Petroneft Resources Share Discussion Threads

[bmw30csl] 27/5/2014 14:38

Nice and quiet here while we await approvals for the new wells. If this company was to IPO today it would be quite surprising the valuation the banks would come up with - not saying it would be fair but they would start attributing value to the resources as well as the reserves and would also draw a line to 10-15k bbls/d with 5-7.5k net to us generating >$20mn cashflow which they would put on a lofty mutliple as room to keep growing given the resource base. I would see them coming up with a 20p valuation.

I think with a few good well results we could see double digits before year end.

[spudders] 23/5/2014 13:55

Man1, maybe but l2 only gives you so much info. If Davy get off the offer next stop is 6.1p. This is AIM, so who knows wtf is going on, we need more transparency on the whole.

[man1] 23/5/2014 13:44

Does that mean someone has a buy order in . the same person who bought 11 million .?

[spudders] 23/5/2014 13:04

Had another tiny top up today :) L2 looks good for sellers but not so for buyers, max buy 250k :( Have a good weekend all.

[spudders] 22/5/2014 16:47

Have the brakes been taken off, finished up 1.3%. I remember the good old days of 10-20% rises, maybe one day we will get a whooooooooosh :)

[seangwhite] 20/5/2014 20:34

Thats right Steelwatch lets hope it marks a new era for PTR in getting rising production and less vague RNSs!GLTA

[steelwatch] 20/5/2014 14:53

Jasper - Halliburton will be supervising the horizontal section. Global leaders in the field.

[jasper2712] 20/5/2014 14:46

Natlata should be filling their boots as they were promising to do when the share price looked under stress but with the share price drifting downwards maybe they are influencing this fall.
The drilling operators that seem to be in favour with the BOD - are they capable of horizontal drilling and is this going to include fracking?
Natala had a point when they brought into question the drilling arrangements.

[dbarr0n] 19/5/2014 23:12

They plan to drill up to 5 more wells on Arbuzovskoye, these should average above 100 bopd, so say IP for new wells on Arbuzovskoye 500 bopd
Then drill up to 5 horizontal & 6 vertical wells on Tungolskoye if the T-5 test well is successful. 6 vertical = 150 bopd each, 5 horizontal x 1000 mtrs = ? 1000 bopd+ each, and T-5 300 mtrs = 500 bopd so say IP for Tungolskoye = 6,400 bopd
New Arbuzovskoye & Tungolskoye = 6,900 bopd + 2,400 bopd current = 9,300 bopd
Allowing for decline rates we should still be looking at total over 7,000 bopd early 2016 before they start developing Sibkrayevskoye.

[ravin146] 19/5/2014 17:51

Surfer thanks for that, good response to potential for the 10 wells lined up.Not sure why this is sneaking back to that 5p level again...why on earth would you sell at this stage?! No brainer to hold on now that the farmout has been confirmed and awaiting regulatory approval. Gla

[surfer2] 19/5/2014 14:25

the new EGM presentation on PTR site. the horizontal drills are aiming for at least 250 if not 500 bopd . thats what was said at the Egm. in my understanding, the whole point of horizontal drills is that the oil accumulation is shallow but relatively large in surface area. so in theory horizontal wells should be much more productive . Providence did something similar at Singleton oil field - i think they quadrupled production using a horizontal well .

at EGM PTR quoted that a well cost only 1 to 1.5 million $ each. so the cash left over after debt is paid off via the new deal gets them up to 15 wells i think...if they choose to drill that many... they will drill the first horizontal and evaluate strategy based on that result. We should be a lot clearer re. the outcome for the next 12 months by the 1st drill results around end of July. just 10 weeks away .not long to wait

mobilisation soon , and drilling of 1 well in tunglestoye in early July . if thats successful theres plans for up to 5 horizontal and 6 vertical wells on tunglestoye alone in 2015.
right after Tunglestoye this year , theres 5 wells planned for Arbuzovskye from sept 2014 through to Jan 2015 depending on the results of the first well on that structure, . And theres a 1st well planned for Sibraskoye ( already has 50 million P2) in spring 2015. DF hinted that a doubling of P2 here to 100 million barrels would not be considered a surprising result ...or words to that effect

So it could be continous drills from July 2014 to Summer 2015. thats what the Oil india deal is paying for i understand... looks like a busy autumn for PTR. the horizontal Tunglestoye drill this summer is key imo. thats where any re rating should begin imo . GLa LTH

[steelwatch] 19/5/2014 13:53

Which 10 wells?

[rcturner2] 19/5/2014 12:54

To double production with 10 wells would need every well to hit 250 bopd. To triple production would need each well to hit 500 bopd. Does that seem likely?

[surfer2] 19/5/2014 12:52

maybe they are just content to buy low....set a base under the share price and support the companies recovery.if the company drills 10 wells in the next 18 months and if they double or triple production to 5-7.5k per day then the share price might be triple or quadruple where it is now with more to come a few years the down line. so Natlata make a lot of money in that scenario also. and the ultimate value of the licenses for deep drilling potential is very interesting. the 2 licenses are over the Worlds largest oil shale play...the Bazhenov. didnt realise thsi until last week

[seangwhite] 19/5/2014 08:46

Natlata seem to still be buying so whats the plan for an exit by them?GLTA

[ravin146] 17/5/2014 11:24

P10 of shareholder presentation summarises the plan I was after! ...So I don't expect an rns until we have regulatory approval in June and then one in Aug/Sept on a first update on the horizontal drilling. Gla

[currypasty] 17/5/2014 06:54

thanks spudders



drilling end june Tungolskoye No. 5

[steelwatch] 16/5/2014 21:49

Thanks for the pointer spudders.

[spudders] 16/5/2014 20:00

PTR web site has been updated, investors presentations page is worth taking a look at, 44 page document post farm out. Have a good week end all :)

[thetoonarmy2] 14/5/2014 23:46

Trawl it certainly is now but they will have to buy in the market do you really care if it's Natlatla or anyone else as long as price rises I couldn't give a stuff I just want to make money, don't you?

[trawl] 14/5/2014 23:44

now this is the best takeover target in the market
natlata were against farmout till it was obvious they could not stop it
had they got control the small investors
would been laughed at as the co would have been stripped of any assets of value
lic 61 is worth at least 160 mil dlrs
there is infrastructure in place hopefully we can move forward

[trawl] 14/5/2014 23:44

now this is the best takeover target in the market
natlata were against farmout till it was obvious they could not stop it
had they got control the small investors
would been laughed at as the co would have been stripped of any assets of value
lic 61 is worth at least 160 mil dlrs
there is infrastructure in place hopefully we can move forward

[thetoonarmy2] 14/5/2014 22:31

For what it's worth once the oil India deal is ratified and loans paid off this becomes the best takeover target on the market and guess who has a 15% stake! they lose the EGM yet they still win.

[jammytass] 14/5/2014 17:42

holding rns will be good clue