Financing Update

RNS Number : 6165L

Petroneft Resources PLC

14 January 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

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:

David Sturt, PetroNeft Resources plc	[phone]
John Frain/Caroline Pearson, Davy (NOMAD, ESM Adviser and Broker)	[phone]
Joe Heron / Douglas Keatinge, Murray	[phone]

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation and is disclosed in accordance with the Issuer's obligations under Article 17 of the Market Abuse Regulations.

 

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