Petroneft Resources, the Russia-focused oil and gas producer, has announced it will recommence drilling operations following the completion of the Licence 61 farm-out to Oil India in July. The company said in a statement that it has established a joint venture with Oil India and that budgets and ma
Read moreRussian oil group PetroNeft Resources has completed its License 61 farm-out to Oil India, leaving it with "significant further funds" to strengthen the company. Under the terms of the agreement Oil India now owns 50% of the license in return for a total investment of up to $85m. The investment is
Read moreLONDON (Alliance News) - PetroNeft Resources PLC said Thursday that it had inked a farmout agreement with Oil India Ltd for a 50% interest in its Licence 61 at Tomsk Oblast, Russia. Oil India Ltd will invest USD85 million, including a USD35 million upfront cash payment, USD45 million in exp
Read moreThe legal documentation and due diligence required for the farm-out of a 50 per cent interest in licence 61 has been completed, PetroNeft reported on Tuesday. The AIM-listed oil and gas firm said it expects to sign binding legal agreements within the next week. The licence is located at Tomsk Ob
Read moreLONDON (Alliance News) - PetroNeft Resources PLC Tuesday said it expects to execute binding legal agreements within the next week for its its 50% interest in Licence 61 after completing all legal documentation and due diligence. The gas concession is located in the Tomsk Oblast in the Weste
Read moreLONDON (Alliance News) - Petroneft Resources PLC Tuesday said it has received a proposal from Natlata Partners to call an extraordinary general meeting over board and strategy changes. The Russian oil production company said it previously received a single written financing proposal from Na
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