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PTR Petroneft Resources Plc

0.085
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petroneft Resources Plc LSE:PTR London Ordinary Share IE00B0Q82B24 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.085 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Petroneft Resources PLC Quarterly Production Update (8590C)

25/01/2018 7:00am

UK Regulatory


Petroneft Resources (LSE:PTR)
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RNS Number : 8590C

Petroneft Resources PLC

25 January 2018

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 fourth quarter of 2017.

 
 Licence 61                                                        FY        FY        FY 
  Gross Production    Q4-2017   Q3-2017   Q2-2017   Q1-2017      2017      2016      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 
-------------------  --------  --------  --------  --------  --------  --------  -------- 
 

Winter production from Sibkrayevskoye oil field commenced in mid December 2017 and therefore will primarily impact Q1-2018 production. Production in 2017 has benefited from the continuing good performance of the Arbuzovskoye Pad 2 horizontal wells.

The production for the first quarter of 2018 will be announced in April 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

END

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(END) Dow Jones Newswires

January 25, 2018 02:00 ET (07:00 GMT)

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