- Russia-focused explorer PetroNeft posted a narrower annual loss after lower expenses partially offset a fall in revenue.

Pre-tax losses amounted to $2.3m, compared to $4.6m of loss a year earlier.

Drilling at Cheremshanskoye No. 4 well, which the company said could significantly influence its future, was due to commence in the coming weeks.

At 8:00am: [LON:PTR] Petroneft Resources PLC share price was 0p at 1.28p

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