REG - Petroneft Resources - Quarterly Production Update <Origin Href="QuoteRef">PTR.I</Origin>

Petroneft ResourcesAnnouncement

25/01/2018 07:05

RNS Number : 8590C
Petroneft Resources PLC
25 January 2018
PetroNeft Resources plc
("PetroNeft" or the "Group" or the "Company")
Quarterly Production Update
PetroNeft (AIM: PTR) an oil & 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 in the fourth quarter of 2017.
Licence 61 Gross Production
Q4-2017
Q3-2017
Q2-2017
Q1-2017
FY 2017
FY 2016
FY 2015
Total gross production
198,708
192,956
200,208
224,604
816,476
990,887
737,655
Gross bopd
2,160
2,097
2,200
2,496
2,237
2,707
2,021
PetroNeft 50% share bopd
1,080
1,049
1,100
1,248
1,118
1,354
1,010
Winter production from Sibkrayevskoye oil field commenced in mid December 2017 and therefore will primarily impact Q1-2018 production. Production in 2017 has benefited from the continuing good performance of the Arbuzovskoye Pad 2 horizontal wells. 
The production for the first quarter of 2018 will be announced in April 2018.
For further information, 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.

This information is provided by RNS
The company news service from the London Stock Exchange
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