Directors Declaration

PetroNeft Resources plc

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

Directors Declaration

Pursuant to Schedule 2, Paragraph g of the AIM Rules and ESM Rules, Petroneft notifies the following in relation to Mr Maxim Korobov (age 58), Mr Anthony Sacca (age 43) and Mr David Sturt (age 53) (collectively the "New Directors") who were appointed as directors of the Company on 25 April 2016.

The New Directors hold or have held, outside the Group, the following directorships, and/or are or were members of the following partnerships, within the five years prior to the date of this announcement:

Natlata Partners Limited holds an aggregate interest in 208,429,458 ordinary shares of €0.01 each which represents 29.47%* of the issued share capital of PetroNeft. Mr. Maxim Korobov is the 100 per cent. beneficial owner of Natlata Partners Limited.

There is no further information to be disclosed in respect of the New Directors as required by Schedule 2, Paragraph g, of the AIM and ESM rules for companies.

\* This percentage shareholding is based on a shares in issue figure of 707,245,906 ordinary shares.

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