Holding(s) in Company

PetroNeft Resources plc ('PetroNeft' or 'the Company')

Holding(s) in Company

PetroNeft received notification on 2 November 2012 from Macquarie Group Limited on behalf of Macquarie Bank Limited that Macquarie Bank Limited continues to hold an aggregate interest in 30,343,565 ordinary shares of €0.01 each which, following the completion of the issue of the Tranche 1 shares in the recent placing, now represents 6.62%* of the issued share capital of PetroNeft Resources Plc.

\* This percentage shareholding is based on a shares-in-issue figure of 457,992,076 ordinary shares.

It is expected that Macquarie's holding will revert to above 7% if the motions before the EGM of the Company due to be held on 19 November 2012 are passed as this will result in Macquarie subscribing for a further 12,511,495 ordinary shares of €0.01 each in the company.

Contacts

Paul Dowling, CFO, PetroNeft Resources plc

+353 1 6470280

End