REG - Petroneft Resources - Finance Update

Petroneft ResourcesAnnouncement

17/01/2022 07:05

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220117:nRSQ5574Ya&default-theme=true

RNS Number : 5574Y  Petroneft Resources PLC  17 January 2022

PetroNeft Resources plc

17(th) January 2022

 

PetroNeft Resources plc ('PetroNeft' or 'the Company')

 

Finance Update

 

 

PetroNeft (AIM: PTR) an oil & gas exploration and production company,
operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator
of Licence 67 and 50% owner and operator of Licence 61 provides the following
financing update.

 

Petrogrand Loan facility

On 15(th) December 2021 PetroNeft announced that it had met all contractual
obligations, including the payment of $574,430 (representing 20% of the
principal sum outstanding), and the payment of the  associated interest for
fiscal 2021.  The reduced principal amount of $2.3 million, has enabled the
Company to extend the facility by a further 12 months to 15(th) December
2022.

At the same time PetroNeft has been looking at all options to see if it would
be in shareholders' best interest to re finance the loan. After detailed
negotiations with various parties we have decided that it is in the best
interests of shareholders to continue with the facility as is. We will
continue to explore financing alternatives, with a view to securing terms and
conditions, which are in PetroNeft's Shareholders best interests.

 

 

 For further information, contact:

 David Sturt, CEO, PetroNeft Resources plc                  +44 7903 869 608
 John Frain/Ciara O'Mongain, Davy (NOMAD and                +353 1 679 6363
 Broker)
 Joe Heron/Douglas Keatinge/Joe o Kane, Murray Consultants  +353 1 498 0300

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSFUFWMEESELF