PetroNeft Resources PLC Company News

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PetroNeft Agrees 2016/17 Work Program with Oil India
Monday, March 21, 2016 PetroNeft reaches an agreement with Oil India for a budget and work program in 2016 and 2017 within license 61.

PetroNeft Sees No Sign of Oil Price Improvement, Vows to Grow Production
Tuesday, September 29, 2015 PetroNeft's Chairman, David Golder, believes "there is little sign of improvement in oil prices in the near term" and states that PetroNeft is focused on growing production in the future.

PetroNeft Brings Tungolskoye's T-503 Well in Western Siberia Online
Wednesday, July 22, 2015 PetroNeft commences oil production from Tungolskoye's T-503 well, which is located in License 61 in Western Siberia.

PetroNeft: Significant Production Growth Expected in 2015
Tuesday, June 23, 2015 PetroNeft announces in its annual results statement for 2014 that it expects a significant boost in production this year.

PetroNeft Confirms Production Flow at S-373 Appraisal Well
Friday, May 22, 2015 PetroNeft reveals that the Sibkrayevskoye No. 373 appraisal well at License 61 in Russia is flowing at a production rate of 100 barrels of oil per day.

PetroNeft Restarts Drilling Operation in Tomsk Region of Russia
Tuesday, August 19, 2014 PetroNeft says it is restarting drilling operations on Licence 61 in the Tomsk Oblast region of Russia.

PetroNeft Raises Funds for Russian Field Development
Monday, March 17, 2014 Russia-focused PetroNeft Resources raises $6.7 million to fund the delivery of supplies and equipment to its onshore field in the Tomsk Oblast.

Petroneft to Restart Drilling Ops Later in 2013
Monday, September 30, 2013 Petroneft Resources says it will restart drilling operations in Russia's Tomsk Oblast later this year on successfully refinancing its debt.

PetroNeft All Smiles over Arbuzovskoye Production Rates
Thursday, March 21, 2013 PetroNeft Resources plc, owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, provided the following update on its operations at Licence 61.

PetroNeft Successfully Completes Arbuzovskoye Well
Friday, February 08, 2013 PetroNeft reports that Arbuzovskoye well 112 on Licence 61 in Russia has been successfully completed.

PetroNeft Sees New Well Flow at Arbuzovskoye
Friday, November 23, 2012 PetroNeft Resources says that well 109 at its Arbuzovskoye oil field has begun flowing at 100 bopd.

PetroNeft Arbuzovskoye Well Flows at 540 bopd
Monday, October 22, 2012 PetroNeft Resources reports that its Arbuzovskoye well 102 has been brought into production with an initial flow rate of 540 bopd.

PetroNeft Drills First Arbuzovsjkoye Well
Monday, August 13, 2012 Western Siberia-focused PetroNeft has begun its 10-well drilling program to develop the Arbuzovskoye field.

PetroNeft to Drill First of 10 Arbuzovskoye Wells in 3Q 2012
Thursday, May 31, 2012 PetroNeft expects to add Western Siberian field's production to that already produced by its nearby Lineynoye field, while the firm also raises $15 million from a term loan.

PetroNeft 'Disappointed' by Lineynoye Well Results
Friday, February 17, 2012 "We are disappointed with the results of the Pad 2 fracture stimulation program, especially when compared to the improving Pad 1 results," said Dennis Francis.

PetroNeft Makes Headway at Russian Licenses
Tuesday, December 06, 2011 PetroNeft, the owner and operator of Licenses 61 and 67, Tomsk Oblast, Russian Federation, announced an update on its operations.

PetroNeft Makes New Oil Find at Cheremshanskaya
Wednesday, October 19, 2011 PetroNeft announced the discovery of a new oil field in License 67 at Cheremshanskaya.

PetroNeft Finds New Oil Field in License 61
Wednesday, September 21, 2011 PetroNeft announced the discovery of another new oil field in License 61 at North Varyakhskaya.

PetroNeft Discovers New Oil Field in Russia
Thursday, August 04, 2011 PetroNeft, the owner and operator of Licenses 61 and 67, Tomsk Oblast, Russian Federation, announced its largest single discovery to date, a new oil field at Sibkrayevskaya in License 61.

PetroNeft Confirms 2P Reserves in Western Siberia
Wednesday, July 06, 2011 PetroNeft announced that the Kondrashevskoye No. 2 sidetrack well has confirmed 2P reserves.

PetroNeft Spies Oil Pay at License 61
Wednesday, June 22, 2011 PetroNeft reported that preliminary log and survey data for well 336 in License 61 indicate net oil pay with an additional possible oil pay.

PetroNeft's 2011 Exploration Program to Double Reserves in Russia
Tuesday, June 07, 2011 PetroNeft's high impact 2011 exploration program, which has the potential to more than double our reserves, is targeting over 60 million barrels on three prospects in License 61.

PetroNeft Looks Ahead to 2011 Exploration
Monday, April 04, 2011 "We are pleased with the results of our nine well fracture stimulation program but we have learned from the program and feel we can improve on both the design and efficiency in our future drilling and frac programs," said Dennis Francis.

PetroNeft Ramps Up Reserves
Thursday, March 10, 2011 "We are very pleased to add quality reserves with demonstrated flow rates which will form an important element of our future development and production growth plans," said Dennis Francis.

PetroNeft to Commence Frac Stimulation Program at License 61
Wednesday, January 05, 2011 "While our well performance is good, it has been limited...However, this will be resolved by the hydraulic fracturing program and has not in any way changed our view of the reservoir quality or overall productivity of the field," said Dennis Francis.

PetroNeft Discovers New Oil Field in License 61
Tuesday, November 09, 2010 PetroNeft has discovered a new oil field at Arbuzovskaya in License 61, Russia.

PetroNeft Appoints Non-Executive Director
Thursday, September 09, 2010 PetroNeft announced the appointment of Gerard (Gerry) Fagan as an Independent Non-Executive Director of the Company.

PetroNeft Turns on Taps at License 61
Tuesday, August 24, 2010 PetroNeft reported construction of production facilities has been completed and production has gradually been commenced from four wells in License 61.

PetroNeft Completes Pipeline Testing in Russia
Wednesday, June 23, 2010 PetroNeft provided an update on its operations at Licenses 61 and 67.

PetroNeft Drills Ahead at Lineynoye Field
Tuesday, June 08, 2010 "The drilling of our production wells remains ahead of schedule and we are delighted with the well results to date," said Dennis Francis.

PetroNeft Drills 9 Production Wells at Lineynoye Field
Thursday, April 15, 2010 PetroNeft provided an update on its operations. Drilling of the first of 9 production wells at the Lineynoye oil field scheduled for 2010 has been completed. Preliminary results indicate that the results of this well are in line with expectations.

PetroNeft Spuds Ahead of Schedule at Lineynoye Field
Tuesday, March 23, 2010 "All aspects of the Lineynoye Field development project are progressing on or ahead of schedule. Spudding of our first production well was an important milestone," commented CEO of PetroNeft.

PetroNeft: Russian Pipeline Completion Slated for April
Wednesday, January 27, 2010 PetroNeft reported that pipeline construction at its Russian development is on schedule for completion in April 2010.

PetroNeft Names VP, Business Development & Operations
Wednesday, January 27, 2010 Effective January 1, Karl D. Johnson was appointed as Vice President of Business Development and Operations at PetroNeft Resources.

PetroNeft Picks Up 100% Interest in Russian Ledovy License
Friday, December 18, 2009 PetroNeft Resources, owner and operator of Licence 61, Tomsk Oblast, Russian Federation, has won the State Auction for a 100% interest in the Ledovy License No. 67 also in the Tomsk Region.

PetroNeft Inks Deal for Construction of Russian Oil Pipeline
Thursday, October 15, 2009 PetroNeft has signed a contract for the construction of a pipeline from its Lineynoye oil field to the Kiev-Eganskoye oil field.

Fund Raising Puts PetroNeft on 'Firm Footing' to Reach Production Goal
Wednesday, September 30, 2009 "The recent successes of the fund raising and the pipeline agreement have put PetroNeft on a firm footing to reach year-round production in 2010," commented PetroNeft CEO Dennis Francis.

PetroNeft Fully Funded to Reach Year-Round Production in 3Q 2010
Monday, September 21, 2009 PetroNeft, the owner and operator of License 61 in Russia, has agreed to the terms of a conditional placing, the net proceeds of which will be applied to pipeline and related infrastructural expenditure, field facilities, and drilling operations.

PetroNeft Cites Operational Success in '08, Bumps Up Russian Reserves
Thursday, June 04, 2009 "This has been another year of operational success. We have now met all our license exploration commitments, and our drilling successes have [proven] that License 61 will be a profitable producing asset for a number of years," PetroNeft's CEO said.

PetroNeft's License 61 Reserves Significantly Increase
Tuesday, February 24, 2009 PetroNeft's reserves on License 61, in the Tomsk Oblast region of the Russian Federation, has significantly increased.

PetroNeft Starts Up Winter Oil Production from 3 Russian Wells
Tuesday, February 10, 2009 PetroNeft has commenced winter oil production from the L-1, L-6 and L-7 wells in the Russian oil fields Lineynoye and West Lineynoye.

PetroNeft Confirms 5 Production Wells at Lineynoye
Tuesday, November 04, 2008 PetroNeft, owner and operator of Licence 61, Tomsk Oblast, Russian Federation, has provided an update on the re-entry and recompletion of the Lineynoye No. 1 well.

PetroNeft Slows Pace for Lineynoye Development Project
Wednesday, October 22, 2008 The Board of PetroNeft has decided to slow the pace of the Phase I Development Project, which includes the Lineynoye and West Lineynoye Fields, to allow time for further asset and capital expenditure optimization.

PetroNeft to Supply Pipeline for Lineynoye Oil Field, License 61
Tuesday, July 29, 2008 PetroNeft, owner and operator of License 61, has signed an agreement with CJSC "Karos" to supply pipe for the planned, 60km export pipeline from the Lineynoye oil field to the Bashneft Lukpaiskaya custody transfer point, northwest of License 61.

PetroNeft Raises $17.3MM to Construct New Pipeline
Friday, July 18, 2008 PetroNeft agreed to the terms of a conditional placing of 34,527,141 new Ordinary Shares at Stg0.25 per Ordinary Share, raising gross proceeds of approximately US $17.3 million, which will be used to fund construction of a new pipeline.

PetroNeft Enters Agreement with US Bank for $80MM Debt Facility
Wednesday, July 09, 2008 PetroNeft has entered into a US mandate agreement with Standard Bank for a US $80 million debt facility to finance PetroNeft's development activities within License 61, Tomsk Oblast, Russian Federation.

PetroNeft Releases 2007 Reports
Monday, June 30, 2008 PetroNeft has released its end-of-the-year reports from 2007. Among other highlights are the drilling of five new wells, all of which are oil bearing, and an expanding shareholder base.

PetroNeft Drills Successfully, Moves Forward with Development Program
Thursday, June 26, 2008 There was a new oil discovery on Korchegskaya and also a successful delineation well on West Lineynoye, which led PetroNeft to sanction the development of the Lineynoye and West Lineynoye oilfields and a phased plan of development for production.

Petroneft Spuds Korchegskaya No. 1 Well in Russia
Wednesday, March 05, 2008 Drilling has commenced on the No. 1 well on the Korchegskaya Prospect on schedule. Estimates of the prospect top 36 million barrels of possible reserves.

PetroNeft Increases Russian Reserves by 81%
Tuesday, February 19, 2008 Following the successful exploration and appraisal program undertaken in Licence 61 during 2007, PetroNeft's net proved and probable (2P) oil reserves as of Jan. 1, 2008 increased by 81% to 60.6 million barrels.