Director's Dealing Announcement

January 30, 2007


PetroNeft Resources plc

('PetroNeft' or 'the Company')


PetroNeft was notified today that Mr. Vakha Sobraliev, a non-executive director of the Company, purchased 124,262 ordinary shares of €0.01 each ('Ordinary Shares') at a price of €0.69 per Ordinary Share. Following this transaction, Mr Sobraliev's aggregate holding in the Company has increased to 22,774,314 Ordinary Shares representing approximately 12.9% of the issued share capital of the Company.