Petroneft Resources Share Discussion Threads

[parknas] 03/1/2024 07:20

Change of directors.

[loganair] 21/12/2023 10:16

The important part of the RNS...

The Board and Management will continue to work to close the disposal of the Company's Russian assets in a timely fashion. Following closing of the sale, the proceeds will be used for full and final settlement of loan amounts outstanding pursuant to updated loan agreements, and the residual funds will be used to settle trade creditors and remaining staff salaries. Once payables have been satisfied, the Board will seek shareholder approval to close the Company through an orderly wind up.

Money from assets sold will in the following order go towards:

1. Payment of loans, already agreed they'll only receive circa 10c on the dollar.
2. Payments of staff salaries and trade creditors.

[parknas] 21/12/2023 08:02

Unfortunately yes.

[filterwest] 21/12/2023 07:16

Is this news update means our money is gone and lost.

[loganair] 19/12/2023 11:23

PTR has sold all its assets off and has a few dollars in the bank = its basically now a Shell company.

[filterwest] 19/12/2023 10:07

Is PTR trading soon or not?

[spudders] 10/12/2023 14:27

30th November was proposed disposal date, news could be on way 🤔

[organstop] 09/12/2023 22:36

Well well well indeed!

[1in2deep] 08/11/2023 19:38

it is article 5 on page 10 of the full wording on the egm resolution. Get it via the news section on the website should the link not work.

[parknas] 07/11/2023 23:17

Well Well Well!
Where did you find that information 1in2deep?

[1in2deep] 07/11/2023 22:22

To date the Company has received commitments from its staff and directors to reduce monies owed to them by
circa US $1M, reducing the respective balance to US $0.6M.
Other trade creditors will be managed on a business needs basis.
"..With remaining cash balances, the Company will proactively manage its cash holdings to maintain maximum
flexibility going forward, as the Company sets out its plans for future business development in areas other than Russia.." is that a crack in the clouds?

[chris cat] 12/10/2023 14:16

Not me, I've pi££ed away enough money here to waste any more on travel costs

[spudders] 12/10/2023 13:20

Anyone going to EGM today 🤔

[organstop] 26/9/2023 22:42

So, do I presume that means that Petroneft has no further business?

[spudders] 18/9/2023 16:34

Only just noticed latest RNS regarding EGM

[parknas] 05/9/2023 16:31

PetroNeft announces that a loan settlement agreements have been concluded with remaining debt finance holders as reported below.

[parknas] 04/8/2023 12:24

Oh well,this started out as a small punt in 2007.
Then turned into a big punt down through the years, easy to do when you are buying in the 60/70 cents range.
The only good news if you can call it that, is I will not have to pay capital gains tax for a very long time.

[loganair] 03/8/2023 08:12

Shows Petroneft do not even have enough funds to pay their debts, falling short by circa 70% = nothing at all for any remaining shareholders, especially the private retail share holders.

[chris cat] 01/8/2023 08:06

What a sad, sorry end. Inevitable I guess with all of the Geo politics at play

[loganair] 01/8/2023 07:51

It other words, nothing left in the kitty for any remaining share holders.

[spudders] 01/8/2023 07:11

RNS out!!!

[spudders] 03/7/2023 07:35

Best of luck guys with your other investments & hopefully PTR will return and prosper. Keep the faith !!