Quarterly Production Update

RNS Number : 2768M

Petroneft Resources PLC

12 October 2016

 

12 October 2016

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 2016.

Licence 61 Gross Production	Q3-2016	Q2-2016	Q1-2016	Q1-Q3 2016	Q1-Q3 2015
Total gross production	305,126	223,877	206,816	735,819	519,785
Gross bopd	3,317	2,460	2,273	2,685	1,904
PetroNeft 50% share bopd	1,658	1,230	1,136	1,343	952

The production for the fourth quarter of 2016 will be announced in January 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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