Petroneft Resources Share Discussion Threads

[ravin146] 12/6/2014 20:20

Patience is needed for regulatory approval...on this occasion I'll give the management the benefit of doubt as on the actual presentation it says 'end of may/early june'....yes we are early/mid June now but I would expect an rns at the end of the month that explaining the delay and re assurance that drilling which was expected to start at the start of July will be delayed. Continuous transparency is all that is needed...

[cfccfc1970] 12/6/2014 19:19

Management - who know best and what's involved in getting regulatory approval, and who have advisors who have done this lots of time before - guided us towards end of May / early June....now we are looking at mid June / July.....tiresome at best.

[dbarr0n] 12/6/2014 18:05

Spudders...
The time it takes to get the farm out deal rubber stamped has nothing to do with our management, Its down to OIL and the Russian authorities..

[jyoti1] 12/6/2014 18:04

As I posted before farm out looks drama to save directors ....:(

[spudders] 12/6/2014 17:38

The lack of regulatory approval is having a negative impact on the share price As stated this should be resolved by end of May, but it is Russia. It Does not bode well for management and I can appreciate the lack of interest as it appears to be the same old same old. Once rubber stamped I hope things change :(

[ravin146] 11/6/2014 18:20

Though there is a plan, behind an oversight of a big partner, I hope management have learnt their lessons and frequently update investors with unambiguous text. Gla. Hopefully not far to go now until oil is pumping!

[dbarr0n] 10/6/2014 23:45

roy .. Production is at 2400 bopd.. Once the farm out is officially done that is going to halve to 1200 bopd, but we will be debt free and our new partner OIL will be spending 45 million on the development of the licence over the next two / three years which will increase production figures significantly, As you can see below and Tungolskoye will be developed before Sibkrayevskoye

From the EGM presentation..

US $35 million upfront cash payment
Clears Macquarie debt of US $8.4 million
Clears Arawak debt of US $16.5 million
US $45 million of exploration and development expenditure on Licence 61.
Allows development of new fields at Licence 61
Until the US $45 million is fully invested PetroNeft will not be obliged to invest any
additional funds for Licence 61 exploration and development
US $5 million performance bonus, contingent upon gross production from the
Sibkrayevskoye Field reaching 7,500 bopd within the next 5 years.

[denis black gold] 10/6/2014 20:05

PTR up over 4% in Dublin at close....but back over 1% in London......!!!!! Lets hope for official rubber stamp soon, and that there are no problems with it...GL

[roykeane2] 10/6/2014 15:17

lost a fair bit of interest in recent times whats the story with production rates now???

[seangwhite] 10/6/2014 14:47

Lets hope for some drilling gets underway and a bit more oil to add to ncome and finally P2 numbers.

[surfer2] 10/6/2014 12:18

the consequences of a successful well on the edge of Sibrayevskoye would appear to be very significant to PTR

[dbarr0n] 10/6/2014 11:37

Yes Steel .... There are three drilling rigs on the licence, Two exploration and one production rig..

[steelwatch] 10/6/2014 10:16

Actually, I think there are three. One at Tungolskoye, one at Arbuzovskoye and one stacked at Sibkrayevskoye.

[bmw30csl] 10/6/2014 10:05

As i understand it there are two rigs and one crew.

[steelwatch] 09/6/2014 12:04

omzy - maybe a little more in-depth research and less guesswork:

[rcturner2] 09/6/2014 12:02

omzy - PTR have given their detailed plans, the relevant slide is posted on the thread above. They are only using a single drilling rig which will move from location to location. Read the latest presentation on their site.

[omzy] 09/6/2014 11:57

'Once the farmout is completed, plans are in place to drill additional production wells at Arbuzovskoye and delineation wells at Tungolskoye and Sibkrayevskoye, where significant upside potential and near-term developments are possible. The funds raised will ensure all of the necessary supplies and equipment are moved into place during the winter period and for field operations to commence upon completion of the farmout.'

'significant upside potential and near term developments'

Maybe there are further developments that we are not currently aware of. Next RNS should be interesting.

[rcturner2] 09/6/2014 11:29

You guys are pure fantasists.

The 2014 drilling campaign is T5 (which is not a production well) and up to 5 wells on Arb.

If the five wells on Arb produce an average 200 bopd (which is above the average so far) that will add 500 bopd to PTR production.

The end of year production will be 1700 bopd.

[omzy] 09/6/2014 10:45

Hi gavinbell

Is your 3000 in total or Ptr's 50% of a 6000 total.

5000 by year end would be nice round off to an eventful year, giving ptr's 50% of 2500 with no immediate costs for licence 61 future development, daily income and money in the bank to develop future growth.

[rcturner2] 09/6/2014 10:08

Don't forget the farmout halved the net production due to PTR.

They are now at 1200 bopd, with the other half going to Oil India.

[gavinbell] 09/6/2014 10:05

whats the target bopd by end of 2014? I would say at min 3000bopd

[spudders] 08/6/2014 18:20

Don't you just love late reported trades. Maybe one day trades will appear as they are placed. Anyhow getting nearer to my average;)

[themadstork] 08/6/2014 18:03

Those trades were placed on Thursday.

[spudders] 08/6/2014 17:54

2 big trades after hours, well below ut