Petroneft Resources Share Discussion Threads

[kevjones2] 28/7/2021 16:05

Regardless of Dublin exchange it does look like news is on the way.

[kevjones2] 28/7/2021 15:47

With regard to the share price on the Irish Exchange, I queried this with Goodbodys a few years ago because sometimes the price differences between London and Dublin were extraordinarily large. I was advised to completely ignore the Irish price as Petroneft is a very illiquid stock on that exchange. I pushed them by suggesting it must mean something (at that time Dublin was 2c while London was much higher at 2.8p). The guy repeated that the share price in Dublin for PTR is utterly irrelevant and all buys and sells are based on London figures. He was a bit abrupt because I pushed him hard on the point becuase the Dublin exchange is usually very accurate.

Anyway, a few weeks later I rang again when London was 2.2p and Dublin was a bit higher 3.3c, IIRC. I asked for a buy price in euro and was given 2.68c. At the time this translated to exactly 2.2p. As it was a different bloke I was talking with I asked him why it says it's 3.3c on the ISEQ, and I got the same reply - disregard prices for PTR on the ISEQ. It was the same with a few other companies.

[goldenshread] 28/7/2021 15:33

Petroneft are sitting right next door to one of the largest oilfields in Russia, no wonder it is hard to buy at current levels.

I posted this recently....



In my view Rosneft would be buyers of Licence 67 if not the whole company, they operate the Samotlor Oil Field which is one of the largest in Russia, this oilfield adjoins PTR's Licence 67 as can be seen in on page 5 and 6 in the link below.




In the recent CEO podcast this field was mentioned (but not the operator) it seems Petroneft management are a little shy about mentioning names of majors nearby, draw your own conclusions as to why !

I have continued to add to my already substantial position.

[johnswan193] 28/7/2021 15:00

HL not providing any quotes whatsoever.

[space_dust] 28/7/2021 14:31

Can't buy a single share online currently.

[broken_arrow1] 28/7/2021 14:19

Strong buying today and the 4p+ offer price on the Irish Exchange suggests something is brewing.

Not a time to be out, limits are increasing again, they want 3.6p for just 150,000 shares.

[mrmcnee] 28/7/2021 13:53

For those who may be new here (or on-looking) Petroneft management, supported by the major shareholders, have in effect put themselves up for sale and have suggested conditions have never been better for a transaction.



Many longs believe the major shareholder would accept nothing less than 10p a share as a base price, equating to a value of circa £110m, at one time Petroneft was valued at £275m

Management & debt holders have recently converted loans into shares, which is another sign a deal may be close.

Plenty of upside from here.

[broken_arrow1] 28/7/2021 12:55

I noticed in June this moved from 2.8p to 4.7p in only 6 trading sessions, it could easily happen again.

Only 200,000 shares available at offer with IG then it moves up.

[loganair] 28/7/2021 11:03

Oil is taking a well-earned rest. But the bull market isn’t done yet:

The oil price has more than doubled in the last five years. It’s come off the boil recently, but in the longer term, things are still looking good. Dominic Frisby looks at what’s next for oil.


Oil wants to sell off right now, but demand will only increase:

Now we are feeling a bit jumpy again. Oil looks like it wants to sell off. In fact, last week it did sell off – it lost ten bucks in barely the blink of an eye. But now it’s bounced back again with impressive vim. Then again, it does now seem to be in something of an intermediate-term downtrend.

The spat between Saudi Arabia and the UAE over oil production quotas seems to have abated, and now the Opec nations together with Russia have agreed to increase their output with the aim of reducing prices and easing pressure on the world economy. The supply boost starts in August.

Please don’t ask me to explain Opec or how that line of thinking works. Surely if you are selling something you want to get the most you can for it, not the least? If you are an oil producer you want a bull market. Especially if oil supplies really are running down – the pressure to get the biggest return intensifies. Surely? They’re not producing oil for the fun of it, or for charity.

It’s always baffled me, and no doubt there is some kind of geo-political shadiness behind the scenes that explains it all, but in the meantime I shake my head and carry on.

With some broad brush strokes, oil demand, green energy revolution or not, is set to increase. The Covid setback will look like a blip on a long-term chart of oil demand – falling by around 10% before bouncing straight back – and demand now looks set to hit 100 million barrels per day next year.

I keep banging the drum on this: the Green Energy Revolution is going to increase oil demand. Meanwhile social pressure and government pressure, through taxes and laws, will mean reduced expenditure on exploration and development. The result will be higher prices.

So my outlook is that we consolidate over the next few months, we back and fill. We might even go back and have another look at $50. But in the longer-term, oil goes higher – much higher – and oil at $100 in 2022 is not such a remote possibility.

[parknas] 28/7/2021 10:51

When I first saw the ask at 0.0495 I thought it must be a mistake.
Maybe not.

[mrmcnee] 28/7/2021 10:29

If the ask in Ireland is 0.0495 that equates to 4.25p here, currently trading at 3.3p

[rolo7] 28/7/2021 10:29

if there is a sell of somekind debt loan notes have to be paid first which have been stated in rns a few times.

[parknas] 28/7/2021 10:25

ask in Ireland 0.0495.
News tomorrow?

[imjustdandy] 28/7/2021 10:10

No stock Oil climbing fast

[broken_arrow1] 28/7/2021 10:02

Only 250,000 at full offer with IG currently, most retail brokers using Proquote it is 'at best' only

Large premium demanded for 500,000+

[space_dust] 28/7/2021 09:38

Zak Mir covered PTR a few days ago, his short term target was 5.5p, he has been charting this since it was around 1p and has been on the money so far.

[mrmcnee] 28/7/2021 09:20

Managed to snap up some more earlier before the next rush, they have always been a little leaky so one does suspect news is on it's way.

[broken_arrow1] 28/7/2021 09:17

You have to be nimble to buy Petroneft, always best when it is quiet.

Most are waiting for the company to be sold but in between there are trading opportunities.

[broken_arrow1] 28/7/2021 09:12

4 minutes later from the above post - nothing available online and they want a premium for just 50,000 shares !

[broken_arrow1] 28/7/2021 09:08

Some buying this morning & online buy limits reducing, news coming ?

Petroneft stock moves fast on low volume, recent high was 4.7p

[johnswan193] 19/7/2021 23:15

Very low volume on this also so nothing to worry about.

[organstop] 19/7/2021 22:29

Everything's down, terrible day. No good reason.

[seangwhite] 16/7/2021 11:24

The company has now a decent team directing it. With a steady rise in output proving the OIP can be monetized at a decent profit and the price of oil rising it is looking good for a take out in 22. I am hoping for at least double digits in that scenario. The shares are tightly held and have been for years so nobody is in a rush to cashin on the cheap.

[spudders] 16/7/2021 09:40

Time to pick up a few more whilst in the Doldrums. Just as we get decent management, it appears we will be swallowed up. GLA 😎

[jfreshfield] 14/7/2021 11:05

I think that's right