Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

PetroNeft mulls asset sales in Russia after posting loss

Wednesday, 26th September 2018
Russia-focused oil and gas company PetroNeft Resources said it was mulling the disposal of its production licences after it posted a first half loss.

Pre-tax losses for the six months through June amounted to $683k, narrowing from a loss of $1.2m on-year.

Rising revenue was more than offset by operating and finance costs.

PetroNeft said it had engaged financial advisers with joint venture partner Oil India to evaluate the disposal of Licence 61 in Russia.

'While we are only in the early stages of this process and there is no certainty that any transaction will be completed, we have seen an encouraging level of interest from a range of well-financed industry players,' it said.

'Furthermore, once the testing of the C-4 well at Licence 67 is complete we will consider a similar process for Licence 67, working with Arawak.'


At 2:13pm: (LON:PTR) Petroneft Resources PLC share price was 0p at 1.5p



Story provided by StockMarketWire.com

Related Shares: Petroneft

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.