Petroneft Resources Share Discussion Threads

[dbarr0n] 22/9/2014 16:25

ravin
They spudded T-5 27 / 28 days ago so every possibility that we could get results on the vertical well this week.

[ravin146] 21/9/2014 17:49

So dbarron and others who attended agm, noted we will get vertical results, so next week a possibility? And update on other wells. After this wait, I'd rather wait until horizontal results are due, unless it's bad news than let us know now lol

[spudders] 19/9/2014 15:26

RR, 3 of the bargains bought today are mine, mms want stock as a 500k dummy buy was not possible on quote and deal. I hope I'm not throwing good money after bad with part of KENZ profit BWTFDIK. See you all after well results ;)

[rockin robin] 19/9/2014 14:48

Not sure if it's a combination of the rubbish software they use - so no-one really knows for sure if a shown-trade, is a buy or a sell...Or it's the MM's delayed reporting which deceives everyone, so no-one really knows, if there is any buying pressure currently or not...Or because, the share price is dribbled downwards constantly, whilst there still seems to be, very strong buying...But all in all, I think we have a BUYER, trying to get as much cheap stock as possible - without 'startling horses'.15 million shares traded within 24 hours. 200k blocks traded, which indicates to me, one buyer.If we get good news, I think with lots of stock recently 'bought' and now 'off' the Market - things could get - very interesting..We just need PTR to do 'the Business' now & we're all sorted. Lol.

[spudders] 19/9/2014 13:56

All Buys today at 6.30p, I have taken a few whilst funds permit.GLA

[steelwatch] 19/9/2014 09:22

RCT - as Db said, swamp needs to be frozen for seismics.

[dbarr0n] 19/9/2014 09:03

ravin.. I was not including T-5, the figure is for Arb alone ..

[rcturner2] 19/9/2014 08:42

I would assume that seismic is not actually done by PTR but by a specialist contractor in that business. It is a highly complex and technical bit of work and you need an expert. I also suspect that there are quite long lead times on arranging seismic in terms of contracting an experienced operator for a future bit of work.

[ravin146] 19/9/2014 06:50

Dbarron I am not. I'm just asking you questions as you seem to be connected to management. Mates-mate. I understand seismic is done on this field, my point is if 'infrastructure' is ready for seismic on the other field which on the whole seems to be more yielding than this why not do that now.Ps nice reduction in your forecast, you stated that figure for t-5 alone earlier!Anyways it is what it is, shame these questions don't get asked at agms to scrutinise strategy etc even if they are correct, it's healthy to do so. Gla

[seangwhite] 18/9/2014 23:48

DbThanks for the good roundup of planned works by PTR and I for one hope the T5 well proves the horizontal drilling to be a game changer for the company.I appreciate it will not add to output for sometime but just proving the usefulness of it will raise the outlook for 2015.VGLTA

[dbarr0n] 18/9/2014 22:47

Steel I agree, we would be still listening to moaners regardless of whether the directors bought or not.
Arbuzovskoye is only going to add 200 / 300 bopd to production by year end.

ravin, I think you are a little confused.

(1) They will be drilling 3/5 production wells on pad 1 at Arbuzovskoye and the drilling the T-5 delination well at Tungolskoye.
They are developing Tungolskoye next year and they are not doing seismic here, it has already been done.
...............................................................................................................
Acquisition of 1,000 line kms of high resolution 2D seismic data has been approved. This programme is designed to detail the Sibkrayevskoye oil field and large Emtorskaya High where potential by-passed oil has been identified.
It will also further detail three significant leads in the Northern portion of the Licence area.
The seismic crew has already mobilised to the field for surveying and line clearing operations.
The data acquisition will occur primarily in Q1 2015 with results due in late summer 2015.

Materials and supplies necessary for this programme were mobilised to the field earlier this year when winter roads were in place.
................................................................................................................

(2) The ground has to be frozen to shoot seismic.

(3) They can drill winter or summer once the drilling rig and necessary supplies are in place, its very rare for the weather to cause problems.

[ravin146] 18/9/2014 21:42

Steelwatch yes true, it's the principle I think Crudde is trying to highlight. Anyways, the past doesn't highlight this field to behind production results but shouldn't the horizontal method extract more oil than the past? I would have thought oil India must have pushed to do the best field first? What I don't understand at present is, why not just do the seismic analysis now, then drill? Won't winter weather impact drilling, remember all the weather related excuses we had in the past, though understandable, but worth noting. I think many long term holders here hope this field is a success rather than waiting another year for a rise! Gla

[steelwatch] 18/9/2014 19:38

None of this matters a hoot. If the directors were wealthy enough to buy 10m shares between them tomorrow, we'd still be back to traders moaning about production figures once the dust settled and I don't personally expect too much from Arbuzovskaye in the near term. It's now all about next year and beyond.

[dbarr0n] 18/9/2014 18:52

ravin.
They were in discussions regarding a farm out and re financing going back to mid 2012.

[ravin146] 18/9/2014 16:15

Non disclosure agreement was signed nov time 2013 for the farm out no? So plenty of time top up before then....anyway it's trivial now. The main topic I'm interested in now is oil India only.

[oilretire] 18/9/2014 13:17

Drilling does not constitute a 'close' period IMHO

[dbarr0n] 18/9/2014 11:21

ravin. They couldnt, they were either drilling or in farmout talks, and will be in a closed period till at least the end of the year..

[ravin146] 18/9/2014 06:25

Wow...that makes the directors look more bad then. Buying when they knew what was coming lol... Ok 2013 jan to nov they could have bought...they didn't simple. Dbarron we are talking peanuts during those years. So when does this closed period, close?

[carlo sartori] 17/9/2014 23:25

Hi Seangwhite,

I would imagine that the Directors would have been prevented from buying any shares in Petroneft while the Oil India negotiations were on-going throughout 2013 and H1 2014?

Carlo.

[seangwhite] 17/9/2014 23:14

DBWhat happened to 2013 & 14 was the price too high for the directors to buy? Well at least Natlata bought a fair sized holding in that period.VGLTA

[crudde99] 17/9/2014 23:13

ravin 146 I feel that oil don't really have a lot to loose here. if it works out they stand to do well and if it doesn't, well 85 mill will certainly not break Oil India. When all is said 85 mill is really chicken feed to Oil... They have taken a calculated punt, but a punt none the less...

[dbarr0n] 17/9/2014 23:10

Ravin, Actually the directors did buy shares in 2007, 2008, 2009, 2010, 2011 and 2012.

[ravin146] 17/9/2014 22:05

*as a director I would not have bought

[ravin146] 17/9/2014 22:04

Crudde see your point, and dbharron may be right. And obviously they haven't bought before that and years before they obviously knew they were running out of funds, shares would be diluted many times. If I was a director know what they were doing I would buy. But ignore that all then Crudde...so why have oil India thrown $85m at a company with a poor record ...because they have done their homework, must be more oil there. Imho gla

[dbarr0n] 17/9/2014 19:57

Crudde .. The board could not buy because they were and are in a closed period, and still are ..
How much cash do you think they have ?, It would be crazy for them to use it on a share buyback at this point in time, they do have another licence to fund.
Maybe if they had $20 million on hand but they dont.