Notice of AGM and EGM

July 23, 2008

Notice of AGM and EGM

PetroNeft announces that the Company's 2008 annual general meeting ("AGM") has been brought forward to the earlier date of 14 August 2008. An extraordinary general meeting ("EGM"), to approve a resolution relating to the recently announced $17.3 million equity placing will be held immediately after the AGM. Both the AGM and EGM will be held at the Herbert Park Hotel, Ballsbridge, Dublin 4, Ireland on 14 August 2008. Notices convening such meetings have been posted to Petroneft shareholders. The AGM will commence at 2.00 pm on 14 August 2008.

 Chairman's Cover Letter

 Notice of AGM - Revised Date 14 August 2008

 EGM Notice and Circular

 AGM Form of Proxy

 EGM Form of Proxy



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