Issue of Equity

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

Issue of Equity

PetroNeft Resources plc today announces that it has issued 110,000 ordinary shares of €0.01 each ("Ordinary Shares") pursuant to the exercise of options.

Application will be made to the London Stock Exchange and to the Irish Stock Exchange for the new Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange and on the Enterprise Securities Market of the Irish Stock Exchange.