This looks a very good bet? Mentioned in the share magazine.

Finance arranged - $80m - Road block removed.

Yes oilwatch...this is starting to tick all the right boxes....things are moving quickly....sp is a bit slower....this should be double what it is now !.

Funding completed....no doubt this will come right....4000 barrels per day in a year....climbing to a possible 14000 in 2012...reminds me in production figures of Emerald Energy.....they are not there yet (in market cap) size, but the signs are there.The next step will be to bid for another licence....PTR will come right in time...for me : good one to tuck away...shame the market doesn't push the sp up...but it will in time !.

More good news....when on earth will this ridiculous market recognize this stock ?.....there is seldom any bad news ever here....and yet the sp will not climb...next year this will be a mid-cap aim oil producer and nobody wants to know !.

Another good deal by PTR...this has just got to go higher !.

Chart indicates a breakout for ptr and monday stipulates this action is evident for ptr.40p.

5 producing wells now....and more to come...the Russian Nighthawk !.

Very good news and the SP has reacted accordingly so far today.

Due for a rebound, project back on track soon with rising crude ? Rns coming ?, if oil rises above $50, I would like to think so. !

Wakey..wakey !...660 barrels per day and rising and directors buying....!.

Is a transfer from father to son a big deal????

No, but the father bought them !.

This stock i s starting to interest me,valued at 43 and with 70m P2 reserves.
Now 43m*1.6534= $71m,so $1bo, i would normally expecr a min of $2bo from
this part of the world and with 10mbo P1 along with 660bopd production(sold locally so maybe $20/30bo?)it looks quite a investable opportunity and a brokers note just out stating 41p.
In less than 12 months a pipeline will have been constructed and 11wells drilled
giving a possible 4000bopd? I need to find out what taxes are due and debt but at 1st glance an excellent company,probably take a small position to start.
cyril

Nice graph....really steady upward trend....I'm still at a loss but will stay put for the next year...

well i agree with noc and what with some big shot - whose name escapes me- freshly on board )pun unintended) i bought a few at 22/23p along with some mxp ..Strong chart-10,30 and 100 day ema of 22.4 , 21.41 and 19.65 illustrate its in upward trend .

nice move upwards today on the back of spudding news, sp target 40p.

Excellent news


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

Operations Update

Positive result from first three production wells, pipeline complete and
awaiting final testing

PetroNeft Resources plc (AIM: PTR) owner and operator of Licences 61 and 67,
Tomsk Oblast, Russian Federation, is pleased to provide an update on its
operations.

Highlights:

First three production wells successfully drilled

Pipeline construction complete, testing imminent

Construction of production facilities on schedule

Arbuzovskaya exploration well site preparations nearing completion

Development Drilling
Drilling of the first three of nine production wells at the Lineynoye oil field
planned for 2010 have now been completed ahead of schedule. Preliminary log and
survey data indicate that the results of these wells are in line with
expectations:

+------+----------------+----------------+--------+----------------+
| Well | Top of | Gross | Net | Comments |
| No. | reservoir | hydrocarbon | oil | |
| | vertical depth | interval | pay | |
| | subsea metres | metres | metres | |
+------+----------------+----------------+--------+----------------+
| | | | | Interval is |
| 109 | 2,392 | 14.0 | 10.2 | completely |
| | | | | saturated with |
| | | | | oil. |
+------+----------------+----------------+--------+----------------+
| 110 | 2,395 | 13.0 | 8.9 | Interval is |
| | | | | completely |
| | | | | saturated with |
| | | | | oil, bottom |
| | | | | 2.7m appears |
| | | | | to be tight |
| | | | | reservoir. |
+------+----------------+----------------+--------+----------------+
| | | | | Interval is |
| 112 | 2,401 | 16.2 | 12.0 | completely |
| | | | | saturated with |
| | | | | oil. |
+------+----------------+----------------+--------+----------------+


The wells penetrated the top of the reservoir 5 to 8 metres higher than
prognosis. The field wide oil-down-to in the reservoir is at 2,430 metres true
vertical depth which is well below the oil-down-to in any of the production
wells drilled thus far. This relationship will help the future production
performance of the wells.
Production casing has been run in the wells and successfully cemented. The
drilling rig has been moved along its rails and the fourth well, No. 113, has
been spudded. A work-over rig has begun the process of perforating and
installing electrical submersible pumps in wells 109, 110 and 112. Well No. 111
will be the final well drilled in the 2010 programme as an operational decision
was made to re-order the drilling of wells.

Pipeline Construction
Construction of the 60km export pipeline from the Lineynoye field to the
Kiev-Eganskoye field is complete. The pressure and hydro testing of the pipeline
will commence later this month following which the pipeline will be ready to
receive first oil production on schedule in the third quarter of 2010.

Production Facilities
Construction of production facilities continues and is on schedule to be
completed for first oil production in the third quarter of 2010.

Arbuzovskaya Exploration Well
Rig-up operations for the Arbuzovskaya exploration well are over 80% complete
and drilling is scheduled to commence in October after the nine well production
drilling programme has been completed. This is the first of at least three
exploration/delineation wells to be drilled in the northern part of Licence 61
in 2010 and 2011. This programme has the potential to materially increase both
Group reserves and the long term production potential of Licence 61.

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

"The drilling of our production wells remains ahead of schedule and we are
delighted with the well results to date. Pipeline testing is due to commence in
the coming weeks and construction of production facilities continues at pace. We
look forward to achieving first production in the third quarter and our year-end
production target of 4,000 bopd"
curil

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