Petroneft Resources Share Discussion Threads

[steelwatch] 10/12/2014 23:29

ravin - DF also said they aren't fracking the T5 horizontal, so drilling fluid flow back won't take too long, unlike heavily fracked shale wells where vast amounts of frac fluids are pumped into the well and take ages to clean up.

[steelwatch] 10/12/2014 23:19

ravin - Baker Hughes is the third largest oil services company in the world, market cap $25bn



That do ya?

[sif12] 10/12/2014 22:46

To second kevs qs on local selling.. are we shielded from general oil price? How id the local price set? Based on the way net income per barrel is calculated do fluctuations in the local price have a linear impact?

[ravin146] 10/12/2014 22:05

Kev unserious comments well received. Pedantic on the numbers but I assume that was unserious too. I'm try not to be pessimistic, just like to question the bod decisions etc...end of the day I'm here to make money, even if I scrutinise each news or depression in share price Dbarron, the flow test takes time too, as you have mentioned before, but hey who am I to go against the bod views, which are now your views.Baker Hughes will do this drilling, I'd like to know their background actually, seeing as a lot more horizontal drillings could be done in the future...anyone know them?

[dbarr0n] 10/12/2014 21:26

Ravin..
They said the complete horizontal well would take approx 3 to 4 weeks to complete.
They have already drilled and cased the vertical section of the horizontal well down to approx 2490 mtrs which is just above the reservoir and all that remains to be drilled by Baker Hughes is the 300 mtr horizontal section and flow test it.
If they can drill up on 150 mtrs a day vertically surely they can drill 20 mtrs a day horizontally which means they would drill the 300 mtr section in 10 days then flow test it.
So a result before year end is very possible..

[kevjones2] 10/12/2014 20:35

Ravin, there's nothing worse than those uber-positive investors one reads on LSE but you are almost the opposite (I'm not being too serious here but I do like to know what makes people tick). Earlier on you said a 50% increase on 5p would be only 7p. As you well know it's actually 7.5p. Why choose 7 rather than 8? Better still why not be precise and say a 50% increase on today's share price (5.25) would be 7.875p - some nutcases might actually refer to that as 8p.

Also, you said the share price dropped on 800,000 shares sold today. The share price finally gave in to the cumulative pressure of several days of more sells than buys. Indeed, a positive outlook would be to note how well Ptr's resistance was under severe pressure.

On a serious note though, RC Turner referred to Ptr selling locally and the rouble situation. I'd like to know more about this and try to understand if the slow drop in the share price (slow compared to almost every other oil company) is because the oil price issue is irrelevant to us and investors are getting typically impatient with no news. Or if the price of oil does affect Ptr in which case the share price has held up remarkably well. Or if the oil price doesn't affect Ptr but market sentiment against oilies is spilling over (no pun intended)coupled with investors' impatience and fairly righteous disappointment at lack of news. Or a combination of several of those factors.

Come to think of, all I seem to know is basic mathematics. Lol.

[ravin146] 10/12/2014 19:49

Yes steel, that was in reference to t-5. Year-end seems early to me if they only just started drilling, but miracles can happen. Kev, all oil price related maybe, but as I said today's fall was down to 800k volume. Really? My main point is the lack of regular news. If this goes to 3p, you can buy everyone's shares as I certainly won't hold it lol

[spudders] 10/12/2014 19:44

Steel, you are quiet right Des Burke, brain overload on my behalf.

[steelwatch] 10/12/2014 19:31

ravin listen carefully to the final Question and answer - "we would hope to make an announcement by year end" - no guarantees!

[rcturner2] 10/12/2014 19:20

PTR sells its oil into the local market at a discount to Brent, I believe. Presumably though with the rouble crashing though the oil price drop is cancelled by the rouble fall, or is this too simplistic?

[kevjones2] 10/12/2014 18:58

Can't for the life of me understand a small number of people getting upset. Are they even aware of what's been happening in the oil industry in the last few months - especially the last week or two? Companies have been decimated. Almost every oilie is down dramatically. Before the oil price crisis I expected Ptr to drop to 4.6p purely while waiting for results - I thought impatient small PIs would sell up. But the share price didn't - it actually went up.

Now it's dropping again but far slower than the majority of oil companies I've observed (of course there'll be exceptions). I can't be accused of being a ramper as I have frequently been critical of the bod bt in all sincerity I really don't know what the fuss is about. Even if the share price drops to 3p over the next few months I would remain the most relaxed I have ever been about a company. Ptr have literally tens of millions of pounds to invest in an already scheduled drilling program. Unlike the vast majority of companies Ptr have no financial concerns whatsoever - NONE!
The longer this oil price crisis lasts the more we will see oilies folding - not Petroneft. Clearer RNSs would be welcome but we need to be patient. Have a nice Christmas and relax ffs. Lol.

[ravin146] 10/12/2014 18:48

Steel, disagree. At no point in the presentation did he state any rns would be released. 'We'll report' 'We should have flow rate on arb well end of the week'. None of that constitute a rns, but are you telling me any information like this should not necessarily be released to shareholders asap. Simple flow rates on wells were released a year back, on a 30-40 day basis. And even those were coming in at 100-150 or so bopd, if that is not achieved on the arb well maybe that could be a reason not to announce it and wait for the t-5 to disguise the arb result. The t-5 result won't be here until feb as if it take 20-30 days to drill the horizontal and then test it, calculate fine rates etc. Who knows if the horizontal drilling has actually started, they said this last time, and didn't tell us until the conference tgat it had not in fact started.Rant over. But I am just requesting for an rns of what's going on. At this stage it seems as though they have used the conference as a 'rns' to basically give a quick update. Not good enough. The share price continues to drift, and never lies imo.

[steelwatch] 10/12/2014 17:47

ravin - I listened very carefully and at no point did DF state there would be a separate announcement of flow rate from A106. On T5, he did say he hoped they would be able to report before year end, but that it could run over into January. Also expecting seismic interpretation from licence 67 by year end. My guess is they will stick with the formula of periodic general announcements bundling less important news in with more significant results, So my guess is early January.

As far as Natlata is concerned, no one knows what would have happened had they gained sufficient support. Personally, I doubt very much shareholders' interests were foremost in Mr Korobov's mind imho.

[ravin146] 10/12/2014 17:13

800k leads to a 0.15p drop, bonkers! Df is completely out of touch with his investors and living on another planet. In hindsight, we should have listened to natlata and got rid of these guys. The oil deal would still have come, or they would have given a temporary loan whilst a new deal could be signed. Hopefully I'll eat my hat and they prove my rant wrong but this is seriously taking the mikey.

[woodpecker25] 10/12/2014 16:57

Are they waiting for the city boys to all leave for their carribbean holidays before announcing the news....

[rcturner2] 10/12/2014 16:54

ravin, I bought UEN at 4.375p just a small dabble. Standing still at the moment, which is a miracle in this market.

[steelwatch] 10/12/2014 16:53

spudders - I think you may have meant Des Burke?

[spudders] 10/12/2014 16:50

KIBO doing well for Des Burke if he still holds there after he retired. Not sure if we hit an extra 500 bopd the share price would move much in these markets. Let's see if PTR post a Christmas card as they used to do in the early days to give us down trodden investors some Christmas cheer, failing that I'll be happy with a rns before year end.👍

Edit,

[ravin146] 10/12/2014 16:47

It does look like 5p tomorrow! Not looking good at all, a 50% rise from here will only take it to 7 if really good news! Not looking good at all! Will make a judgement start of the year, if still at these level may change my position for sure. Gla

[dipla] 10/12/2014 15:40

Looks like 5p soon, if it react to 100k sells and that that support line is now broken!

There must be news this week, how can they fail on their promise again and not release any news, not long to go to the thin markets so not good at all!

gla

[ravin146] 09/12/2014 19:17

How are your uen shares doing?

[ravin146] 09/12/2014 18:55

Coming to a week now since the oil barrel, waiting for that rns on the other drilled well. Only really a week and a bit left, it will be odd if we get no news at all, but I won't be surprised. With oil prices free falling, I can see this drift back to 5p if investors get nervous

[base98] 08/12/2014 12:38

Steel, Yes the OIL deal is exceptional in today,s climate. Think PTR did well to close-off when they did and it leaves 2015 looking good IMO.

[steelwatch] 07/12/2014 16:31

Base - no problem. It's just as much for my benefit as anyone else's. Farm out to OIL is looking increasingly attractive in light of subsequent events oil pricewise.