Petroneft Resources Share Discussion Threads

[griffin63] 15/12/2021 11:37

I agree it's a target.
My feeling is 67 is the key.Why take 90% control?
That increases their financial commitment both long and short term.
I would say on balance they have done that to sell it.
The new resource estimate will now include results from L2 that weren't allowed until liner fitted.They could have been producing circa 300 bopd but no water separation facilities.Heard nothing since.
It appears to be very concentrated on L61.Frac programme possibly increased.
There's a real possibility they could be doing 2 to 2.5 k bopd by end of winter on 61 alone.
It's all good.

[filterwest] 15/12/2021 11:36

Good news! Management know what they are doing. Time for a top up.

[jfreshfield] 15/12/2021 09:27

Absolutely. Internal cashflow being used to repay debt. Remember also the debt they never used in putting in place the all weather road and drilling C4. It's starting to generate good cashflow just needs to ramp up BOPD. Hopefully fracking plus L67 ramp up will make this highly attractive acquisition target for anyone. I am convinced this is still a potential target particularly given L67 success to date.

[griffin63] 15/12/2021 09:12

I feel its all stacking up very well.
Refinancing on improved terms,better to have money making money and also keeps number of shares low.
Compared to some others I could name our debt looks pretty paltry.

[jfreshfield] 15/12/2021 08:54

I think these are all fair which is why it is important to see what the ops update says and also where the reserve report comes out

[silverspoon2009] 15/12/2021 08:30

My concerns, how well is existing production standing up, the historic problems have always been production declines.

Today's news seems to suggest that no sale of the company is imminent and the CEO who was so lively promotionally earlier this year has gone quiet.

Let us see where this settles but I have to suggest the situation is not quite as rosy as it looked earlier this year.

Add to the mix the political risk that is rearing it's ugly head once again. concerning all things Russian.

[connello] 15/12/2021 07:44

an important step. This was highlighted as an issue at the Interim results in September. The resource update tomorrow or Friday would be another boost for the company and some Kudos to Management

[jfreshfield] 15/12/2021 07:11

I also love a loan repayment and the fact they are talking about refinancing the lot (I assume on much better terms)

[jfreshfield] 14/12/2021 21:54

I love a good presentation.

[jfreshfield] 14/12/2021 16:02

Yes I hope they can actually pick up a little on the newsflow because at the moment this is painful.

[kevjones2] 14/12/2021 15:10

The worst thing that could happen now (in terms of communications) would be a generic RNS on Friday stating that "all resolutions at the AGM were passed", and nothing else.

[johnswan193] 14/12/2021 14:21

PTR has tendency to move prior to news. The direction is usually indicative of the news to come.

[jfreshfield] 14/12/2021 14:07

Zero volume just dropping due to management not delivering.

[kevjones2] 14/12/2021 14:04

Agreed, chris.

[chris cat] 14/12/2021 13:54

Still low volume but the scars of the past soon emerge when the share price drops and we have delayed news. Here's hoping for something good before Friday

[telegraph1] 14/12/2021 13:44

Here we “””;”ing go again why would this happen now unless bad news was at play hung for a sheep as a lamb

[spudders] 14/12/2021 13:37

I’m hoping this is just a tree shake prior to good news 🤞🏻

[seangwhite] 13/12/2021 23:23

Hard to see this moving much until they get some sort of sale of the assets or a significant part of them. Resources variations priced at circa 50 cents per boe mean little currently to the market.

[jfreshfield] 13/12/2021 20:44

Struggling to understand the hold up really. This should be at 5p

[parknas] 13/12/2021 14:00

Maybe on Thursday.

[jfreshfield] 13/12/2021 13:24

Four days to AGM statement. Bloody reserve report needs getting out.

[bmw30csl] 09/12/2021 11:06

Thanks jfreshfield!

[jfreshfield] 09/12/2021 10:21

This is helpful https://twitter.com/oilgastracker/status/1465647273484951552?s=21

[seangwhite] 09/12/2021 08:42

On those figures PTR is valued at roughly 50 cents a barrel for 2p - hardly a heady valuation even for Russian assets.