Petroneft Resources Share Discussion Threads

[steelwatch] 26/11/2014 12:00

sean - only 2 days? Who set the deadline?

[granto2] 26/11/2014 11:40

take a look at alibaba.com they update investors every few hours …. PTR thin its ok to do it every few months. hmmmmm, it is an issue that can be addressed and it will attract new investors here. The website needs updating to.

[seangwhite] 26/11/2014 11:12

granto

Seems ilke too many cooks can spoil the broth.

Looks like only two days left for this long awaited RNS

VGLTA

[granto2] 26/11/2014 10:44

they employ Murray Consultants PR to help write the RNS's.

[woodpecker25] 26/11/2014 08:20

Fair enough Db.

[dbarr0n] 25/11/2014 21:26

woody.. I see the problem.
Its not who is writing the RNS its those that are reading it..
Read the RNS again.

[seangwhite] 25/11/2014 21:05

Well WoodyWe now see why the typical RNS that PTR put out usually take so long to craft -it is all in the obtuse phraseology!VGLTA

[woodpecker25] 25/11/2014 20:21

Db - re post 27145. I believe you have misquoted the RNS in order to make your unsubstantiated point. You write "The process is expected to take approximately 3 to 4 weeks"From memory the RNS said "This process...." The way you put it is clear, but they way they put it in the RNS is ambiguous, hence the constant confusion. It is not clear which part of the process is to take 3-4 weeks, or indeed it refers to the whole process. There is a clear, distinguishable difference to what you quote from the RNS and what the actual RNS says. Perhaps they should get a lawyer with a better command of the English language to write the next RNS?

[ravin146] 25/11/2014 20:04

Anyone on this bb going to the conference?

[ravin146] 25/11/2014 15:48

Nice video. It's a shame these things are not posted on the website etc. Well that is a calculated guess, that they will give news before conference.

[telegraph1] 25/11/2014 15:41

Very interesting steel lets hope horizontal comes in at 800 bopd lol

[telegraph1] 25/11/2014 15:41

Very interesting steel lets hope horizontal comes in at 800 bopd lol

[steelwatch] 25/11/2014 13:43

ravin - Wed, Thu, Fri, Mon & Tue 7 AMs left before oilbarrel presentation.

As Db says:

[ravin146] 25/11/2014 12:52

Db...I say 4 weeks imo.Secondly couple of months wtf. Well I hope we get something wed thu lol

[dbarr0n] 25/11/2014 12:48

ravin... In my opinion they wont be out of a closed period till early next year because they will drilling testing and doing a reserves update between now and then.

Who said testing has taken 4 weeks ?.

On Oct 14 they said was Abuzovskoye 106, was expected to be completed at the end of last month, they did not say it would be tested at that time or that they would be updating us on the well.

As for T-5 horizontal they said,
The part of the well below about 800 metres will now be sealed with cement plugs to isolate the reservoir before drilling down at a different angle to properly position a new horizontal section. The well will first be drilled down to a depth of approximately -2,490 metres TVDSS and then casing will be set. Baker Hughes will then take over in order to drill the horizontal section in the reservoir. The process is expected to take approximately 3 to 4 weeks, after which the horizontal section of the well will be tested.

So if their timing was correct they are testing this well 2 - 3 weeks, horizontal wells take longer than vertical wells to test, because of their length they have to be perforated in multiple locations.
I have seen the testing of horizontal wells take a few weeks to a couple of months.

[seangwhite] 25/11/2014 12:24

Looks like our BOD are really working hard on the long awaited RNS or is it just that they are waiting on Oil India to sign off on the subtle nuances (they are so fond of) on actual production that is causing this embaressingly long delay.

VGLTA

[ravin146] 25/11/2014 10:59

Dbarron, just wanted to check with you due to your higher knowledge of this company's insides and outs...when can directors buy ptr shares? If so why have they already done so? I remember you stated 'closed period' etc but it should be removed by now? Secondly, are there any indications why testing has taken 4 weeks?

[ravin146] 23/11/2014 14:30

Hence I believe at best it will be 7p end of year, or at levels we are at now...next year if successful will be the best share price re-rate so I I was a new investors if hold back for now.

[seangwhite] 23/11/2014 13:14

Well Ravin We are all waiting on T5 to see if the horizontal drilling option will prove successful for PTR going forward with OI.It is likely that we will hear something next week as PTR must have something to say at the Oil Barrel event or the BOD will look a little inept!In the present E&P sector valuation doldrums it will take really good news to get any increase in PTRs SPVGLTA

[ravin146] 23/11/2014 12:25

$85m may be peanuts to Oil, but a return on investment is simply a must for them. 2100 to 7500 in 3-5 years...maybe we'll get there in before then based on a re-rate of reserves.

[spudders] 22/11/2014 09:13

Business Standard 12 Nov Oil India profit down 33% on 1/4, does mention PTR pumping an ave 2100 bod. I'm convinced the drilling programme will be accelerated once we have latest results, if successful. It would be interesting to know the current monthly cash burn rate.

[ravin146] 21/11/2014 17:35

Fair play toon, maybe it was that but I thought it was from that day on. It will be interesting how they word this rns, surely they have a junior investor relation going through these threads reading things.

[steelwatch] 21/11/2014 17:17

toon - at least there are no unexplained share movements to suggest insider dealing, so let's see what the news is before giving the Board a good kicking. Only 7 more chances to announce something ahead of oilbarrel, including that morning...