PetroNeft Resources Public Limited Company is a public company registered in Ireland (Company number 408101). Its registered office address is PetroNeft Resources plc, 20 Holles Street, Dublin 2, Ireland. The Company was established to develop oil assets in the Tomsk Oblast in Western Siberia and was admitted to the London AIM and Dublin ESM Markets on 27th September 2006.

The main assets of the Company are a 100% interest in a 4,991 km2 oil and gas licence (Licence 61) in the Tomsk Oblast in Russia, held through its wholly owned Russian subsidiary, Stimul-T and a 50% operating interest in a 2,447 km2 oil and gas licence (Licence 67) also located in the Tomsk Oblast. Both licences are located in the prolific Western Siberian Oil and Gas Basin. Licence 61 contains seven known oil fields, Lineynoye, Tungolskoye, West Lineynoye, Kondrashevskoye, Arbuzovskoye, Sibkrayevskoye and North Varyakhskoye and over 25 Prospects and Leads that are currently being explored. Licence 67 contains the Ledovoye and Cheremshanskoye oil fields and numerous prospects and leads.

News

http://petroneft.com/news/2012/

Article on stockopedia today mikel



Petroneft Resources Plc - Now Looking an attractive Investment ?


Sunday, Jan 27 2013

Petroneft have had mixed fortunes over the last few years but there are signs that the company are back on track and are now trading at attractive multiples to new investors.2012 proved to be a good year for the company in terms of putting the groundwork in on its key assets in Siberia and are now steadily stepping out production, which was stated in the last company update on the 18th december 2012 as being 2800 Bopd * .

Petronefts key assets are located in the Russian state of Siberia and comprise of Licence 61 and Licence 67 both of which have large booked reserves,and also hefty contingent resources which the company are starting to exploit.Internal company estimates suggest that each of their operated fields could contain many many multiples of the current booked reserves data. Petroneft also have an advantage in terms as operator and enjoy a relative low cost per well development platform.

The key factor that makes Petroneft an attractive investment right now is the company,s ability to self fund its own development plans whilst also paying down its modest debt position.Alongside an anticipated major reserves upgrade once the next few wells have been put on production.

The company are currently drilling / testing Well No 112 at its Arbuzovskoye field, following on from a solid run of successes on the acreage where production output has been steadily growing. Results are now due from Well 112 which is located on the highest flow eastern side of field alongside news of the three producing wells taken offline at the end of last year for remedial work on pumps, and are due back online before the end of january.

Well 112 is the fifth development well on the field with a further five wells planned and funded for through 2013,and the company are targetting a steady daily ouput of 5000 barrels or more during the course of the next 12 - 16 months.



RNS - 18 December 2012

Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented:

"We are pleased with the initial flow rate on well 111 and the fact that there is no water production associated with the well. We continue to expand our understanding of the field and are now drilling well 112 on the eastern side of the field where we have seen the highest flow rates to date. The operational challenges and variation in results are as expected. We look forward to completing further wells in Arbuzovskoye over the coming months as we continue to focus on materially increasing our production profile and cash flows."

jazz T,

Has been a while since ptr had any media coverage and news on well 112 is now due :-)Lots of positive stuff going on at petroneft at moment for sure.

Another day goes by and one day closer to news,i am expecting a very tidy bounce up
when they update on well 112 and the three remedial well repairs.

20p on the cards this year IMVHO

Mikel, i thought that was a great article on PTR

jazz T there has been a marked increase in volume here today and have a hunch an Rns is coming.Keep an eye on the newswires!

mikel,yes i just been looking through trade data and also noticed a series of
big buys again all round the same price.Been going on for a few weeks now
and im starting to think something very big is going on behind the scenes.

More lively volume today,must be some whiff of that news due ?

jazz,i have a feeling that things will be hotting up here very soon,have been reading up further today and think not only a production update is due but also some corporate news on a farm out.Will be watching the newswires for sure.

mikel / jazz

I think they may put an Rns out shortly in form of production update and could be
positive going by recent success on the field.Davy made some interesting comments
after the last one.


http://www.davy.ie/LR?id=7514

Petroneft (PTR LN)

Update reports 150 b/d from latest well on Arbuzovskoye Field

18 December 2012


FACTS: Petroneft has reported that well 111, completed on the Arbuzovskoye field in Licence 61, has flowed with an initial production rate of 150 b/d with no water production. Well 112, the fifth development well on the field, has commenced. Total production from the licence is now 2,800 b/d. The operations are located in the Tomsk region in western Siberia.

ANALYSIS: The flow rate from well 111 is comfortably within the level required to meet the production targets set by the Group. Field production rates of 2,800 b/d do not include three wells on the Linenoye Field which are currently offline. Bringing these wells back on line was planned to be achieved before the year-end, but particularly inclement weather has held back workovers and pump replacement. These three wells are likely to account for in the order of 150 b/d of production, suggesting that Licence 61 capacity is now close to 3,000 b/d. The reported level of 2,800 b/d compares to 2,500 b/d output in late November, the last update.

The next well in the programme is now underway. Well 112 is located in the productive eastern part of the field (between wells 101 and 102) and will be the fifth development well on the field.

DAVY VIEW: Today's news is positive for Petroneft. Following the recent funding, the group’s priority is now to steadily build out production. This funding allowed material inroads into group debt to be made ($7.5m was repaid) and put in a re-scheduled repayment plan. So far, the combined well results are in line with requirements and expectations to meet this programme. More generally, the build out of production indicates that the underlying business plan for Petroneft's Licence 61 is back on track. We value the group at 23p per share.

square miler,there is certainly a exciting period of newsflow upon us !

A mention in small cap news today


http://www.smallcapnews.co.uk/2013/02/wells-to-watch-in-february-2/

PetroNeft Resources (LON:PTR) should update shareholders on the 112 well on the Arbuzovskoe Field in Tomsk Oblast, Russian Federation. The well is located on the eastern side of the field where, to date, PetroNeft has experienced higher flow rates. Investors will also be keen to hear if three wells that have been offline for remedial works to pumps have been put back into production.

Thanks jazz and good find

An exciting month ahead here with multiple news due

Hi guys i put a nice chunk of these in my SIPP friday :-}

Hello davyboy that may just be a wise move.

hey mikel,i only have one other stock in my sipp among all i own and that is now
316% up since this time last year.I think this may do same if not better.

More loading up today by someone!

hello davyboy,i have a target price here of 20p - 25p which could come this year IMO

a couple of very chunky buys this morning!

More stock for me today here,something about to kick off here i feel.

DYOR

There are rumours on various bb,s that ROMAN ABRAMOVICH could be taking over
petroneft,not really sure what to make of it except i remember roman was interviewed
on i think business news europe before xmas and he said he was looking for O&G assets
in siberia.Might sound wild but ptr would be a super buy for someone with cash and
connections like him.

Watch this space,if true this will go into orbit.

Great story, keep up the great ramping, some lemmings may buy it!