Debt Financing Update

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.

Petrogrand Loan facility

The Company continues to be in negotiations with Petrogrand AB (“Petrogrand”) regarding its loan facility, with a current redemption value of US$2.48 million and which matured on Thursday 15 December 2022. We cannot predict the outcome of these negotiations and the Company will make further announcements in due course.

Moreover, the directors of the Company continue to review strategic options available to PetroNeft and are considering all viable options within the context of the current geopolitical environment to maximise value for shareholders.

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