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/

3.45p +0.20p

The bounce after retracement goes on today on higher volume once again
Looking at the chart, clearly show rising with volume and dropping with hardly any volume

The Arctic Tiger starting to roar alright for the last couple days 3.60p at the moment, but was higher earlier

Following the bullish 11th September RNS this should see PTR recover back to previous higher levels from here if this can move above the 200ma at 4.15p

Yet another strong move up this morning now 4p with volume on hald day gone is already higher than yesterday

According to the sources close to the company the undisclosed Asian oil and gas producer submitted the non-binding indicative offer to PetroNeft Resources plc (PTR:LI) regarding its willingness to acquire 50% equity shareholding in licence 61 (via a number of PetroNeft subsidiaries, Worldace Investments Ltd. and Stimul-T OOO). Licence 61 issued by the Government of Russia allows PetroNeft to explore the sub-soil area in Tomsk region of Russia. The Asian O&G company offered the full repayment of USD 14 million Macquarie loan (payable in 2014) and USD 30 million development Capex for Licence 61.

The announcement is fully in line with Dennis Francis (CEO of PetroNeft Resources plc) recent comments: "We have made good progress on the re-financing and farm-out fronts in the last month. We appreciate shareholders continued patience and support while these negotiations are completed. The successful completion of either of these objectives will enable us to recommence our drilling programme and return to building production."

Research analysts see the news as highly positive for PetroNeft as licence 61 farm-out is crucial not only for further development but also for the financial security of PetroNeft. The recent share price dynamics supports the positive shifts on PetroNeft's re-financing and licence 61 farm-out.

http://www.vedomosti.ru/companies/news/14353471/nenazvannaya-aziatskaya-neftegazovaya-kompaniya-zainteresovalas-petroneftyu..