Petroneft reports "good progress" on debt and farmout talks

Russian-focused Irish explorer Petroneft has made “good progress” on re-financing debt and on proposed farmouts n the last month, it said in a statement.

11th September, 2013

Russian-focused Irish explorer Petroneft has made “good progress” on re-financing debt and on proposed farmouts n the last month, it said in a statement.

The successful completion of negotiations on either front will enable the company to recommence its drilling programme and return to building production, the company said.

Petroneft said it was very encouraged by the stability of its production in recent months, which is currently steady at 2,500 barrels of oil...

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