Petroneft Resources Share Discussion Threads

[parknas] 29/4/2014 09:19

Did anyone else get a phonecall asking them how are they going to vote?

[steelwatch] 29/4/2014 05:54

toon - What I said is correct:


steelwatch
28 Apr'14 - 16:39 - 25721 of 25732 0 0 edit

Sean - the whole small cap oil & gas sector is out of favour by and large.



You may find the odd exception, but EME was much higher back in the day, as were many others. E&P is out of fashion generally.

[paherne] 29/4/2014 04:27

It's said nowhere except in the EGM notification:

Section 4:
..
..
OIL also has the right to become the Operator of the Licence should there be a substantial change in the management team of PetroNeft within the first three years which OIL believes not to be in its interests.

Key Information -> The Natlata EGM
..
..
The Licence 61 Farmout is conditional on Shareholders voting AGAINST ALL of the Natlata EGM Resolutions.

[steelwatch] 28/4/2014 22:27

Db - I think Natlata are counting the full Macquarie facility, but it didn't all get drawn. Certainly trying to mislead if this is so. Let them break their figure down and justify the total.

[dbarr0n] 28/4/2014 22:14

steelwatch ...
I may be wrong but I make the total cash received by the company to be in the region of $ 170 million of which $ 165 million has been spent on what we have to date.
Approx $ 134 million being the proceeds of placings and $ 36 million from debt.

[telegraph1] 28/4/2014 20:27

Don how you vote is your business but I certainly would not vote for them I doubt they will win but if they do they will strip this company bare the price would never rise

[steelwatch] 28/4/2014 19:08

Db - I think they have simply added all the placings and debt together, but what we are left with out of it is 2 licences, reserves and infrastructure, plus further potential now unlocked by the OIL farmin, which also clears the debt.

[dbarr0n] 28/4/2014 18:35

Katsy, Its you that is wrong, but that's nothing new..

17th march 2014
Production higher at 2,400 bopd, reflecting improved well performance.

Jasper, They have spent approx $ 30 million on drilling development wells the rest of the expenditure was on seismic, exploration wells, processing facility, pipeline and admin.

The seismic and exploration wells have discovered 7 new oil fields and increased P3 reserves by 100 million barrels.

The processing facility and pipeline are capable of handling over 14,000 bpd so plenty of capacity for the future.

By the way, Show me where they have gone through $ 200 million ?.

[telegraph1] 28/4/2014 18:07

Toon what's going on with serica why is the price dropping

[katsy] 28/4/2014 17:12

2300bopd get it right! probably even less now

[jasper2712] 28/4/2014 17:08

Db you forgot to mention that they have also worked their way through 200 million to achieve a measly 2400bopd.

[steelwatch] 28/4/2014 16:39

Sean - the whole oil & gas sector is out of favour by and large.

[seangwhite] 28/4/2014 16:19

Db

I respect your posts and agree with a lot of what you say.
The fact of the matter though is the share price shows how the market views the Company and its management.
DF has a large number of shares in his own right and so would obviously like the share price to be higher.I believe the BOD does need some new blood but do not see the Natlata boys as the long term answer.
Lets get the EGMs out of the way and hopefully get production up, if some more high profile BOD mebers could be got on side it would help in getting real value for PTR.

GLTA

[denis black gold] 28/4/2014 15:39

SP still slipping... If the BOD were hoping that a share price surge post farm out deal would help solidify their positions they must be bitterly disappointed with the constant slippage,as am i...!!! However disgruntled shareholders are, i feel if the Ruskies get their conjuring hands on PTR then it is game over for all of us PIs for sure..!! Not even megga Oil India will tangle with that bunch, and that i believe speaks volumes re. this lots intentions and pedigree...!!!

[steelwatch] 28/4/2014 15:23

Db - a windup merchant for sure:



Dirty tricks may be expected in the run in to give the impression of greater support for Natlata than really exists.

[dbarr0n] 28/4/2014 14:22

j284..
Make up your mind, you cant have it both ways.
OIL are willing to come in as partner but not if Natlata are involved..

[j284] 28/4/2014 14:13

I agree with toon, I'm voting the same. He has proved to be very savvy on many occasions.

[dbarr0n] 28/4/2014 12:56

If you hold the shares in your own name you can vote online at www.eproxyappointment.com

[filterwest] 28/4/2014 12:46

Hi guys, can I vote online?

[dbarr0n] 28/4/2014 12:35

toon, This is some of what they have done..

Bought licence 61 in 2005
Bought licence 67 in 2010
Acquired over 1000 km of high resolution CDP seismic
Reprocessed 6,500 km of old seismic and reinterpreted logs from 35 previous wells
Drilled 12 exploration / delineation wells
Increased 2p reserves by over 100 million barrels to 131 million barrels.
Increased 3p & P4 reserves and resources by 450 million barrels
Built 60 km export pipeline from CPF to Imperial energy
Built central processing facility (Capacity 14,800 bpd)
Built 10 km pipeline from Arbuzovskoye to CPF
Drilled 30 development wells.
Production 2,400 bopd.

[spudders] 28/4/2014 10:51

Plenty on offer on L2, LO on offer but no bid, overhang?

[sleveen] 28/4/2014 10:37

quite a lot of infrastructure IMV.