PDMR Dealing


February 26, 2008

PetroNeft was notified today that Mr. Paul Dowling, the Chief Financial Officer of the Company, purchased 48,000 ordinary shares of €0.01 each ('Ordinary Shares') at a price of STG£0.3525 per Ordinary Share on 25 February 2008. Following this transaction, Mr Dowling's aggregate holding in the Company is 48,000 Ordinary Shares representing approximately 0.025% of the issued share capital of the Company.