PetroNeft: Licence 61 Farmout Update
PetroNeft owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, announced an update on the negotiation of the farmout agreement for a 50% interest in Licence 61 (the “Licence 61 Farmout”).
All legal documentation and due diligence is now complete and the Company expects to execute binding legal agreements within the next week.
Macquarie Bank Limited have been advised of this timetable. Shareholders will be updated fully once the agreements are signed.
