Petroneft Resources Share Discussion Threads

[steelwatch] 04/2/2015 13:26

Db - Bopd for License | Bopd for PTR - titles reversed?

edit - fixed.

[dbarr0n] 04/2/2015 13:11

ravin.. It is in the header, Dubhgeannains Production Spreadsheet.

[ravin146] 03/2/2015 20:34

Can someone not graph that data and put it on the header...it's all about total production...?

[dbarr0n] 03/2/2015 19:15

The way oil is trading it could be back over $ 60 tonight...

[granto2] 03/2/2015 17:11

chris …..the Afren board is brutal. can't read it, but keep an eye there… rammers galore.

[chris cat] 03/2/2015 16:42

RCT - The Afren board used to be great - good comments on the company and some guys with a good sense of humour but since the troubles hit, all the clowns under the sun just post nonsence and its ruined a good board. Seems like that happens a lot when a share is flying or crumbling, I've just stopped reading it now - I think we've had a few here at various times over the years.

Sorry for O/T

[dubhgeannain] 03/2/2015 16:22

Okay. Spreadsheet updated with Oil India 50/50 split added.

[granto2] 03/2/2015 16:13

very detailed RNS…..and a good result too, very good result

[seangwhite] 03/2/2015 15:26

DbLooks like it will take a few good RNS updates on drilling and rises in output before we see any rerating of the share price Let's hope the next horizontal well comes in good and ideally in less timeVGLTA

[dubhgeannain] 03/2/2015 15:13

Hi Dbarr0n. Thanks for the detailed data. Of course it should have all the updates (I did mention it was off the cuff and I only skimmed through the previous updates). The spreadsheet is open for editing so feel free to work away if you want. I'll add your numbers above anyway when I get the chance.

I believe it's quite relevant. Particularly from the perspective of the company's aesthetics. I hope the most recent ramp up in production will mark the start of a continual increase (slightly tapered at times due to natural well declines).

It may be on the simplistic side and your suggestion about the well numbers is valid but I think the headline data is "total production" especially for a potential investor casting a cursory glance at the stock. I'm also aware that they're giving away 50% of the production. But the main point is to show that the fields are producing and production is increasing. Would you not agree?

[dbarr0n] 03/2/2015 14:52

31st May 2012: total production stable at 2,200 bopd
29th June 2012: Well A1, 350 bopd total production 2,200 bopd
13th August 2012: 2 Lineynoye wells converted to water injectors total production 2,000 bopd.
19th September 2012: Total production 2,000 bopd.
24th September 2012: Well 101, 310 bopd. Total production 2,300 bopd.
11th October 2012: Total production above 2,200 bopd.
22nd October 2012: Well 102, 540 bopd. Total production above 2,700 bopd.
23rd November 2012: Well 109, 100 bopd. 4 wells offline total production 2,500 bopd.
18th December 2012: Well 111, 150 bopd. 3 wells offline total production 2,800 bopd.
8th February 2013: Well 112, 140 bopd. Total production 2,600 bopd ( Not including well 112 at 140 bopd ).
21st March 2013: Well 105, 160 bopd. Total production 2,800 bopd ( Not including well 112 at 140 bopd ).
28th June 2013: Total production 2,600 bopd. Well 212 converted to water injector.
11th September 2013: Total production 2,500 bopd.
3rd December 2013: Total production 2,300 bopd.
16th January 2014: Total production above 2,300 bopd.
17th March 2014: Total production 2,400 bopd.
4th July 2014: Total production 2,100 bopd. PetroNeft 50% = 1050 bopd.
19th August 2014: Total production 2,000 bopd. PetroNeft 50% = 1000 bopd.
18th December 2014: Well 106, 170 bopd. Total production 1800 bopd. Petroneft 50% = 900bopd.
3rd February 2015: Well 103, 125 bopd & Well T-5, 604 bopd. Total production 2450 bopd. Petroneft 50% = 1225bopd.

[dbarr0n] 03/2/2015 14:47

For it to have any meaning it should have all the updates and show new well Nos underneath when they came online.

[woodpecker25] 03/2/2015 14:42

It doesn't depict "drilling success", but it does show how much oil the company has been producing (subject to minor inaccuracies). Surely that has to be useful info!

..if only to give context to the future (improving?) production figures.

[dbarr0n] 03/2/2015 14:20

Rc... Its not exactly, he left out increases in production.
Regardless its not a relative, it would be if the were consistently drilling for the period..

[rcturner2] 03/2/2015 13:51

It's useful info though, no one should be scared of the facts.

[dbarr0n] 03/2/2015 13:48

Dubhgeannain..
That graph is not relative as there was little or no drilling done for most of the time frame you used.
Production from very oil field in the world declines without new wells being drilled..

[rcturner2] 03/2/2015 13:30

One thing that puts me off Afren is the bulletin board thread. It is mostly populated by idiots spouting nonsense. This is never a good sign. I prefer to buy shares where the bb is quiet and the posters (mostly) intelligent.

[seangwhite] 03/2/2015 12:30

Well it was a good result and the market reaction seems subdued.The way the RNS was presented is also welcomed being clear and setting out a clear way forward.

If PTR can maintain the momentum with the horizontal wells this could turn out to be a good year. The long term holders here really deserve a bit of good news for a change

Over at PCI there is a similar rise in the share price this morning on nothing more than idle gossip and the awful rumour of Big Brians removal.

VGLTA

[steelwatch] 03/2/2015 11:41

Dubh - I'll put a link to your spreadsheet at the bottom.

[dubhgeannain] 03/2/2015 11:25

I couldn't help myself and went back trough a few of the old operations updates, just to the end of 2011. I might have missed a few in between but the picture is pretty clear. Static to declining production from the end of 2012.

Link to plot here:

If the thread moderator wants to include the chart in the thread header, the link to the numbers is here:

It can then be updated as we go along. Could be interesting to look back on in 3 years time ;)

[dbarr0n] 03/2/2015 11:24

Production up 35%
Well A-103 = 125 bopd
Well T-5, 350 mtrs horizontal = 604 bopd.
Well A-104 (5.4 m of net oil pay)to be in production within a week.
Well A-107 Spudded on 01/02/15, expected to take 4 weeks.
Development of the Tungolskoye oil field will now proceed immediately.
Sibkrayevskoye No.373 to spud later this month.

[rcturner2] 03/2/2015 10:55

Afren is still very good value long term, if it survives. Trouble is far too many people buying Afren do not seem to realise it is on the verge of collapse. I am happy to wait until the uncertainty is removed.

[granto2] 03/2/2015 10:47

everyone is tied up with Afren today…..its mental there. Not ramping or promoting it cos the value is probably gone …. but its trading like a loon.

[dubhgeannain] 03/2/2015 10:37

Doesn't look like there's a massive demand on the back of the RNS... yet. I think we all expected that.

I have to say though, I'm delighted with it. They got communication style bang on this time. No mealy mouthed open statements. I guess because of the solid positive results. Let the drilling and production increases continue.

News will filter through eventually (when oil recovers sufficiently) of this company with no debt, increasing production, definite roadmap and massive reserves.

[granto2] 03/2/2015 10:28

WTI up Brent up….PTR hit the jackpot and its up a little….oh well….congrats to all here...