LONDON (Alliance News) - Petroneft Resources PLC said Wednesday it has in talks to extend and increase a previously agreed USD2 million loan with Swedish company Petrogrand AB.
The Russia focused oil and gas exploration company entered into the USD2 million loan in January 2018 with Petrogrand, secured on the assets of Petroneft. The loan facility, which was fully drawn down and was used to finance the drilling of the successful C-4 well, matured on December 31.
Shares in Petroneft were untraded at 1.375 pence each.
