Appointment of Joint Broker

Petroneft Resources PLC
21 May 2007

                     PetroNeft Resources plc ('PetroNeft')



                          Appointment of Joint Broker





PetroNeft announces that it has appointed Natixis Bleichroeder (a division of
Natixis, London Branch) as its joint broker with immediate effect.



Davy continues to act as joint broker and nominated adviser for PetroNeft.







For further information, contact:



Dennis Francis, CEO, PetroNeft Resources plc

[phone]



Desmond Burke, Director Investor Relations, PetroNeft Resources plc

[phone]



Nick Elwes/Paddy Blewer, College Hill

[phone]


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