Petroneft Resources Share Discussion Threads

[themadstork] 06/6/2014 12:14

I can 100% guarantee that El1te's site is on the level. A quick read through his history will confirm that.

Also no problems detected by Avast. Have you tried a direct link?

[steelwatch] 06/6/2014 12:04

For information only, just clicked that link with the following result:



Maybe a false positive, but perhaps the site owner should have it checked for third party malware.

[mortimer7] 06/6/2014 11:57

The El1te effect? :-

[solooiler] 06/6/2014 10:30

We call this the el1te effect :0). I gobbled up £3k worth at 5.99p this morning to happy already :0D

[mortimer7] 06/6/2014 10:27

4 million bought so far today, up to 6.4p. First sellers/shake just now.

[mortimer7] 06/6/2014 09:27

SP back over 6p this morning for the first time since just after the vote in May. Hope it holds.

[eric76] 06/6/2014 08:18

Progress will come after regulatory approval j as per the rns..

Post Completion Activities

Once the Licence 61 Farmout is completed, PetroNeft will drill up to five additional production wells at Arbuzovskoye and delineation wells at Tungolskoye and Sibkrayevskoye, where significant upside potential and near-term developments are possible. The Tungolskoye No. 5 well will be the first horizontal well drilled on Licence 61. There are also plans in place to acquire additional 2D seismic across the large Sibkrayevskoye oil field and Emtorskaya prospect commencing later in 2014. In 2015 it is likely that the Tungolskoye oil field will be brought into production.

All necessary supplies and equipment for this year's work programme have already been purchased and moved to the field by winter roads to allow for operations to commence upon completion of the farmout, thus ensuring that PetroNeft does not lose a year in its work schedule. It is expected that drilling will recommence in July 2014.

[jyoti1] 06/6/2014 08:07

I have a feeling oil india deal we're mock to save directors in EGM . Where is the progress ????

[rockin robin] 06/6/2014 08:07

Buys 'flying-in' atm..

[eric76] 06/6/2014 07:55

.
Good work El1te imo, agreed its glass half full but they're an interesting play imo now they have the farmin and no more crippling debts hanging round their necks.

[adamnw] 06/6/2014 05:21

Interesting, concise, detailed and, above all, hopeful. Good read.Gla

[el1te] 06/6/2014 00:16

Petroneft Resources - A New Chapter

New write-up on Petroneft available below. Feel free to sign up to free email updates via the right hand sidebar and leave comments on the article



Good Luck with your investments

El1te

[steelwatch] 05/6/2014 12:30

Hilarious, and of great relevance here. Turn up the sound and enjoy:

[rcturner2] 05/6/2014 09:07

Thanks guys for the clarification.

[rockin robin] 05/6/2014 09:01

8m gone through..Interesting..

[dbarr0n] 05/6/2014 09:00

Another holdings RNS might be on the way...

[dbarr0n] 05/6/2014 08:06

RCT....
They can drill multiple horizontal and vertical wells from the same pad, that's not a problem.
Arbuzovskoye and Tungolskoye are very much different, Arb has only about 5 mtrs net pay whereas Tungolskoye has up on 15 mtrs.
Arbuzovskoye is more difficult to drill horizontally than Tungolskoye for this very reason.

[thetoonarmy2] 04/6/2014 19:35

RCT2. Not sure that's right as they can drill deviated wells from the same pad which has surely got to be better than vertical ones, of course will we see some increase in share price once this deal has been ratified and the debts paid down although I wonder if that's when the games start with the different large holders, maybe with luck OIL will just buy the lot lock stock and barrel!

[steelwatch] 04/6/2014 18:45

I think Arbuzovskoye, pad 1, vertical/slant wells were drilled to keep costs low. They are now considering horizontal wells on pad 2. I don't think the problem is to do with drilling off a single pad.

I asked DF several years ago about horizontal drilling and, from memory, he said the technology wasn't widely available in Western Siberia at that time and would in any case be expensive to drill. Maybe lower cost solutions have become more widely available. Near where I live is where multilaterals were pioneered by BP at Wytch Farm. I think there are only a couple of drill pads there.

Also, look at slide 35:

[rcturner2] 04/6/2014 16:26

It may have something to do with the way Arb has been drilled to date using a single pad with wells tied in to the same point. They are drilling arb wells off from the same location at an angle to intersect the reservoir at different points. So I can imagine that they simply are unable to horizontal drill from that same pad that contains existing production wells, hence why they are trying it at a single new location.

[denis black gold] 04/6/2014 16:18

Why are PTR still persisting with V wells at Arbuz field if they now feel that H wells like T5 in Tungol' could be much more productive even if more expensive to drill.....????? I mean the geological factors at both fields must be somewhat similar...!!!! Perhaps if T5 is a success they may drill more of the H type wells in the future...!!!

[rockin robin] 04/6/2014 15:16

A 0.9% rise every day will do...

[woodpecker25] 04/6/2014 14:04

RCT - fair enough.

[rcturner2] 04/6/2014 13:22

Thanks steel. DB in that post says "T-5 300 mtrs = 500 bopd". We shall see.

[rcturner2] 04/6/2014 11:14

woody, I am cold on Russian stocks I'm afraid. I won't touch them in the current situation.