Admission of shares to trading

PetroNeft Resources plc

("PetroNeft" or the "Company")

Admission of shares to trading

Further to the announcement on 23 December 2010 regarding, inter alia, the issuance of shares on that date to certain directors who had elected to receive a portion of their remuneration in the form of shares, the Company announces that an application has been made to the London Stock Exchange and the Irish Stock Exchange for 42,721 ordinary shares to be admitted to trading on AIM and IEX. Admission will occur on 15 March 2011.

For further information, contact:

Paul Dowling, CFO, PetroNeft Resources plc

+353 1 443 3720

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