February 13, 2009
PetroNeft was notified today that Mr. Vakha Sobraliev, a Non-Executive Director of the Company, transferred his entire holding of 23,014,273 ordinary shares of €0.01 each ('Ordinary Shares') to his son Ali Sobraliev at a price of STG£0.1044 per Ordinary Share on 12 February 2009. Following this transaction, Ali Sobraliev's aggregate holding in the Company is 23,014,273 Ordinary Shares, representing approximately 10.04% of the issued share capital of the Company.
Vakha Sobraliev will remain a Non-Executive Director of PetroNeft and his son Ali has advised the Company that he intends remaining a long term holder of the shares.
For further information, contact:
Paul Dowling, CFO, PetroNeft Resources plc
+353 1 443 3720