Petroneft Resources Share Discussion Threads

[rcturner2] 14/1/2015 13:58

db, I think the ditch is the best place to be at the moment lol

[granto2] 14/1/2015 11:54

people who say 'ah bless' are the most annoying. LOL.

[dbarr0n] 14/1/2015 11:45

RCT
An old saying,
The best hurlers are on the ditch. lol

[rcturner2] 14/1/2015 10:52

ah bless, woof woof

[rcturner2] 13/1/2015 18:36

Anyone who listens to forward predictions from experts is a fool. There is not a single piece of research out there that shows that any of the predictions have any validity. Yet punters lap them up. Magazines like IC ask "experts" for their year end prediction for the FTSE for example, yet there is quite clear research showing that the so-called experts are no better than a random number generator. IC still publish them, presumably because the punters want to read them.

[granto2] 13/1/2015 18:31

Here is a good Saudi plan, flood the market with oil, price drops, but all the foil stocks you can, then turn off the supply again, Oillies Rise and Happy F Days they have the stock at half price. oh god…home

[ravin146] 13/1/2015 17:53

Some so called experts bought ptr all the way up to 70p and some are probably buying all the way down to...god know how low...thankfully wasn't me, but hindsight is a beautiful thing. As for oil, predicting oil moves can only be based on demand/supply predictions, which is what goldmans is basing that on. I.e ever changing. Predicting politics, is a different animal, no one can predict. The Saudis are playing a chess game knowing they have a chest of gold/oil indefinitely (well foreseeable future)

[ravin146] 13/1/2015 17:23

Well done to the small minority that shorted this, wonder if that is a close transaction, as didn't support the share price Lol rct, just here as his mates advisor, has a good point. It's like buying a gallon of milk when you just really needed a pint! Imo oil will fall towards 35-42 region, so will ptr testing 3p soon. Interesting to see sound oil pulling out of takeover when you would think cheap assets out there, but this is certainly testing the small oil and gas comp not just in the US but actually globally.Gla will need to ride this storm!

[crudde99] 13/1/2015 15:24

A Board buy would be a miracle that's why I doubt very much that it is...!!!

[base98] 13/1/2015 15:14

Yes a Board buy would be good.

[base98] 13/1/2015 15:14

Yes a Board buy would be good.

[spudders] 13/1/2015 15:07

Base98, not me this time, you never know it could be a director BUY. I'm not adding at this stage, my cash is better off buying commercial property and getting a decent roi rent.

[base98] 13/1/2015 15:00

spudders..........is that another million @ 4.05 in your holding? GL

[loganair] 13/1/2015 14:53

Price of oil down another $2 1/2 per bbl, down another 5%.

[steelwatch] 13/1/2015 14:22

RCT - DF said they got into difficulties on pad 2 Lin due to drilling too low on the structure. The central handling facilities, which are expandable, were designed to take production from surrounding fields, but the difficulties with pad 2 starved the company of cash to develop, apart from part of Arbuzovkoye, the facilities will take production from Tungolskoye and, initially at least, from Sibkrayevskoye too, plus any future production from elsewhere in the Northern part of Licence 61.

[rcturner2] 13/1/2015 13:45

Granto, look at the PTR share price chart above. There was a rise to 70p and then a crashing fall afterwards when the problems at Lin were revealed. The production facilities can handle up to 14k bopd a day, does that give you an idea of where they thought they might get to? The fields are poor, the fraccing failed and now they are trying horizontal drilling to try and get some decent production. It's 2 steps forward and 3 steps back here every time.

[dbarr0n] 13/1/2015 13:35

Granto...
Production costs will change very little if they increased production to even say 5000 bopd, taxes and pipeline tariffs will make up the most of the costs so in my opinion they should continue drilling while the Dollar/Ruble conversion is at these highs, It has doubled in the last 12 months.

Oil prices wont and cant stay down for ever..

[granto2] 13/1/2015 12:34

RC TURNER. There is natural depletion in every oil field in the world, that's accepted and I don;t think the field here is any different. Yes there have been water issues, again that's hardly uncommon. PTR works around it. I think Lin is pretty ok in terms of water, and Tung has no issues that I know of on T-5. Lets be fair here, there are huge reserves and lots more to discover. For all its issues, looking at it afresh it is a 'fine field'.

[rcturner2] 13/1/2015 12:24

granto - "fine oil field" - er what?

The two operational fields Lin and Arb have both had serious issues with water and depletion.

[kevjones2] 13/1/2015 12:15

Granto, neither side can break the agreement on their own. They could jointly decide to change tack after a review but I doubt they will. OIL's investment in Ptr is chicken feed to them. They will probably be happy to just let Ptr continue with it's drilling. I think it's agreed worldwide that the oil price will go back to normal eventually - the most optimistic saying 3/4 months and the most pessimistic saying 12/18 months. It could work out well for Ptr especially if the drills are evn moderately successful. When investors decide to come back into oil they will look for companies with a solid base. Ptr are debt-free and already producing and that could well be deemed less of a gamble than many other oilies when the money begins to flow back in.

RCT, I think there's some way to go yet with this crisis. I've said it before here but it will be interesting to see how many/which companies go to the wall. I think it's that critical.

[granto2] 13/1/2015 11:56

It could go lower here, but long term this is a fine oil field. If prices stay at this level is there a danger of Oil India and PTR agreeing not to spend the $45M because even successful results will not warrant ongoing production costs? I really don't know so it's a frank question.

[rcturner2] 13/1/2015 11:34

It is starting to look like capitulation in oilers at the moment. Afren down 30% yesterday after reserves downgrade.