Petroneft oil and gas
PetroNeft Resources plc is an international oil and gas exploration
production company, focused on Russia. The company’s shares are
listed on the London AIM and Dublin ESM Markets.
South Arbuzovskoye Development Plan
· One vertical and up to 3 horizontal wells
· Pad 2 construction has been completed and construction of the pipeline and power line to Pad 1 is in progress
· Production drilling rig is being moved to location with drilling and production to commence in Q2
Sibkrayevskoye Delineation and Optimization Studies
· Additional delineation well (S-374) at Sibkrayevskoye to better define south-eastern portion of the field
· S-374 drilling pad is under construction and the drilling rig is being moved to location
· Optimisation studies and approvals for Sibkrayevskoye Development
Sibkrayevskoye Development Plan
· Development of Pad 1 with up to 7 vertical/slant wells and 6 horizontal wells
· Construction of 26 km pipeline and power line from Pad 1 to Lineynoye central processing facilities Q1
· Commencement of development drilling and production Q2
Notes: expect the gross margin to improve in future periods as our
facilities and field operations are fully staffed
and can handle additional production from the Arbuzovskoye and Tungolskoye oil fields under the current cost structure.
We produced 728,826 barrels of oil (2013: 870,965 barrels) in the year
and sold 704,189 barrels of oil (2013: 879,826 barrels) achieving an average oil price of $41.59 per barrel (2013: $43.97 per barrel).”
Recent news releases are here
Petroneft oil board has a fiduciary duty to stock holder -
World prices of old is down ... reflect on all oil stocks
World oil price will cycle, Petroneft drill has increased.
Production has increased.
| Google -