PetroNeft Resources reducing costs and increasing production (Interview)

PetroNeft Resources plc (LON:PTR) CEO David Sturt joins DirectorsTalk to discuss the licence 67 operational update. David talks us through the operational success of the Cheremshanskoye road being built along with the results from the C-4 well, the start of the workover of the L-2a well and explains what else we can expect in terms of newsflow over the coming months.

PetroNeft Resources plc was established to develop oil assets in the Tomsk Oblast in Western Siberia.

PetroNeft owns and operates 90% of licence 67 and 50% of license 61, both located within the Tomsk region of Russia which has a long tradition in oil and gas production.

Tomsk itself is located within the major West Siberian Basin which is the largest petroleum basin in the world, covering an area of 2.2 million km². Discovered petroleum volumes are estimated to be over 350 billion barrels oil equivalent (BBOE).

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