The London-listed company admitted it may have a pressuredepletion problem at one of its oilfields but also said it is looking forwardto completing further wells there.

PetroNeft said it has experienced “unusuallyextreme temperatures” of up to -49 degrees Celsius at Licence 61 in TomskOblast “which has slowed operations significantly”.

It also said, however, that it has “encounteredmechanical production issues” at the Arbuzovskoye oilfield on the licence,impacting on production at two wells.

“The