Petroneft Resources: 1H Results – Average Production of 2,163 bopd

PetroNeft Resources plc owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to report its results for the 6 months ended 30 June 2014.

Highlights:
• H1 production average of 2,163 bopd.
• Farmout of Licence 61 to Oil India completed, Company is now debt-free.
• Drilling underway at Tungolskoye and Arbuzovskoye.

Click here to view the Interim Results

David Golder, Chairman of PetroNeft Resources plc, commented:
“The first half of 2014 was a turning point for the Company. The farmout of Licence 61 was agreed with Oil India which lead to the repayment of all debt and the re-commencement of drilling at Licence 61.

Drilling is now underway at both Tungolskoye and Arbuzovskoye and I look forward to providing further updates on these activities in the near future.”