News

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 provides the following financing update.

Highlights

• Reduction in Petrogrand loan to $2.3 million and all conditions now satisfied to extend maturity for an additional year.

• Agreement reached to extend the current term by 30 days to 15^th January 2022 due to on-going 3^rd party refinancing negotiations.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, is pleased to provide a financing update.

Highlights

• Total of $37,500 of debt converted to equity under 2021 convertible loan agreement for the issuance of 1,395,255 new ordinary shares.

PetroNeft confirms that the Notice of the Company’s 2021 Annual General Meeting (AGM) has been posted to Shareholders today. The 2021 AGM will be held on 17 December 2021 at 11:00am in the Clayton Hotel, Merrion Road, Ballsbridge, Dublin 4, D04 P3C3. The Notice is now available online at the Company's website http://petroneft.com/investor-relations/investor-notices/

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 is pleased to announce the following operational news.

Highlights

• Contract signed for the provision of fracking services on the Lineynoye and Arbuzovskoye fields in Licence 61 during the forthcoming winter season

PetroNeft (AIM: PTR) an oil and gas exploration and production company, operating in the Tomsk Oblast, Russian Federation and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 is pleased to announce that the Board has elected Eskil Jersing as Independent Non-Executive Director of the Company with immediate effect.

PetroNeft Resources plc (further referred to as the “Company” and together with its subsidiaries and joint venture, the “Group”, AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 is pleased to announce its unaudited financial and operating results for the half-year period ended 30 June 2021 (“H1 2021” or the “Period”).

Click here for report: /investor-relations/financial-reports/Interim Results for Half Year Ended 30 June 21.pdf

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 is pleased to announce the following operational news.

Highlights

o   Export oil sales to commence from 1^st October.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, announces that it has received notice to convert a total of $375,000 of debt, issued under a recent convertible loan agreement, for the issuance of 13,686,131 new Ordinary shares.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, announces that it has received notice to convert a total of $293,125 of debt, issued under 3 historic convertible loan agreements, for the issuance of 11,475,840 new Ordinary shares.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 provides the following update.

Highlights

• Miller and Lents have been awarded the contract to independently audit the company’s reserves/resource. 

• New reserve/resource report due to be published before the end of Q3.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licences 67 and 50% owner and operator of Licence 61 is pleased to report its final results for the year ended 31^st December 2020.

Highlights

• New leadership, combined with strong local support, continues to demonstrate significant technical, operational and financial progress in 2020. 

• Despite external adverse factors including closing down production in April 2020 due to oil price, gross 2020 production averaged 1,562 bopd down only 3.2% year on year (1,614 bopd 2019). 

• Operating costs per barrel reduced by 10.3% (cost of sales excluding depreciation and Mineral Extraction Tax) at US$12.39 per barrel (2019: US$13.82 per barrel). 

• Loss for the year US$4.54M (2020) reduced from US$6.04M (2019) despite 32.7% fall in realized oil price per barrel. 

• Due to the COVID-19 pandemic, the Company intends to publish later the notice for the Annual General Meeting in order to increase the chances of shareholders to be able to physically attend. 

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licences 67 and 50% owner and operator of Licence 61 is pleased to announce the following operational news.

Highlights

• Production from the Cheremshanskoye field has provided the Company with strong operational cash flows. The well has shown virtually no decline since the start of production. The choke size was recently increased to 10mm and the rate increased to 320 bopd.

• Workover operations on the L-2a well at the Ledovoye field also at Block 67 have been carried out successfully, producing an oil flow through a perforated liner which should enable the Company to book Russian state reserves, leading to the creation of development options for this field.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, is pleased to announce the following operational update for Licence 67.

Highlights 

• Completion of the Cheremshanskoye road ahead of schedule and within budget.

• Good performance from the C-4 well. The well is flowing naturally at approximately 300 bopd without any decline and over 16,000 bbls of oil has been produced to date.

• Workover rig mobilized to the L-2a well on Ledovoye field, initial results expected by the end of Q2.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61, is pleased to provide a financing update.

Highlights

• $156,000 of debt converted to equity under the 2019 convertible loan agreement for the issuance of 10,084,034 new Ordinary shares.

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licence 61 and 90% owner of Licence 67, is pleased to provide a financing update.

Highlights

• Total of $2.69M of debt converted to equity under three historic convertible loan agreements for the issuance of 115,794,613 new Ordinary shares.

• Participation by the company’s largest Shareholders, Directors and Senior Management.

PetroNeft Resources PLC (the “Company”) provides the following update in relation to the migration of Irish corporate securities from CREST to Euroclear Bank (“Migration”) under the Migration of Participating Securities Act 2019 (“2019 Act”).

Following the approval of all resolutions necessary to facilitate participation of the Company's ordinary shares in Migration at the extraordinary general meeting of the Company held on 19 February 2021, the Company has now completed all necessary actions required of it under the 2019 Act and the Migration Guide.

PetroNeft Resourced PLC ("PetroNeft Resources " or the "Company") an international oil and gas exploration and production company focused in Russia, is pleased to announce that the proposed Resolution was duly passed without amendment at the Company's EGM held at 11.00 am today, 12 March 2021. 

Extraordinary General Meeting Call on Friday, March 12 at 11.000 am

Dublin, Ireland – PetroNeft Resources PLC – an international oil and gas exploration and production company focused in Russia, announced on February 19 last that it will hold an Extraordinary General Meeting on March 12 at 11.00am.

To tackle the ongoing COVID-19 global pandemic, the Irish and UK Governments have put in place various laws restricting the   movement and gathering of people. These laws include restriction on gatherings indoors, unless essential for work purposes. The health and wellbeing of our Shareholders, employees, advisers and of the public is of utmost importance to the Board. The Company is committed to minimizing the unnecessary movement of people at this time. As a result, and in order that Shareholders can comply with the measures currently in place, this Extraordinary General Meeting requires to be a closed meeting, which Shareholders are not permitted to attend in person.

Notice of the Extraordinary General Meeting can be obtained by copying and pasting the following link into your web browser.

http://petroneft.com/news/2021/1254/

Voting procedures are explained in pages 12 and 13 of the notice of the Extraordinary General Meeting where shareholders can obtain more information on the procedures for voting by completion of either an electronic proxy appointment or a CREST Proxy Instruction.

The Extraordinary General Meeting conference will be a webcast event and can be accessed by copying and pasting the following link into your web browser.

https://globalmeet.webcasts.com/starthere.jsp?ei=1433970&tp_key=2630a914c3

Shareholders can attend the presentation from their laptop, tablet, or mobile device. Audio will stream through your selected device, so be sure to have headphones or your volume turned up.