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/

RNS Number : 7420T
Petroneft Resources PLC
18 December 2012

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 at Licence 61.



Highlights:

·Arbuzovskoye well 111 successfully completed and put into production

·Initial oil flow rate of 150 bopd

·No water production associated with the well

·Well 112 currently drilling ahead targeting highest flow eastern side of field

·Total production running at 2,800 bopd with 3 producing wells off line for remedial work on pumps



Licence 61 - Arbuzovskoye Pilot Development Programme

Arbuzovskoye well 111, the fourth of ten planned new production wells on the Arbuzovskoye oil field, has been successfully completed and brought into production at an initial rate of 150 bopd with no visible water cut.

Arbuzovskoye well 112, the next well in the drilling sequence, is currently drilling ahead. This well is located on the eastern side of the field where, to date, we have experienced higher flow rates. Overall, the average production rate for the first four wells in the programme continues to exceed initial targets.

Arbuzovskoye contains 2P reserves in excess of 13 million barrels of oil according to independent reserve auditors Ryder Scott and is the Company's second production development.



Licence 61 - Production

Total oil production, comprising both the Lineynoye and Arbuzovskoye oil fields is currently 2,800 bopd up from 2,500 bopd in late November. The rate is reduced due to 3 wells at the Lineynoye oil field being currently off-line while remedial work is carried out on the down-hole pumps. The Company had expected these wells to be back online before the year end however the weather conditions at the field continue to be extremely cold (as low as -47⁰C) which has slowed the workover and completion process. They are expected to be back online by mid-January 2013.



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."

HAPPY XMAS TO ALL PTR HOLDERS :-)


Newsflow expected by mid jan is result of WELL-112* situated in the high flow zones
and also the three wells taken offline to replace down hole pumps back online.

Possible that another 700-800 bopd will be added to the current 2800 bopd.

PTR look a very good punt for 2013

Two buys of 2m shares today for £118k each

Update is on way ?

Nearly £250k in just two trades here today,i may have to take another look at this!

PTR should be updating next week on well 112 and the three well repairs,i predict a very nice bounce coming here.

mikel

Looking at the time schedules on the last 4 or 5 wells if it follows the same pattern they should RNS by wednesday next week.Grabbed a few more today :-)

jazz i think they will put an update out this week coming and should cover the
latest drill at well 112 and also the three remedial repairs on the wells taken
offline before xmas.

Around 3250 bopd would be nice!

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 :-}