26 Apr 2018 07:00
26 April 2018
PetroNeft Resources plc
("PetroNeft" or the "Group" or the "Company")
Quarterly Production Update
PetroNeft (AIM: PTR), an oil and gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, provides an update on oil production at Licence 61 for the first quarter of 2018.
Licence 61 Gross Production | Q1-2018 | Q4-2017 | Q3-2017 | Q2-2017 | Q1-2017 | FY 2017 | FY 2016 | FY 2015 |
Total gross production | 203,114 | 198,708 | 192,956 | 200,208 | 224,604 | 816,476 | 990,887 | 737,655 |
Gross bopd | 2,257 | 2,160 | 2,097 | 2,200 | 2,496 | 2,237 | 2,707 | 2,021 |
PetroNeft 50% share bopd | 1,128 | 1,080 | 1,049 | 1,100 | 1,248 | 1,118 | 1,354 | 1,010 |
First quarter production includes oil being trucked from the Sibkrayevskoye oil field on winter roads, which commenced in December 2017. These trucking operations from Sibkrayevskoye will continue until roughly the end of April.
The production for the second quarter of 2018 will be announced in July 2018.
ENDS
For further information, please contact:
Dennis Francis, CEO, PetroNeft Resources plc | +1 713 988 2500 |
Paul Dowling, CFO, PetroNeft Resources plc | +353 1 647 0280 |
John Frain/Brian Garrahy, Davy (NOMAD and Joint Broker) | +353 1 679 6363 |
Henry Fitzgerald-O'Connor, Canaccord Genuity Limited (Joint Broker) | +44 207 523 8000 |
Joe Heron / Douglas Keatinge, Murray | +353 1 498 0300 |
The information contained in this announcement has been reviewed and verified by Mr. Dennis Francis, Director and Chief Executive Officer of PetroNeft, for the purposes of the Guidance Note for Mining and Oil & Gas Companies issued by the London Stock Exchange in June 2009. Mr. Francis holds a B.S. Degree in Geophysical Engineering and a M.S. Degree in Geology from the Colorado School of Mines. He has also graduated from the Harvard University Program for Management Development. He is a member of the American Association of Petroleum Geologists and the Society of Exploration Geophysicists. He has over 40 years' experience in oil and gas exploration and development.