Farmout Update

Petroneft Resources

15/04/2014 07:00

RNS Number : 8115E

Petroneft Resources PLC

15 April 2014

 

15 April 2014

 

PetroNeft Resources plc

("PetroNeft" or the "Group" or the "Company")

 

Licence 61 Farmout Update

 

PetroNeft (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to announce an update on the negotiation of the farmout agreement for a 50% interest in Licence 61 (the "Licence 61 Farmout").

 

All legal documentation and due diligence is now complete and the Company expects to execute binding legal agreements within the next week. Macquarie Bank Limited have been advised of this timetable. Shareholders will be updated fully once the agreements are signed.

 

 

For further information, contact:

Dennis Francis, CEO, PetroNeft Resources plc
+353 1 443 3720
Paul Dowling, CFO, PetroNeft Resources plc
+353 1 443 3720
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
Martin Jackson / Shabnam Bashir, Citigate Dewe Rogerson
+44 207 638 9571
Joe Murray/Joe Heron, Murray Consultants
+353 1 498 0300

 

This information is provided by RNS

The company news service from the London Stock Exchange

 
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