Final Results 2014

June 23, 2015

23 June 2015

PetroNeft Resources plc

(“PetroNeft” or the “Group” or the “Company”)

2014 Final Results

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 2014. In addition, PetroNeft announces that the Company's Annual Report and Accounts for the year ended 31 December 2014 and Notice of AGM will be mailed to shareholders and be available online at the Company's website on or before Tuesday 30 June 2015.

2014 Highlights

· Licence 61 Farmout to Oil India Limited completed in July 2014.

· Total investment by Oil India will be up to US$85 million.

· Licence 61 Farmout has left the Company debt free and is funding a major well drilling campaign.

· Drilling recommenced in August 2014.

· Production 728,826 barrels of oil from Licence 61 in 2014.

Click here to download 2014 Final Results

Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented:

“2014 was a transformative year for the company during which the greatest achievement was the Licence 61 Farmout to Oil India Limited announced in April 2014 and completed in July 2014. The Farmout gave us a strong industry partner seeking to build a strategic position in Russia as well as the financial resources to develop the significant potential of Licence 61. We are currently producing from less than 15% of our reserve base and the substantial investment in infrastructure made in recent years leaves us well placed to deliver significant and profitable growth now that we have satisfactorily resolved the funding challenges of recent years.

Drilling has recommenced at Licence 61 and significant production growth is expected in 2015.”

For further information, contact:

Dennis Francis, CEO, PetroNeft Resources plc

+1 713 988 2500

Paul Dowling, CFO, PetroNeft Resources plc

+353 1 647 0280

John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker)

+353 1 679 6363

Henry Fitzgerald-O’Connor, Canaccord Genuity Limited (Joint Broker)

+44 207 523 8000

Martin Jackson/Shabnam Bashir, Citigate Dewe Rogerson

+44 207 638 9571

Douglas Keatinge, Murray Consultants

+353 1 498 0300