PetroNeft Resources Plc
PetroNeft Resources Plc
Dublin 2, 20 Holles Street Ireland
Sector: Energy
Description
Founded in 2003 by Dennis Francis and David Sanders, PetroNeft Resources Plc has its origins in PetroNeft LLC, a Texas-based company. PetroNeft Resources Plc is an international oil and gas exploration and production company, primarily focused on Russia and headquartered in Ireland. The PetroNeft LLC fully acquired participatory interest in a Russian company, Stimul-T and acquired a 100% interest in Licence 61. In 2005, PetroNeft Resources was incorporated with the acquisition of all the principal assets and liability of PetroNeft LLC, and Its shares got listed on the Alternative Investment Market segment of the London Stock Exchange as LON: PTR, it also has secondary listing on the Dublin ESM Market since 2006. The company further aims to acquire newer core exploration and production areas that can satisfy its strict technical and legal evaluation criteria with main focus in the Western Siberian Basin and in other Russian federation areas.
The company has two main assets, which include Licence 61 and Licence 67. The Licence 61is located in the Tomsk Oblast in Russia, it was acquired in 2005 and the company has 50% operating interest in a 4,991km sq of Licence 61. It contains seven oil fields that include West Lineynoye, Lineynoye, Arbuzovskoye, Kondrashevskoye, Tungolskoye, North Varyakhskoye and Sibkrayevskoye. Further, it also has more than 25 Prospects and leads that are currently being explored. The company in 2014 rented out 50% of Licence 61 to Oil India Limited and remains its operator.
The Licence 67 is also located Western Siberian Oil and Gas Basin in Tomsk Oblast in Russia; it was acquired in December 2009 at a state auction. The company has its 90% operating interest in a 2,447 km sq and it contains the Ledovoye and Cheremshanskoye oil fields and number of prospects and leads. In 2010, Belgrave Naftogas (Formerly Arawak Energy) exercised its right to participate in licence 67 for 50% under the AMI agreement and the company remains the operator of the licence. In 2021 the company acquired more 40% stake and now the company has 90% interest in licence 67.
Peers
PHAR
Pharos Energy PLC
INDI
INDUS GAS LIMITEDINDI
UJO
Union Jack Oil PLC
GKP
Gulf Keystone Petroleum Ltd
ZOL
Zoltav Resources INC
PPS
PROTON MOTOR POWER SYSTEMS PLC
WEN
Wentworth Resources PLC
INSE
INSPIRED ENERGY PLC
WG
WOOD GROUP (JOHN) PLC
SHEL
Shell Plc
TGP
Tekmar Group Plc
EQT
EQTEC Plc