News


November 8, 2018

Drilling Update – Results of C-4 Well Upgraded

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

H1 2018 Interim Results

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

Drilling Update – C-4 Well

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

Q2 2018 Production Update

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

Drilling Update

Drilling of the Cheremshanskoye No. 4 (C-4) well has commenced in recent days. The C-4 well is designed to further delineate and de-risk the Cheremshanskoye field in advance of field development. 

August 1, 2018

Fraud Warning – fake website – www.petroneftoil.com

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

Statement on Media Speculation

PetroNeft (AIM: PTR), notes the speculation in media regarding the potential disposal of Licence 61.  The Company is examining a number of options in relation to maximising shareholder value.   This process is at a very early stage and there is no certainty that any transaction will be completed.  Further announcements will be made in the event of a material development.

June 27, 2018

Final Results 2017

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

Quarterly Production Update

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

Update on 2018 Work Programme

• Drilling of the Cheremshanskoye No. 4 (C-4) Appraisal Well in Licence 67.
• Continued testing at Sibkrayevskoye in Licence 61.
• Studies for West Lineynoye L-8 Lobe Development in Licence 61.

January 25, 2018

Quarterly Production Update

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

Financing Update

Highlights
• US$2 million loan agreed with Petrogrand AB
• Operations – Winter production from Sibkrayevskoye is getting underway

November 10, 2017

Q3 & October 2017 Production Data

PetroNeft provides an update on oil production at Licence 61 in the third quarter of 2017 and for October 2017.

 

Licence 61 Gross Production

Oct-17

Q3-2017

Q2-2017

Q1-2017

FY 2016

FY 2015

Total gross production

65,804

192,956

200,208

224,604

990,887

737,655

Gross bopd

2,123

2,097

2,200

2,496

2,707

2,021

PetroNeft 50% share bopd

1,061

1,049

1,100

1,248

1,354

1,010

 

October 24, 2017

Operations Update – Completion of testing of S-375s well

Highlights
  • Testing of the S-375s well has been completed, confirming the productivity of the reservoir in this part of the oil field.
  • An ESP was run in the well and achieved a peak rate of 210 bopd on an 8 mm choke and a sustained rate of 150 bopd on a 4 mm choke.
  • The well has been shut in until winter roads can allow oil to be trucked to the Lineynoye processing facilities. 


September 29, 2017

H1 2017 Interim Results

Highlights

•         Gross production from Licence 61 in H1 2017 was 2,347 bopd (1,174 bopd net to PetroNeft).

•         Testing of S-375s well continuing

o    Inflow rate of 15 m3/day (94 bopd) achieved

o    Testing will continue for several weeks

    • Electric submersible pump to be installed
Click here for Interim Financial Statements

September 5, 2017

Operations Update – Drilling of S-375 well completed

Highlights
· S 375 delineation well and S-375s sidetrack well contain 4.8 m and 14.8 m respectively of net oil pay based on log and core data
· Testing contractor being mobilised to field with results expected by end September
· Reserve calculation and Development Plan being updated

July 28, 2017

Q2 2017 Production Data

PetroNeft provides an update on oil production at Licence 61 in the second quarter of 2017. 

Licence 61 Gross Production

Q2-2017

Q1-2017

Q4-2016

Q3-2016

Q2-2016

FY 2016

FY 2015

Total gross production

200,208

224,604

255,068

305,126

223,877

990,887

737,655

Gross bopd

2,200

2,496

2,772

3,317

2,460

2,707

2,021

PetroNeft 50% share bopd

1,100

1,248

1,386

1,658

1,230

1,354

1,010

 

July 20, 2017

Operations Update – Drilling of S-375 well commenced

PetroNeft (AIM: PTR) is pleased to announce that it has commenced drilling the S-375 delineation well at Sibkrayevskoye. It is expected to take up to eight weeks to drill and test the well. The S-375 well is being drilled on the northern structural lobe of the field approximately 2km south of existing wells that contained about 10m of net pay.

June 30, 2017

Final Results 2016

Highlights
• Significant success in horizontal drilling at South Arbuzovskoye although result of the 10km step-out S-374 well on Sibkrayevskoye was disappointing 
• Gross production from Licence 61 increased 35% compared to 2015:
o Gross production 990,931 barrels of oil
o Average gross production of 2,707 bopd (2015: 2,021 bopd)
o Net to PetroNeft 1,353 bopd (2015: 1,010 bopd)
• 65.0 mmbbls total proved and probable (2P) reserves net to PetroNeft

April 28, 2017

Q1 2017 Production Data

Oil production at Licence 61 in the first quarter of 2017.

Licence 61 Gross Production

Q1-2017

Q4-2016

Q3-2016

Q2-2016

Q1-2016

FY 2016

FY 2015

Total gross production

224,604

255,068

305,126

223,877

206,816

990,887

737,655

Gross bopd

2,496

2,772

3,317

2,460

2,273

2,707

2,021

PetroNeft 50% share bopd

1,248

1,386

1,658

1,230

1,136

1,354

1,010