PetroNeft continues to make solid progress with large international oil and gas company (Scandinavian Oil-Gas Magazine)

PetroNeft continues to make solid progress with large international oil and gas company

Published Mar 19, 2014

PetroNeft owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to announce a funding and operations update.

Highlights ◾ $6.7 million fundraising consisting of ◾ $5.2 million new equity issue at 5 pence per share ◾ $1.5 million in debt

◾ Production higher at 2,400 bopd, reflecting improved well performance ◾ Licence 61 farmout confirmatory due diligence and legals progressing well; completion anticipated in coming weeks

Tags: PetroNeft Resources plc

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