Petroneft Resources PLC Production Update (1104W)

TIDMPTR

RNS Number : 1104W

Petroneft Resources PLC

10 November 2017

10 November 2017

PetroNeft Resources plc

("PetroNeft" or the "Group" or the "Company")

Quarterly Production Update

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

 
 Licence 61                                                       FY        FY 
  Gross Production    Oct-17   Q3-2017   Q2-2017   Q1-2017      2016      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 
-------------------  -------  --------  --------  --------  --------  -------- 
 

The production for the full fourth quarter of 2017 will be announced in January 2018.

For further information, contact:

 
 Dennis Francis, CEO, PetroNeft Resources    +1 713 988 
  plc                                              2500 
 Paul Dowling, CFO, PetroNeft Resources      +353 1 647 
  plc                                              0280 
 John Frain/Brian Garrahy, Davy (NOMAD       +353 1 679 
  and Joint Broker)                                6363 
 Henry Fitzgerald-O'Connor, Canaccord           +44 207 
  Genuity Limited (Joint Broker)               523 8000 
                                             +353 1 498 
 Joe Heron / Douglas Keatinge, Murray              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.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 10, 2017 02:00 ET (07:00 GMT)