Petroneft Resources Share Discussion Threads

[oilretire] 22/10/2014 21:02

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22 Oct 2014 by Stewart Dalby
We always knew, or rather surmised that when PetroNeft Resources, having seen off a would-be takeover attempt by dissident Russian shareholders, and brought off a lucrative farm-out deal with Oil India (OIL), the company would move in a slightly new direction when it ended its drilling hiatus and started sinking holes again. With US$35 million upfront from OIL to remove the crippling debt overhang and US$45 million to develop the core asset, Licence 61 in the Tomsk Oblast, Siberia, PetroNeft...

[telegraph1] 22/10/2014 19:19

The thing is with shares granto there is no bell ringing to tell you when to sell

[granto2] 22/10/2014 09:32

to avoid that manipulation I never sell at the bell ( opening or closing ).

[rockin robin] 21/10/2014 22:00

Tbh.The first and last sales of the day are at exactly at the same price...5.85pIt's only the MM's portrayal of the sp, presumably to make punters 'give-up' and sell, so they accumulate cheap stock in a lull.Typical MMs games. When actually nothing is going on - literally.

[ravin146] 21/10/2014 21:04

Btw not happy with this downward manipulation on little volume, typical!

[ravin146] 21/10/2014 21:03

Well first of all correct me if I'm wrong. We didn't get any info on who the other bidders were or whether oil were the only ones. I'd like to see if anyone has a old independent value of the field and compare this to the $80m. Secondly yes peanuts as in cheap, as in a bargain, as in a steal. Imho. However as with oil comp, it's risky, and this is high risk atm so oil has good belief or just like gambling haha. Gla

[crudde99] 21/10/2014 20:38

ravin146..... well if oil did get 50% of L61 for peanuts i'm sure like me you would wish them well as their offer must have been the best bid on offer. And if it was a peanuts bid, well the remainder of L61 plus 50% of L67 is still been valued at "less than peanuts" and guess what...??? no offers what so ever..!! Lets hope that sentiment towards PTR will eventually change for the better...GL

[ravin146] 21/10/2014 20:15

Let's stop arguing here lol...and be frank, the company promised a lot and then could not deliver. Simple. Just look at the share price. Though many oily have done the same as funding collapsed in 09/10. Now they have a helping hand. Question isn't why this didn't get taken out by a large oil company, maybe it is not a big enough nugget, but question is why is oil here as a partner? They must know something, but maybe it is worth sharing the risk for them, and they got the share for peanuts anyway. Gla

[thetoonarmy2] 21/10/2014 11:00

granto2. Of course its directed at you, he has a pretty good knowledge of PTR (rumoured he is ex PTR himself) anyway close to Directors but anyone who disagrees has an agenda or tied up with the Russians etc, its a pity because 90% of the time he is close to the money!

[granto2] 21/10/2014 10:27

DbarrOn, Are you suggesting I may have an agenda here? That's not nice, not fair and not true, If nothing else I am honest. Perhaps you will have the good grace to elaborate because I think your comment is directed at me.

[dbarr0n] 21/10/2014 09:43

toon..

Opinions or agendas ?..

[dbarr0n] 21/10/2014 00:21

sean..

Its a hard one to call could be anywhere between 100 and 300 bopd IP.
If it produces oil commercially its a good result..

[seangwhite] 20/10/2014 23:15

DbAny views on what would be considered a good result on the Arb drill due later this monthVGLTA

[dbarr0n] 20/10/2014 19:55

granto...
I am afraid to say your reply was not worth writing..
You have not explained where the waste you referred to occurred..

The vast majority of what Petroneft has spent has been spent wisely and very little companies out there can say they didn't have to borrow.
You say they could have raised the money from the market when the share price was high, They did just that, but there is a limit to what you can raise based on where you are at the time.

[granto2] 20/10/2014 19:07

P.S. I have been following PTR for years. I nearly bought several times but held off. I bought for the first time in March 2014. Good timing I hope. I have no axe to grind with the Mgt, just calling it as I see it as newbie.

[dbarr0n] 20/10/2014 17:13

granto..
Would you like to explain where the waste was ?.

[dbarr0n] 20/10/2014 17:12

crudde99 ...

In my opinion the outlook has never looked better for Petroneft.
The markets will react eventually.

50% operator of two licences,
71 million barrels of P2 reserves
1000 bopd production.
Major infrastructure in place on licence 61
No debt.
Approx $ 10 million cash
OIL spending $ 45 million in increasing production.
Costs are now half what they used to be before farm out.

[granto2] 20/10/2014 17:09

Crude99, lots of waste here in the past, but a reasonable infrastructure is now in place, lots of progress underway.

[crudde99] 20/10/2014 16:37

Time will tell, but i for one wouldn't bet on it.. The interest in PTR seems deflated at best and it looks like its going to be a very slow burner in the short term. As others have stated, investors will NOT buy in here again based on promises and optimistic future forecasts as we can all see just how all of that hype ended for shareholders before.!!! Production will have to be upped massively in the short term to prove they can firstly get the oil out, and also in order to then put a truly reflective value on the reserves in the ground..!!! It CAN be done but it will take great results coupled with lots of time... GLA

[granto2] 20/10/2014 15:25

Surely any sort of a reasonable result should give the share price a boost.

[dbarr0n] 20/10/2014 12:38

Going on the last update Arbuzovskoye 106 should be at target depth now and have news on it next week.

[spudders] 20/10/2014 12:24

AMER doing well on the back of PPC. Looks like SA is the place to be. Looks like the mms are going to fill the gap here😟

[granto2] 20/10/2014 09:29

steel…some grey suited investors ONLY crunch the current figures and it's a policy that has stood the test of time, others who only invest in PROFITABLE companies, other who want to see a few years of performance, and these are the people who just don't want to listen or care about the potential. As a wise old scot CFO once said "we can only trust the figures'. It's a tough world so until PTR 'show us the money", there will always be a group of investors that won't touch it, even those who genuinely like it. lots in the pipeline here.