- Petroneft Resources said total oil production from its Licence 61 totalled 2,800 bopd.

This followed the successful completion of 105 well and re-perforation of 102 wells at Arbuzovskoye.

"Development work at Arbuzovskoye has been positive this past month. Not only has the pressure testing of two wells confirmed normal pressure decline for the field in line with production, but the workover of well 102 was successful," the company said.

"We will now implement the planned pressure maintenance programme on the field which will slow production decline and improve recoveries. A similar programme was implemented at Lineynoye field where we had positive results."

At 8:32am: [LON:PTR] share price was +0.26p at 4.38p

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