Petroneft Resources Plc

Share Issue/Capital Change • May 11, 2020

National Storage Mechanism | Additional information

RNS Number : 3424M

Petroneft Resources PLC

11 May 2020

PetroNeft Resources plc

11th May 2020

PetroNeft Resources plc

("PetroNeft" or the "Group" or the "Company")

Share Issue

PetroNeft has settled outstanding liabilities owed to Dennis Francis totalling $200,000 through the issue of 10,471,204 new ordinary shares.

Resultant holdings of Mr Francis:

	Ordinary Shares held prior to Share Issue	Share Issue	Resulting holding of Ordinary Shares	% of Issued Share Capital*
Dennis Francis	36,361,620	10,471,204	46,832,824	5.58%

*This percentage shareholding is based on a total shares now in issue figure of 839,357,061 ordinary shares.

The Company will apply for admission of the Shares to be traded on the AIM and Euronext Growth markets. It is expected that Admission will take place and that trading will commence on or around 14th May 2020.

For further information, contact:

David Sturt, CEO, PetroNeft Resources plc	+971 55 1919 808
John Frain/Brian Garrahy, Davy (NOMAD and Broker)	+353 1 679 6363
Joe Heron / Douglas Keatinge, Murray Consultants	+353 1 498 0300

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ALSUBUBRRUUVRAR