StockMarketWire.com - Russia-focused PetroNeft said it planned to bring the Cheremshanskoye field into production in the first quarter of 2020.

The field was located in licence 67, of which the company was operator and a 50% shareholder.

PetroNeft also said that it was exploring options to work over and re-test two wells in the Ledovoye field, also in Licence 67, during 2020.

'This is an exciting development for the company as we work towards commencing production from the Cheremshanskoye field,' chief executive David Sturt said.

'Re-entering the two previously drilled wells enables us to initiate production without the need for significant capital.'




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