PetroNeft: H1 2017 Interim Results

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 is pleased to report its results for the 6 months ended 30 June 2017.

Highlights

• Gross production from Licence 61 in H1 2017 was 2,347 bopd (1,174 bopd net to PetroNeft).
• Testing of S-375s well continuing
  – Inflow rate of 15 m3/day (94 bopd) achieved
  – Testing will continue for several weeks
  – Electric submersible pump to be installed

  Click here for H1 2017 Financial Statements

  David Golder, Chairman of PetroNeft Resources plc, commented: “The first part of the year has seen encouraging results so far from the S-375s well and testing is continuing. We are also actively looking at business development opportunities and are in detailed discussions in relation to same. We will update shareholders on this at the appropriate time.”