Natlata may back Petroneft deal

Shares in Aim-listed Russian oil explorer Petroneft surged yesterday, after its largest shareholder Natlata indicated that it may support a recently-agreed farm-out agreement with Oil India. “If the deal is as attractive as suggested, Natlata would consider supporting it,” it said. But Natlata added that further details were lacking on the deal and urged for more clarity from the board. Natlata is calling for a management overhaul at next month’s annual shareholder meeting.