM: PTR) provides the following update.
· Stimul-T LLC, operator of Licence 61, voluntarily files for bankruptcy administration in Russia
· PetroNeft issues Demand Notice to WorldAce Investments Ltd for outstanding Corporate Management Service charges of $0.98M.
February 10, 2023
Further to the announcement by the Company on 25th November 2022 of the start of a strategic asset review, PetroNeft now announces that the Company has received an expression of interest from Pavel Tetyakov (CEO of PetroNeft), that may or may not lead to an offer being made to acquire the Company’s Russian assets.
February 1, 2023
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.
December 30, 2022
Dublin - 30 December 2022: PetroNeft Resourced PLC ("PetroNeft Resources " or the "Company") an international oil and gas exploration and production company focused in Russia, is pleased to announce that all Resolutions were duly passed without amendment at the Company's AGM held at 10.00 am on, 29 December 2022.
All resolutions as set out in the Notice of AGM were voted on by way of a poll and the results were as follows:
|
In Favour (Including discretionary) |
Against |
Vote Total as % of Issued Share Capital |
Withheld* |
||||||
Resolution |
Votes |
% |
Votes |
% |
% |
Votes |
||||
1
|
377,852,478 |
100.00 |
0 |
0.00 |
35.25 |
0 |
||||
2 |
377,813,653 |
99.99 |
38,825 |
0.01 |
35.25 |
0 |
||||
3 |
377,813,653 |
99.99 |
38,825 |
0.01 |
35.25 |
0 |
||||
4 |
377,819,478 |
100.00 |
0 |
0.00 |
35.25 |
33,000 |
||||
5 |
377,819,478 |
100.00 |
0 |
0.00 |
35.25 |
33,000 |
||||
6 |
377,811,478 |
99.99 |
41,000 |
0.01 |
35.25 |
0 |
||||
*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "in favour" or "against" the Resolution.
The full wording of the resolutions can be found by clicking on the following link:
http://petroneft.com/upload/iblock/0b4/0b47588716d2362ccabe490ec59762a0.pdf
A full replay of the AGM presentation can be found by clicking on the following link. The replay will be available for your perusal up until 28 December 2023.
https://globalmeet.webcasts.com/starthere.jsp?ei=1589994&tp_key=4c6d4d5ef6
December 22, 2022
Annual General Meeting Call on Thursday, December 29th at 10.000 am
Dublin, Ireland – PetroNeft Resources PLC – . an international oil and gas exploration and production company focused in Russia, announced on December 8th last that it will hold its Annual General Meeting on Thursday, December 29 at 10.00am at the Clayton Hotel, Merrion Road, Ballsbridge, Dublin 4, D04 P3C3, Ireland.
Notice of the Annual General Meeting can be obtained by copying and pasting the following link into your web browser.
http://petroneft.com/upload/iblock/0b4/0b47588716d2362ccabe490ec59762a0.pdf
Voting procedures are explained on pages 5 and 6 of the notice of the Annual General Meeting where shareholders can obtain more information on the procedures for voting by completion of an electronic proxy appointment.
This year’s Annual General Meeting conference will be a hybrid type event in which shareholders can attend in person or by logging on to the webcast event which can be accessed by clicking on the following Audience event link at
https://globalmeet.webcasts.com/starthere.jsp?ei=1589994&tp_key=4c6d4d5ef6
Click on the link above to attend the presentation from your laptop, tablet, or mobile device. Audio will stream through your selected device, so be sure to have headphones or your volume turned up. If you have technical difficulties, please click the “Listen by Phone” button on the webcast player and dial the number for your location as provided below. A full replay of the presentation will be available at the same link shortly after conclusion of the AGM, and thereafter will be uploaded on to our website and remain until 29th December 2023.
We recommend Shareholders view the presentation by clicking on the webcast URL above, it is not necessary to dial into the audio presentation, unless you are unable to join the webcast URL. In that circumstance you can dial in to listen to the presentation using your local number below and provide the Confirmation Code 8519083 to the operator when asked.
If you wish to ask a question, you may type your question using our webcast facilities or alternatively you must dial in using your local number below and provide the Confirmation Code 8519083 to the operator when asked.
Location |
Purpose |
Phone Type |
Phone Number |
Australia |
Participant |
Tollfree/Freephone |
1 800 573 793 |
Australia, Sydney |
Participant |
Local |
+61 (0)2 7250 5436 |
Austria |
Participant |
Tollfree/Freephone |
0800 010 005 |
Belgium, Brussels |
Participant |
Local |
+32 (0)2 404 0659 |
Canada, Toronto |
Participant |
Local |
+1 647 484 0478 |
China |
Participant |
National |
400 613 7997 |
Czech Republic |
Participant |
Tollfree/Freephone |
800 143 356 |
Denmark |
Participant |
Tollfree/Freephone |
80 70 16 25 |
Finland |
Participant |
Tollfree/Freephone |
0800 915 076 |
Finland, Helsinki |
Participant |
Local |
+358 (0)9 7479 0361 |
France |
Participant |
Tollfree/Freephone |
0805 101 219 |
France, Paris |
Participant |
Local |
+33 (0)1 76 77 22 74 |
Location |
Purpose |
Phone Type |
Phone Number |
Germany |
Participant |
Tollfree/Freephone |
0800 589 4609 |
Germany, Frankfurt |
Participant |
Local |
+49 (0)69 2222 13420 |
Germany, Munich |
Participant |
Local |
+49 (0)89 20303 5709 |
Greece |
Participant |
Tollfree/Freephone |
00800 128 518 |
Hong Kong |
Participant |
Tollfree/Freephone |
800 938 765 |
Hong Kong, Hong Kong |
Participant |
Local |
+852 5803 0795 |
Hungary |
Participant |
Tollfree/Freephone |
068 001 9218 |
India, Delhi |
Participant |
Local |
+91 (0)11 7181 6876 |
India, Mumbai |
Participant |
Local |
+91 022 5097 2802 |
Ireland |
Participant |
Tollfree/Freephone |
1800 849 087 |
Ireland, Dublin |
Participant |
Local |
+353 (0)1 246 5638 |
Israel |
Participant |
Tollfree/Freephone |
1809 212 883 |
Israel, Tel Aviv |
Participant |
Local |
+972 3721 9315 |
Italy |
Participant |
Tollfree/Freephone |
800 977 396 |
Italy, Milan |
Participant |
Local |
+39 0282 944 129 |
Japan |
Participant |
Tollfree/Freephone |
0120 933 574 |
Japan, Tokyo |
Participant |
Local |
+81 (0)3 6868 0781 |
Korea, Republic of |
Participant |
Tollfree/Freephone |
080 880 0224 |
Korea, Republic of, Seoul |
Participant |
Local |
+82 (0)2 3483 5431 |
Luxembourg |
Participant |
Tollfree/Freephone |
800 24405 |
Malaysia |
Participant |
Tollfree/Freephone |
1800 813 411 |
Malaysia, Kuala Lumpur |
Participant |
Local |
+60 (0)3 7724 0453 |
Mexico |
Participant |
Tollfree/Freephone |
1800 872 0478 |
Mexico, Mexico City |
Participant |
Local |
+52 55 7100 0137 |
Netherlands |
Participant |
Tollfree/Freephone |
0800 023 1436 |
Netherlands, Amsterdam |
Participant |
Local |
+31 (0)20 703 8210 |
New Zealand |
Participant |
Tollfree/Freephone |
0800 423 970 |
New Zealand, Auckland |
Participant |
Local |
+64 (0) 9 9133 622 |
Poland |
Participant |
Tollfree/Freephone |
00 800 121 4059 |
Portugal |
Participant |
Tollfree/Freephone |
800 812 274 |
Qatar |
Participant |
Tollfree/Freephone |
00 800 100 443 |
Saudi Arabia |
Participant |
Tollfree/Freephone |
800 844 8805 |
Singapore |
Participant |
Tollfree/Freephone |
800 120 7298 |
Slovakia |
Participant |
Tollfree/Freephone |
0800 002 286 |
South Africa |
Participant |
Tollfree/Freephone |
0800 780 005 |
Spain |
Participant |
Tollfree/Freephone |
800 600 848 |
Spain, Madrid |
Participant |
Local |
+34 91 114 7293 |
Sweden |
Participant |
Tollfree/Freephone |
0200 880 389 |
Sweden, Stockholm |
Participant |
Local |
+46 (0)8 5033 6574 |
Switzerland |
Participant |
Tollfree/Freephone |
0800 200 831 |
Switzerland, Zurich |
Participant |
Local |
+41 (0)44 580 7206 |
Taiwan |
Participant |
Tollfree/Freephone |
0800 868 298 |
Taiwan, Taipei |
Participant |
Local |
+886 (0)2 8793 3223 |
Location |
Purpose |
Phone Type |
Phone Number |
Thailand |
Participant |
Tollfree/Freephone |
1800 014 189 |
Turkey |
Participant |
Local |
+90 850 390 7583 |
Turkey |
Participant |
Tollfree/Freephone |
00800 4488 29054 |
United Arab Emirates |
Participant |
Tollfree/Freephone |
8000 3570 2653 |
United Kingdom |
Participant |
Tollfree/Freephone |
0800 279 0425 |
United Kingdom, Local |
Participant |
Local |
+44 (0)330 165 4027 |
United States, Los Angeles |
Participant |
Local |
+1 323-794-2423 |
United States/Canada |
Participant |
Tollfree/Freephone |
800-289-0438 |
December 16, 2022
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
The Company continues to be in negotiations with Petrogrand AB (“Petrogrand”) regarding its loan facility, with a current redemption value of US$2.48 million and which matured on Thursday 15 December 2022. We cannot predict the outcome of these negotiations and the Company will make further announcements in due course.
Moreover, the directors of the Company continue to review strategic options available to PetroNeft and are considering all viable options within the context of the current geopolitical environment to maximise value for shareholders.
December 8, 2022
PetroNeft confirms that the Notice of the Company’s 2022 Annual General Meeting (AGM) has been posted to Shareholders today. The 2022 AGM will be held on 29 December 2022 at 10:00am in the Clayton Hotel, Merrion Road, Ballsbridge, Dublin 4, D04 P3C3. The Notice is now available online at the Company's website http://petroneft.com/investor-relations/investor-notices/
November 25, 2022
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, announces the following update.
October 21, 2022
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, announces the following board changes:
Key Points
September 30, 2022
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, is pleased to report its abbreviated interim results for the six-month period ending 30 June 2022
The abbreviated interim results can be viewed by clicking on the following link
September 29, 2022
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, is pleased to report its final results for the year ended 31st December 2021.
In addition, PetroNeft announces that the Company's Annual Report and Accounts for 2021 are now available online at the Company's website www.petroneft.com.
August 29, 2022
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 announces the Temporary Suspension of Oil Acceptance and Transfer from Licence 61 by Nord Imperial LLC (wholly owned subsidiary of ONGC).
June 16, 2022
PetroNeft provides the following updates.
Highlights
February 3, 2022
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
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.
January 13, 2022
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation; and 90% owner and operator of Licences 67 and 50% owner and operator of Licence 61 provides the following update.
Highlights
January 7, 2022
PetroNeft (AIM: PTR) an oil and 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, is pleased to provide a financing update.
Convertible Loan facility
In June 2019, PetroNeft agreed a convertible loan facility of US$1.3 million with a group of five lenders with a revised Convertible loan maturity date of 31st December 2021. Throughout 2021, the group of five lenders at various times elected to convert 65% of their loan advance into Ordinary Equities of PetroNeft Resources plc. The Company is now pleased to announce that it has reached agreement with the five lenders to extend the term of the remaining loan balance of $0.455 million under the following terms:
December 21, 2021
PetroNeft (AIM: PTR) an oil and 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 is pleased to provide the results of the reserves and resource audit, the first undertaken since 2016, for Licence 61 and 2011 for Licence 67.
Highlights
All figures in Mbbls |
Gross |
Net Attributable |
||||||||
Asset Name |
Proved |
Proved & |
Proved |
Proved |
Proved & |
Proved |
||||
|
Probable |
Probable & |
Probable |
Probable & |
||||||
|
|
Possible |
|
Possible |
||||||
Licence 67 |
4.780 |
27.214 |
79.646 |
4.302 |
24.493 |
71.681 |
||||
Licence 61 |
24.345 |
48.325 |
70.950 |
12.173 |
24.163 |
35.475 |
||||
Total = |
29.125 |
75.539 |
150.596 |
16.475 |
48.655 |
107.156 |
||||
NPV10 $(US)M |
Gross |
Net Attributable |
|
|||||||
Asset Name |
Proved |
Proved & |
Proved |
Proved & |
|
|||||
|
Probable |
Probable |
|
|||||||
Licence 67 |
50.186 |
281.895 |
45.167 |
253.706 |
|
|||||
Licence 61 |
266.302 |
536.998 |
133.151 |
268.499 |
|
|||||
Total = |
316.488 |
818.893 |
178.318 |
522.205 |
|
|||||
All figures in Mbbls |
Gross |
Net Attributable |
||||
Asset Name |
1C |
2C |
3C |
1C |
2C |
3C |
Licence 67 |
0.566 |
3.387 |
24.512 |
0.509 |
3.048 |
22.061 |
Licence 61 |
0.499 |
1.471 |
3.369 |
0.250 |
0.736 |
1.685 |
Total = |
1.065 |
4.858 |
27.881 |
0.759 |
3.784 |
23.745 |
December 17, 2021
Dublin 17 December 2021: PetroNeft Resourced PLC ("PetroNeft Resources " or the "Company") an international oil and gas exploration and production company focused in Russia, is pleased to announce that all Resolutions were duly passed without amendment at the Company's AGM held at 11.00 am today, 17 December 2021.
All resolutions as set out in the Notice of AGM were voted on by way of a poll and the results were as follows:
|
In Favour (Including discretionary) |
Against |
Vote Total as % of Issued Share Capital |
Withheld* |
||||||
Resolution |
Votes |
% |
Votes |
% |
% |
Votes |
||||
1
|
576,748,487 |
99.99 |
50,000 |
0.01 |
53.8 |
147,455 |
||||
2 |
576,748,487 |
99.97 |
195,455 |
0.03 |
53.8 |
2,000 |
||||
3 |
565,054,634 |
99.97 |
195,455 |
0.03 |
53.8 |
11,695,853 |
||||
4 |
576,748,487 |
99.97 |
195,455 |
0.03 |
53.8 |
2,000 |
||||
5 |
565,054,634 |
99.97 |
195,455 |
0.03 |
53.8 |
11,695,853 |
||||
6 |
576,748,487 |
99.97 |
195,455 |
0.03 |
53.8 |
2,000 |
||||
7 |
565,054,634 |
99.97 |
195,455 |
0.03 |
53.8 |
11,695,853 |
||||
8 |
565,054,634 |
97.94 |
11,889,309 |
2.06 |
53.8 |
2,000 |
||||
*A vote withheld is not a vote in law and is therefore not counted towards the proportion of votes "in favour" or "against" the Resolution.
The full wording of the resolutions can be found by clicking on the following link:
http://petroneft.com/upload/iblock/21c/21cbf26d4a7455eab7659962d2e5495b.pdf
A full replay of the AGM presentation can be found by clicking on the following link. The replay will be available for your perusal up until 16 December 2022.
https://globalmeet.webcasts.com/starthere.jsp?ei=1517532&tp_key=b11c98442e