

November 20, 2018
Dennis Francis, Chief Executive Officer (“CEO”) and a founder of the Company, has informed the Board that he has elected to retire as CEO following his recent 70th birthday. Mr Francis will remain as a Non-Executive Director in the Company and has agreed to assist the Company on a consulting basis as required to ensure a smooth transition for his replacement and to assist in examining options to maximise shareholder value including the potential disposal of Licences 61 and 67.
The Board has initiated a search for a new CEO to succeed Mr Francis and has asked Karl Johnson, VP of Operations, to assume the position of interim CEO with immediate effect.
November 8, 2018
PetroNeft (AIM: PTR) an oil and 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 that cased-hole testing of the J1-1 and J1-3 intervals of the Cheremshanskoye No.4 (C-4) well in Licence 67 has confirmed the excellent results from the open-hole testing reported on 28 August.
Highlights
· Excellent results of open-hole testing confirmed and upgraded by extensive cased-hole test of the J1-1 and J1-3 intervals. The well productivity from the cased-hole test indicates that the combined intervals should achieve in excess of 450 bopd when produced on an electric submersible pump.
· The C-4 well proves up the northern half of the Cheremshanskoye field with oil tested from two horizons.
· The well is the first one drilled with the help of 3D seismic data acquired by PetroNeft in 2014 and is approximately 5km from two previous oil wells which were drilled along the southern boundary of the field (C-1 & C-3 wells).
· Result has the potential to increase gross reserves by 40 mmbbls (20 mmbbls net to PetroNeft)
September 26, 2018
Highlights
• Gross production from Licence 61 in H1 2018 was 2,135 bopd (1,068 bopd net to PetroNeft).
• Testing of C-4 well continuing
o Testing will continue for several week
August 28, 2018
Highlights
· Successful well proves up significant northern half of the Cheremshanskoye field with oil tested from two horizons at a combined prorated flow of 399 bfpd, exceeding expectations.
· The well is the first one drilled with the help of 3D seismic data acquired by PetroNeft in 2014 and is approximately 5km from the previous two oil wells which were drilled along the southern boundary of the field (C-1 & C-3).
· Result has the potential to increase reserves by 40 mmbbls (20 mmbbls net to PetroNeft)
· Total net pay across both Jurassic intervals is 10.4 m
August 9, 2018
Oil production at Licence 61 for the second quarter of 2018.
Licence 61 Gross Production |
Q2-2018 |
Q1-2018 |
Q4-2017 |
Q3-2017 |
Q2-2017 |
FY 2017 |
FY 2016 |
FY 2015 |
Total gross production bbls |
183,368 |
203,114 |
198,708 |
192,956 |
200,208 |
816,476 |
990,887 |
737,655 |
Gross bopd |
2,015 |
2,257 |
2,160 |
2,097 |
2,200 |
2,237 |
2,707 |
2,021 |
PetroNeft 50% share bopd |
1,008 |
1,128 |
1,080 |
1,049 |
1,100 |
1,118 |
1,354 |
1,010 |
August 7, 2018
August 1, 2018
It has come to our attention that the above fake website has been setup in an attempt to defraud potential buyers of oil products. We have contacted the website Registrar to have the site removed.
July 12, 2018
June 27, 2018
2017 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 2017.April 26, 2018
Oil production at Licence 61 for the first quarter of 2018.
Licence 61 Gross Production |
Q1-2018 |
Q4-2017 |
Q3-2017 |
Q2-2017 |
Q1-2017 |
FY 2017 |
FY 2016 |
Total gross production |
203,114 |
198,708 |
192,956 |
200,208 |
224,604 |
816,476 |
990,887 |
Gross bopd |
2,257 |
2,160 |
2,097 |
2,200 |
2,496 |
2,237 |
2,707 |
PetroNeft 50% share bopd |
1,128 |
1,080 |
1,049 |
1,100 |
1,248 |
1,118 |
1,354 |
March 22, 2018
January 25, 2018
Production at Licence 61 in the fourth quarter of 2017.
Licence 61 Gross Production |
Q4-2017 |
Q3-2017 |
Q2-2017 |
Q1-2017 |
FY 2017 |
FY 2016 |
FY 2015 |
Total gross production |
198,708 |
192,956 |
200,208 |
224,604 |
816,476 |
990,887 |
737,655 |
Gross bopd |
2,160 |
2,097 |
2,200 |
2,496 |
2,237 |
2,707 |
2,021 |
PetroNeft 50% share bopd |
1,080 |
1,049 |
1,100 |
1,248 |
1,118 |
1,354 |
1,010 |
January 17, 2018