Petroneft Resources Says Drilling Of Up To 5 Wells At Cheremshanskoye Field Delayed

Petroneft Resources PLC (PTR.I):

• PETRONEFT RESOURCES - COMPANY UPDATE

• PETRONEFT - DRILLING OF UP TO FIVE DEVELOPMENT WELLS AT CHEREMSHANSKOYE FIELD DELAYED FOR FORESEEABLE FUTURE DUE TO INABILITY TO SECURE FINANCING

• PETRONEFT RESOURCES - DIRECTORS OF COMPANY BELIEVE THAT THIS IS AN APPROPRIATE TIME TO CONDUCT A REVIEW OF STRATEGIC OPTIONS AVAILABLE TO PETRONEFT