Petroneft Resources PLC Quarterly Production Update (2640X)

TIDMPTR

RNS Number : 2640X

Petroneft Resources PLC

09 August 2018

9 August 2018

PetroNeft Resources plc

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

Quarterly Production Update

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, provides an update on 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 
                          --------  --------  --------  --------  --------  --------  --------  -------- 
 

Second quarter production includes oil being trucked from the Sibkrayevskoye oil field on winter roads, which ceased in late April.

ENDS

For further information, please contact:

 
                                                          +1 713 988 
 Dennis Francis, CEO, PetroNeft Resources plc                   2500 
                                                          +353 1 647 
 Paul Dowling, CFO, PetroNeft Resources plc                     0280 
 John Frain/Brian Garrahy, Davy (NOMAD and Joint          +353 1 679 
  Broker)                                                       6363 
 Henry Fitzgerald-O'Connor, Canaccord Genuity Limited    [phone] 
  (Joint Broker)                                                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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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August 09, 2018 02:00 ET (06:00 GMT)