Interim Results H1 2015

September 29, 2015

2015 Interim Results

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 2015.


• Current gross production from Licence 61 is about 2,700 bopd.

o Represents a 46% increase in production in 2015.

• New wells drilled at Tungolskoye, Sibkrayevskoye, West Lineynoye and Arbuzovskoye during period.

• 1,000 km of high resolution 2D seismic data acquired at Licence 61

Download 2015 Interim Results

David Golder, Chairman of PetroNeft Resources plc, commented:

We have had an exceptionally busy year so far, with good success in growing production by over 40% and in enhancing our understanding of Licence 61 through the acquisition of new seismic data.

Given that market conditions remain challenging with little sign of improvement in oil prices in the near term, our focus is on growing production, managing costs and positioning the company for any improvement in the market conditions. We look forward to updating shareholders of our results over the coming year.

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

Joe Heron / Douglas Keatinge, Murray Consultants

+353 1 498 0300

The information contained in this announcement has been reviewed and verified by Mr. Dennis Francis, Director and Chief Executive Officer of PetroNeft, for the purposes of the Guidance Note for Mining and Oil & Gas Companies issued by the London Stock Exchange in June 2009. Mr. Francis holds a B.S. Degree in Geophysical Engineering and a M.S. Degree in Geology from the Colorado School of Mines. He has also graduated from the Harvard University Program for Management Development. He is a member of the American Association of Petroleum Geologists and the Society of Exploration Geophysicists. He has over 40 years’ experience in oil and gas exploration and development.