PetroNeft Resources plc is an oil and gas exploration and production company, focused on Russia. The main assets of the Company are a 50% operated interest in a 4,991 square kilometer oil and gas license (License 61) in the Tomsk Oblast in Russia and a 50% operating interest in a 2,447 square kilometer oil and gas license (License 67) also located in the Tomsk Oblast. Both licenses are located in the prolific Western Siberian Oil and Gas Basin. License 61 contains seven known oil fields, Lineynoye, Tungolskoye, Arbuzovskoye, Sibkrayevskoye, West Lineynoye, Kondrashevskoye and North Varyakhskoye and over 25 prospects and leads. License 67 contains the Ledovoye and Cheremshanskoye oil fields and numerous prospects and leads.