PetroNeft issues restriction notice to shareholder Natlata
5th Apr 2016 15:18
(ShareCast News) - A growing spat between PetroNeft Resources and shareholder Natlata Partners led to a restriction notice issued from the former to the latter on Tuesday. Early in the day, Natlata Partners said it had received a restriction notice that would bar its from attending, speaking or voti
Read morePetroNeft agrees first tranche of funding with Oil India
23rd Mar 2016 14:33
(ShareCast News) - Russian oil and gas explorer PetroNeft said it had executed the first tranche of a $35m loan from Oil India to start a work programme in western Siberia. It said the first tranche was an unsecured loan of $10m. Principal repayments will commence in the fourth quarter of 2019. "Th
Read moreDirector dealings: Mercantile Investment Trust non-exec buys in
7th Jan 2016 15:22
(ShareCast News) - Angus Lennox, a non-executive director of JP Morgan-managed Mercantile Investment Trust, has invested £90,150 of his cash in the grand old dame of the UK trust sector. Former Cazenove investment banker and then a managing director of the investment arm once JP Morgan took over, Le
Read morePetroneft production wobbles as wells hit snags
14th Dec 2015 11:31
(ShareCast News) - Petroneft, the Siberian oil and gas driller, disappointed investors with news that production has not increased as much as expected due to difficulties at several wells. The new T-501 and T-503 horizontal wells at the Tungolskoye project in the Tomsk region were brought online but
Read morePetroneft Resources Russia production up 41%
12th Aug 2015 10:01
(ShareCast News) - Petroneft Resources was on the front foot after a well-received operational update in which it said production from license 61 in Russia had risen 41% since the start of the year. The oil and gas exploration and production company said current gross production stands at around 2,6
Read morePetroneft posts improved production at Russian drilling site
22nd Jul 2015 12:09
(ShareCast News) - Petroneft Resources posted continued oil production growth at its license 61 Russian site. Production at the site was up to 2,400 barrels per day, from 2,000 in March and 1,950 in May. Petroneft is aiming to increase production to between 3,500 to 4,000 barrels of oil per day by
Read morePetroneft Resources to recommence drilling operations in Russia
19th Aug 2014 11:42
Petroneft Resources, the Russia-focused oil and gas producer, has announced it will recommence drilling operations following the completion of the Licence 61 farm-out to Oil India in July. The company said in a statement that it has established a joint venture with Oil India and that budgets and ma
Read moreRussian oil group PetroNeft Resources seals Oil India deal
4th Jul 2014 16:18
Russian oil group PetroNeft Resources has completed its License 61 farm-out to Oil India, leaving it with "significant further funds" to strengthen the company. Under the terms of the agreement Oil India now owns 50% of the license in return for a total investment of up to $85m. The investment is
Read morePetroneft progresses with licence 61 farm-out
15th Apr 2014 13:35
The legal documentation and due diligence required for the farm-out of a 50 per cent interest in licence 61 has been completed, PetroNeft reported on Tuesday. The AIM-listed oil and gas firm said it expects to sign binding legal agreements within the next week. The licence is located at Tomsk Ob
Read morePetroneft narrows losses as revenue rises
28th Jun 2013 09:54
Oil and gas company PetroNeft narrowed its annual losses as revenue and production rose. The Russia-focused group reported a pre-tax loss of $2.8m for 2012, down from the previous year's loss of $16.4m. Revenue climbed to $34.6m from $29m as average production grew to 2,204 barrels of oil per day
Read morePetroNeft sees production rise at Russian operations
21st Mar 2013 10:28
Oil and gas company PetroNeft Resources said on Thursday it successfully completed the sixth well in its Arbuzovskoye development project in Tomsk, Russia. The Arbuzovskoye well 105 was tested at an initial rate of 160 barrels of oil per day (bopd) with no visible water cut. Recent pressure testi
Read morePetroneft drops on mechanical problems in Russia
8th Feb 2013 08:38
PetroNeft's shares plunged 20 per cent Friday after the oil and gas company said it reduced output at two wells in Russia following mechanical production issues. The group has encountered operational problems at its Arbuzovskoye oil field in Tomsk Oblast in recent weeks which has cut back overall p
Read morePetroNeft: Production begins on well 61 at Arbuzovskoye
23rd Nov 2012 08:06
PetroNeft Resources, a Russia-focused oil company, has said the the Arbuzovskoye well 109 on licence 61 has been successfully completed and put into production. The well is just beginning to stabilise after experiencing flow line problems caused by the very cold weather, the group said, adding that
Read morePetroneft well beats production targets
22nd Oct 2012 09:54
Shares in Petroneft Resources, a Russia-focused oil company, leapt on Monday after it hailed 'outstanding' production rates at its newly completed well. The firm said the Arbuzovskoye well 102 had been successfully completed with an initial flow of 540 barrels of oil per day. This marked the high
Read moreResources round-up: Uranium Resources, Conroy Gold, PetroNeft
19th Sep 2012 13:24
Uranium Resources, a uranium exploration company, has said further high-grade intercepts at its wholly-owned Mtonya uranium project in southwestern Tanzania have further reinforced its model of continuous uranium mineralisation at depths between 120m and 220m. The maiden resource is expected in the
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