RNS Number : 6165L

Petroneft Resources PLC

14 January 2021


14(th) January 2021

PetroNeft Resources plc

("PetroNeft" or the " Group " or the "Company")

Financing Update

PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, is pleased to provide a financing update.

Loan facility

In June 2019 PetroNeft agreed a convertible loan facility of US$1.3 million with a group of five lenders. The convertible loan matured on 31(st) December 2020 however discussions have been ongoing to secure a one year extension to the maturity date. Whilst those discussions are ongoing we are confident that we will be able to announce a successful outcome shortly.

For further information, contact:

                                                          +971 55 1919 
 David Sturt, PetroNeft Resources plc                              808 
 John Frain/Caroline Pearson, Davy (NOMAD, ESM Adviser      +353 1 679 
  and Broker)                                                     6363 
                                                            +353 1 498 
 Joe Heron / Douglas Keatinge, Murray                             0300 

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(END) Dow Jones Newswires

January 14, 2021 02:00 ET (07:00 GMT)