Quarterly Production Update

RNS Number : 6229D

Petroneft Resources PLC

28 April 2017

 

28 April 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 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

The production for the second quarter of 2017 will be announced in July 2017.

For further information, contact:

Dennis Francis, CEO, PetroNeft Resources plc	[phone]
Paul Dowling, CFO, PetroNeft Resources plc	[phone]
John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker)	[phone]
Henry Fitzgerald-O'Connor, Canaccord Genuity Limited (Joint Broker)	[phone]
Martin Jackson/Shabnam Bashir, Citigate Dewe Rogerson	[phone]
Joe Heron / Douglas Keatinge, Murray	[phone]

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.

 

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