News


August 31, 2016

Drilling and Operations Update

Sibkrayevskoye Well S-374 - Vertical Delineation Well

· Two tight sandstone reservoirs encountered in the J1-2 interval

· Well tested water with no hydrocarbons present

Well will be plugged and abandoned

July 21, 2016

Operations Update

Highlights

Fourth successful well drilled at South Arbuzovskoye

Further increases to record production levels

Production

· Current gross production from Licence 61 increased to about 3,700 bopd (1,850 bopd net to PetroNeft)

· Increase due to new A-216 well at Arbuzovskoye

This is a new record high production for the Licence area, improving further the levels reported at the beginning of the month

July 5, 2016

Operations Update

Highlights

Third successful well drilled at South Arbuzovskoye

Fourth well added as follow-up

Record production achieved

Production

· Current gross production from Licence 61 increased to about 3,500 bopd (1,750 bopd net to PetroNeft).

· Increase due to three strongly performing new wells at Arbuzovskoye.

· This is the all-time record high production for the Licence area.

June 23, 2016

Final results 2015

Highlights

· Gross production 737,655 barrels of oil from Licence 61 in 2015

o Average gross production of 2,021 bopd

o Current gross production about 3,000 bopd

· 11 Wells drilled in 2015

· 1,000 km of 2D seismic acquired at Licence 61 in 2015

· 65.5 mmbbls total 2P reserves net to PetroNeft

Outlook

· Further production increases likely from South Arbuzovskoye

· Drilling at Sibkrayevskoye No. 374 due to commence in July 2016 – potential for material increase in reserves

Active, fully funded work programme planned at Licence 61 in 2016 and 2017

June 2, 2016

Operations Update

Production

· Current gross production from Licence 61 is about 3,000 bopd (1,500 bopd net to PetroNeft).

Arbuzovskoye Well A-214 Horizontal Production

· Successful drilling of 1,000 m horizontal section with bottom hole at 4,008 m MD.

· Evaluation of pipe conveyed logs indicate 931 m of horizontal section is net pay.

· Current rate of production is 800 bopd with less than 5% water.

April 25, 2016

Agreement with Natlata

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 and Natlata Partners Limited, PetroNeft’s largest shareholder are pleased to announce they have reached an agreement on a new Board composition and structure. Accordingly, Natlata has agreed to withdraw all of its resolutions due to be considered at the reconvened EGM due to take place at 11 a.m. today.

April 18, 2016

Adjournment of today’s Extraordinary General Meeting ("EGM")

PetroNeft is pleased to announce that it is in advanced discussions with Natlata Partners Limited (“Natlata”) in relation to a comprehensive agreement on Board and management composition. To allow time to finalise and implement the necessary agreements, both parties agreed to adjourn todays EGM, which had been requisitioned by Natlata, until 11 AM on Monday 25 April 2016. The re-convened EGM will be held at the same venue, the Herbert Park Hotel, Ballsbridge, Dublin 4, Ireland.

April 5, 2016

ISS recommends vote AGAINST ALL Natlata EGM Resolutions

The ISS report supports the view of the Board set out in the EGM Circular dated 18 March 2016 that Shareholders should vote AGAINST ALL the resolutions.

March 23, 2016

Execution of Oil India Loan

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 announce that the legal documentation for the first tranche of the proposed US$35m financing for Licence 61 to be provided by Oil India has now been executed. The first tranche relates to the 2016 funding requirement of US$10m. The funding is provided by way of an unsecured loan from Oil India to WorldAce Investments Limited, the joint venture company that ultimately owns Licence 61. Principal repayments will commence in Q4 2019.

March 21, 2016

2016/2017 Work programme

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 announce that it has reached agreement with Oil India, its partner on license 61, for a budget and major work programme for 2016 and 2017.

March 21, 2016

EGM Requisition and Publication of Circular

As previously announced PetroNeft has received a notice requisitioning an Extraordinary General Meeting ("EGM") of the Company from Natlata Partners Limited ("Natlata"), a company registered under the laws of the British Virgin Islands. PetroNeft announces that it has posted a circular to its Shareholders to convene this EGM, which is to be held at 11.00 a.m. at the Herbert Park Hotel, Ballsbridge, Dublin 4, Ireland on Monday 18 April 2016.

January 7, 2016

Director Shareholdings

PetroNeft received notification on 6 January 2016 that Dennis Francis acquired an additional 1,500,000 ordinary shares bringing his total holding to 25,890,416 (3.66%).

December 31, 2015

Director Shareholdings

PetroNeft received notification on 30 December 2015 that Dennis Francis acquired an additional 630,000 ordinary shares bringing his total holding to 24,390,416 (3.45%).

December 14, 2015

Operations Update

Tungolskoye

• T-501 and T-505 horizontal wells drilled. Logs suggest both to have better quality oil pay than earlier wells. Workovers in progress to improve initial flow rates.

• T-509 vertical injector well drilled. Potential for oil production before conversion to be tested.

Arbuzovskoye

· Workover programme to increase production is planned for January 2016.

· Southern portion development progressing with well pad currently under construction.

· Significant field reserve upgrade anticipated based on new well and seismic data.

Sibkrayevskoye Reserves

· Oil in Place estimates upgraded based on new seismic data; 2P reserves expected to increase significantly.

September 29, 2015

Interim Results H1 2015

Highlights

• 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.

September 18, 2015

Retirement of Director

Vakha Sobraliev, Non-Executive Director, has decided to retire from his position, effective from the conclusion of the AGM held earlier today, in order to concentrate on his other business interests.

September 10, 2015

Operations Update

Highlights

Tungolskoye

• T-502 horizontal well brought on line at sustained rate of over 450 bopd.

• T-503 horizontal well currently producing at around 400 bopd.

T-507 control well and water injector spudded on 25 August.

August 12, 2015

Operations Update

Highlights

West Lineynoye

• L-10 horizontal well brought online at a sustained rate of 230 bopd.

• L-10 result confirms short segment horizontal drilling greatly increases flow rates.

Tungolskoye

• T-503 horizontal well continues to produce at a sustained rate of over 500 bopd.

• T-502 horizontal segment drilling in progress.

• T-508 control well and water injector drilled in 17 days.

Production

• Current gross production from Licence 61 is about 2,600 bopd.

Represents a 41% increase in production thus far this year.

July 22, 2015

Operations Update

Tungolskoye

• T-503 horizontal well brought online at sustained rate of over 550 bopd.

• Latest test rate was 675 bopd.

Sibkrayevskoye

• Processing and interpretation of 1,000 km of high quality 2D seismic underway.

• Early indications suggest that the Sibkrayevskoye structure is larger than previously understood.

June 30, 2015

2014 Annual Report

The Company's Annual Report and Accounts for the year ended 31 December 2014 and Notice of AGM has been posted to shareholders today.