July 21, 2008
Certain directors of PetroNeft subscribed for Ordinary Shares in the recently announcement $17.3 million equity fund raising. The number of Ordinary Shares that the directors subscribed for and their resultant holdings are as follows:
|First Tranche Placing Shares||Second Tranche Placing Shares*
||Resulting holding of Ordinary Shares||% of Enlarged Share Capital|
*Completion of the Second Tranche is conditional, inter alia, upon receiving shareholder approval at an extraordinary general meeting of the Company. A circular to convene such an EGM will be sent to shareholders shortly.
Capitalised terms in this announcement have the same meaning as the announcement published by the Company on 18 July 2008.
Dennis Francis, CEO, PetroNeft Resources plc,
+1 713 988 2500
Paul Dowling, CFO, PetroNeft Resources plc
+353 1 4433720
Desmond Burke, Director Investor Relations, PetroNeft Resources plc
+353 52 53226