Petroneft Resources Share Discussion Threads

[rcturner2] 28/3/2014 09:12

toon, I am no fan of the BOD, but we need to be careful assuming that Natlata are the solution to the problems.

I have seen too many examples where small investors get shafted in this situation. EXI being the latest example.

[katsy] 28/3/2014 08:55

PS, what would the share price be right now if Natlata didn't buy up 16% of the company?
What would that have meant for the recent placing? The placing would probably had been at 2p, and probably resulted in a 150m+ extra shares for the same amount of money raised. That wouldn't have made the current BoW too clever then, will it.

[rcturner2] 28/3/2014 07:51

My view is that we will get a deal valuing the company at 12p a share and we will be lucky to get a rise to 8p.

[spudders] 28/3/2014 07:11

Keep the faith, value will out very soon ;)

[blues70] 28/3/2014 07:07

Still nothing -staggering and unbelievable.

[seangwhite] 28/3/2014 06:42

Let's see how Natlata try and bring other holders around to their side as yet they have not had too high profile.The recent placing obviously came with somewhat upbeat projections by our BOD for the 'near finalized' deals which will obviously now miss Q1.I am happy to hold for now as someone will sort out the debt situation and hopefully the very low SP, frankly I do not care who does it. The next few weeks will be interesting and I hope profitable.GLTA

[trawl] 27/3/2014 23:51

natlata could tell everybody the ten questions put to management
as could management. the website does not give any detail
calling an egm if required by law has to be done
the main problem is if the farmee decides to walk away
then options are limited to more dilution
and arawak may take a different approach
they are owed 16.5 mil and they did not loan the extra money without
some guarentee there may be a situation where arawak can call in debt
with lic 61 as security

[carlo sartori] 27/3/2014 23:21

I'm with you on that one denis.

[man1] 27/3/2014 21:51

This will end with a deal with a international oil company with us retaining a low % of the licence and the international company been issues a % of the parent company in order to save the directors jobs through nat's dilution .

[oilretire] 27/3/2014 21:29

And the co handling media inquiries



And in particular Tom & Stuart



Oh oh, Exillon is a client ;-)




Natlata are clearly not going to back off. I welcome this. Gloves off......

[oilretire] 27/3/2014 21:23

Over the coming days and weeks we will be posting announcements and other relevant information on this website. Please feel free to contact us on [e-mail] if you have any questions......

[denis black gold] 27/3/2014 19:22

Back 6% more today and posts still mention 30p up...!!! 30p = approx 45 US cents. 45 cents x current issued shares = Market cap of over $300 mill...!!!! Half that been what our farm in partner is "supposed" to in line for.... So will PTR receive $150 mill for 50% of L 61... NOT on your life.... 30p a total pipe dream given where we are now, with our backs to the wall and the natlata firing squad locked and loaded... Gone from 450 to now over 700 mill shares. Massive recent dilution to raise what, a petty few mill dollars..... Nat are not, and should not be the only DISGUSTED shareholders voicing their opinions here.....

[rich2006] 27/3/2014 19:00

It's all well and good natlata blowing hot air about removing the board but what is their strategy once they remove the board. What are they going to do differently to what the current board have done to increase production.
How are they going to fund further drilling?. 10 million will not go far
How are they going to pay Arawak back?.
Natlata will need to up their game if they are to get investors to side with them.imo

[thetoonarmy2] 27/3/2014 18:50

Quality! Come on comrades give the paddys a good rogering:)

[ningalooreef] 27/3/2014 17:27

Is the 21 days up on Tues. 1st? So the BoD should confirm by then whether they are going to accede to Natlata's request for an EGM?

[denis056] 27/3/2014 17:03

True Steel. These Russian Mafiosos can talk at say 30P up

[steelwatch] 27/3/2014 17:01

Convening of extraordinary general meeting on requisition.

132.-(1) The directors of a company, notwithstanding anything in its articles, shall, on the requisition of members of the company holding at the date of the deposit of the requisition not less than one-tenth of such of the paid up capital of the company as at the date of the deposit carries the right of voting at general meetings of the company, or, in the case of a company not having a share capital, members of the company representing not less than one-tenth of the total voting rights of all the members having at the said date a right to vote at general meetings of the company, forthwith proceed duly to convene an extraordinary general meeting of the company.


(2) The requisition must state the objects of the meeting and must be signed by the requisitionists and deposited at the registered office of the company and may consist of several documents in like form each signed by one or more requisitionists.


(3) If the directors do not within 21 days from the date of the deposit of the requisition proceed duly to convene a meeting to be held within 2 months from the said date, the requisitionists, or any of them representing more than one half of the total voting rights of all of them, may themselves convene a meeting, but any meeting so convened shall not be held after the expiration of 3 months from the said date.


(4) A meeting convened under this section by the requisitionists shall be convened in the same manner as nearly as possible as that in which meetings are to be convened by directors.


(5) Any reasonable expenses incurred by the requisitionists by reason of the failure of the directors duly to convene a meeting shall be repaid to the requisitionists by the company and any sum so repaid shall be retained by the company out of any sums due or to become due from the company by way of fees or other remuneration in respect of their services to such of the directors as were in default.


(6) For the purposes of this section, the directors shall, in the case of a meeting at which a resolution is to be proposed as a special resolution, be deemed not to have duly convened the meeting if they do not give such notice thereof as is required by section 141.

[steelwatch] 27/3/2014 16:52

"Furthermore it is now more than two weeks since Natlata delivered its requisition for an EGM"

They have 21 days under Irish Company law I believe.

[coscos] 27/3/2014 16:32

As I mentioned, the Russians will not just walk away. They will now actively pursue all shareholders with a sizeable holding in order to force change. This is opportunism at its very best, and at its most dangerous in true Russian fashion.

[steelwatch] 27/3/2014 16:31

Recommend the novels of Zane Grey for bushwhacking claim jumper techniques.