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Wed 04 Apr 2007Losses at oil exploration firm rise to $1mLosses at the Dublin-listed, Russia-focused oil exploration company PetroNeft Resources widened from $260,414 (€194,899) in 2005 to almost $1 million last year, as revenues remained at nil."These results draw a line under our successful start-up period and have provided the launch pad for operational and financial progress," chief executive Dennis Francis said yesterday. "We are currently back on schedule in spite of weather delays early this winter and look forward to results later this year."