

December 14, 2020
Highlights
· Strategic step forward on Licence 67 towards year-round production and development of Cheremshanskoye field.
· Offtake contract signed with Alexandrovskoye Oil Refinery (“AOR”) that includes circa $1M of advance payment against future oil shipment from the C4 well on the Cheremshanskoye field to cover infrastructure development on Licence 67.
· Contract awarded to Kedr LLC (local construction company in Tomsk) to cover the construction of a 6.5 km all weather road connecting the C4 well to the nearest all season road thereby enabling year round production from early 2021.
November 26, 2020
PetroNeft Resources plc ('PetroNeft' or 'the Company')
NOTICE OF AGM POSTING
PetroNeft confirms that the Notice of the Company’s 2020 Annual General Meeting (AGM) has been posted to shareholders today. The 2020 AGM will be held at 11:00am in the Red Cow Inn, Naas Road, Dublin, D22RSP3, Ireland. The Notice is now available online at the Company's website Click here for AGM Notice 2020
October 30, 2020
Highlights
October 8, 2020
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 is pleased to announce the successful testing of the mini oil refinery on Licence 61 ahead of schedule.
Highlights
Successful testing of mini refinery processing unit on Licence 61.
Regulatory approval in process, expected to be in place by Q1 2021.
Project set to significantly reduce operating expenditure
September 25, 2020
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, is pleased to report its final results for the year ended 31st December 2019.
Highlights
September 21, 2020
21st September 2020
PetroNeft Resources plc ('PetroNeft' or 'the Company')
Licence 67 Financing Arrangements,
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, is pleased to provide the following financing update:
Highlights
August 25, 2020
25th August 2020
PetroNeft Resources plc ('PetroNeft' or 'the Company')
Operational Update
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 is pleased to announce improved production.
Highlights
o Production up year on year by 7.8%, to 1,589 bbls/day July 2020, currently averaging 17% above July 2019 levels.
o Strong performance from the Lineynoye field with production over 20% ahead of July 2019 levels.
o Sibkrayevskoye field continues to perform well with production currently averaging 246 bbls/day.
o Improvement in local market conditions.
June 29, 2020
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 is pleased to provide the following extensive operations update covering the full year 2019 and Q1 2020. This information is being provided to update shareholders on operations while we are working towards completion of our audit and publication of the 2019 Annual Report – both having been delayed due to Covid. An extension has been granted by Dublin ESM and London AIM markets.
May 11, 2020
Share Issue
PetroNeft has settled outstanding liabilities owed to Dennis Francis totalling $200,000 through the issue of 10,471,204 new ordinary shares.
Resultant holdings of Mr Francis:
Ordinary Shares held prior to Share Issue |
Share Issue |
Resulting holding of Ordinary Shares |
% of Issued Share Capital* |
|
Dennis Francis |
36,361,620 |
10,471,204 |
46,832,824 |
5.58% |
*This percentage shareholding is based on a total shares now in issue figure of 839,357,061 ordinary shares.
The Company will apply for admission of the Shares to be traded on the AIM and Euronext Growth markets. It is expected that Admission will take place and that trading will commence on or around 14th May 2020.
For further information, contact:
David Sturt, CEO, PetroNeft Resources plc |
+971 55 1919 808 |
John Frain/Brian Garrahy, Davy (NOMAD and Broker) |
+353 1 679 6363 |
Joe Heron / Douglas Keatinge, Murray Consultants |
+353 1 498 0300 |
April 27, 2020
Highlights
April 1, 2020
Highlights
· Connection of the Sibkrayevskoye field to the Central Processing Facility enabling year-round production from Sibkrayevskoye.
March 16, 2020
Highlights
· Successful re-entering of the C-4 well, flowing naturally at up to 476 bopd of good quality 100% oil from the Upper Jurassic J1-1 & J1-3 reservoirs.
· Negotiated attractive long-term oil sales contract for all oil produced from Licence 67. Approximately 1,200 bbls of oil already sold and transferred to the refinery. These are the first commercial sales from Licence 67.
· High value barrels attracting lower MET rate.
· Work over rig now moving from C-4 to the C-3 well on the southern margin of the Cheremshanskoye field to test the deeper Jurassic J-14 reservoir.
January 17, 2020
Operational Highlights
· Contract awarded and construction commenced on mini oil processing facility on Licence 61, completion due in 2020.
· Operations commence on Licence 67 with construction of winter road linking the C-4 and C-3 wells to the road and contract awarded for work over rig for the C-4 well work over which will start in January.
Board Changes:
· Maxim Korobov has elected to resign from the Board. Pavel Tetyakov, the Company’s Vice President of Business Development and Daria Shaftelskaya join the board with immediate effect.
January 8, 2020
December 12, 2019
Highlights:
October 30, 2019
Highlights
September 30, 2019
PetroNeft (AIM: PTR) an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 is pleased to report its results for the 6 months ended 30 June 2019.
Highlights
June 25, 2019
Loan facility
PetroNeft has entered into a convertible loan facility of US$1.3 million with a group of five lenders. The convertible loan matures on 31st December 2020 or on the sale of either Licence 61 or Licence 67. The loan facility will be used for general corporate and ongoing operational purposes and carries an interest rate of 8% above USD LIBOR. Lenders can elect at any time to convert up to 65% of the outstanding loan to shares at a conversion price of US$0.01547 (1.547 cent).June 21, 2019
PetroNeft (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to report its final results for the year ended 31 December 2018.
Highlights
· C-4 well at Cheremshanskoye produced about 450 bopd on test
· Gross production at Licence 61 in 2018 was 713,603 barrels of oil or an average of 1,955 bopd
o While this represents a reduction in production it is ahead of expectations due to continued good performance of horizontal wells at South Arbuzovskoye
· 64.2 mmbbls total proved and probable (2P) reserves net to PetroNeft
April 24, 2019
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67 (the remaining 50% held by Arawak Energy), is pleased to give the following update in relation to reserves at its Licence 67.
Highlights
· New reserves approved for Licence 67, Cheremshanskoye field.
· Approximately 19.26 mmbbls of C1 + C2 reserves (gross) for the Jurassic Reservoirs.
· Currently examining development options for Licence 67.
· Material additional exploration potential of the overlying Cretaceous section being studied.