- PetroNeft said it had agreed to take out a $2m loan facility with Swedish company Petrogrand, maturing 31 December 2018.

The loan would be used for general corporate purposes and to finance a potential drilling programme in 2018.

Discussions with partners on a 2018 drilling programme were ongoing, the company said.

"This loan facility will provide time and space for a more long-term financing solution to be put in place," it added.

Winter production from Sibkrayevskoye, meanwhile, was getting underway now that winter roads had become available.

At 9:13am: [LON:PTR] Petroneft Resources PLC share price was +0.53p at 2p

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