StockMarketWire.com - PetroNeft, 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 an update on operations at Licence 61. Highlights:

Tungolskoye

• T-502 horizontal well brought on line at sustained rate of over 450 bopd.

• T-503 horizontal well currently producing at around 400 bopd.

• T-507 control well and water injector spudded on 25 August.

West Lineynoye

• L-10 horizontal well currently producing at a sustained rate of 130 bopd.

Production

• Current gross production from Licence 61 is about 2,700 bopd.

• Represents a 46% increase in production in 2015.






Story provided by StockMarketWire.com