News listings

energy-pedia general news

Russia flagRussia

Europe / Caspian / CIS >>> Russia

Russia: PetroNeft Resources provides company update

20 Mar 2023

Photo - see caption

PetroNeft, an oil and gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61 has provided a company update.

Photo - see caption
Petroneft is 90% owner and operator of Licence 67 and 50% owner and operator of Licence 61

Strategic Review

The Independent Committee remains in discussion with Pavel Tetyakov, CEO of PetroNeft, which may or may not lead to a binding offer for the Company's Russian assets. At this stage there is no certainty that this will lead to a successful outcome.

The Company is also in discussions with all its main debt holders, in particular Petrogrand AB ($2.55M) and the holders of the 2021 Convertible note ($1.24M) whose maturity dates have expired at this time.


The Tomsk Regional Court of Arbitrage has just made the decision on the first claim from Nord Imperial LLC, the owner of the pipeline connecting Licence 61 to the Transneft pipeline system, to Stimul-T LLC, the holder of Licence 61, to collect debt for oil transportation services in the amount of USD 4.2MM (main debt) and USD 2.3MM (penalties). The court resolved to satisfy the claim of Nord Imperial in the amount of USD 3.8MM (main debt) and USD 2.3MM (penalties).

The Company believes there are grounds to further reduce the claimed amount and is now preparing the application to the Court of Appeal.

Whilst the Company is reviewing options in light of the court ruling, the inability to be able to transport oil out of Licence 61 combined with this court ruling is increasingly leading to a challenging future for Stimul-T.

Original article link

Source: Petroneft

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 232

Completed Deals

Completed Upstream Deals: 6585

Company Profiles

Current Company Profiles: 2914

Corporate Activity

Current Corporate Activity articles: 4158

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1664


Current Geostudies articles: 974

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Rose & Assocs
Telos NRG
Government of South Australia
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675