Petroneft Resources Share Discussion Threads

[thetoonarmy2] 06/7/2014 09:02

Think you will find Macq Bank getting rid of any shares it holds, not sure what the options strike price was set at?

Don't think Natlatla is selling in fact wouldn't surprise me to see them increase this will come down to either the Russians or the Indians going all in to do a buy out, think about it what benefit do Francis et al bring to this party absolutely nothing.

[dbarr0n] 04/7/2014 17:17

Wouldn't be surprised if was Natlata, but time will tell..

[rich2006] 04/7/2014 15:16

McQ? Maybe

[spudders] 04/7/2014 13:45

There appears to be an overhang that is holding the share price back. Plenty of stock about at a discount.

[spudders] 04/7/2014 11:57

Cheers Steel, interesting article in the 'The Hindu' oil india and Gazprom. Food for thought on that one.

[seangwhite] 04/7/2014 10:40

SpuddersThats a good point - lets watch young PD's actions as poor old DF surely has enough of these wilting in his pension pot for now.GLTA

[spudders] 04/7/2014 09:30

I assume directors can now trade, it will be interesting to see if the ones with smaller holdings now have the faith to top up.

A good day for Lth's even though most of us are underwater.

Onwards and upwards :)

[rockin robin] 04/7/2014 09:21

It usually takes about a week, for good News to sink in.Let's hope this could be the start of something very rewarding...

[jyoti1] 04/7/2014 08:52

I have invested in RRL and PTR both looks good :) my mortgage will be paid off hopefully .....

[currypasty] 04/7/2014 08:42

bring on the drilling!

[mortimer7] 04/7/2014 08:33

Thanks for posting the Davy article. Interesting to see their opinion of NAV at 11.3p.

[steelwatch] 04/7/2014 08:22

DAVY VIEW

Retiring the complete debt profile de-risks group financing and allows Petroneft to recommence operations with appropriate funding capacity. This is positive for shareholders.

Farm-out completes

Following official approval earlier this week, the farm-out of 50% of Licence 61 has completed. The receipt of $35m in cash as part of the process allowed Petroneft to retire all its debt and the group is now debt free.

Work programme aims to rekindle value growth

The first work scheduled for Licence 61 is the start-up of the Tungolskoey-5 well, which will be the first horizontal well drilled by the group. It will take 60 days to complete and will be followed by up to a further five development wells on the Arbuzovskoye Field. Seismic will also be acquired over the Sibrayevskoye Field and Emtorskaya prospect.

Although Petroneft now has a reduced stake in Licence 61, its operations are now properly capitalised and it has built up important operational lessons from the development of the Linenoye and Arbuzovskye fields. The aim will be to replace and grow the 50% reduction in 2P reserves (50% of 117m barrels) resulting from the farm-out. Work so far suggests the licence has plenty of capacity to deliver this. Our NAV for the group post the deal is 11.3p per share.

[seangwhite] 04/7/2014 08:19

Looks like an interesting few months ahead for the small but seemingly loyal followers of PTR still posting here.Success at thé horizontal T5 well could be a réal game changer for how thé Company is viewed & its share price GLTA

[steelwatch] 04/7/2014 07:09

Following the T-5 well, up to five additional production wells will be drilled at Arbuzovskoye Pad 1 where drilling was suspended in February 2013. There are also plans in place to acquire 1,000 km of 2D seismic across the large Sibkrayevskoye oil field and Emtorskaya prospect commencing later in 2014. Current production has slowly declined to 2,100 bopd from existing wells.

[steelwatch] 04/7/2014 07:06

-- New chapter begins for a significantly strengthened PetroNeft

Following the granting of Russian Regulatory Approval on 30 June 2014 the transaction with Oil India Limited was completed on 3 July 2014. All debt due to Macquarie and Arawak has been repaid from the initial proceeds of US$35 million and the Company is now debt-free.

[dbarr0n] 04/7/2014 00:28

Ravin .. To answer to your question
The drilling of T5 is expected to start about mid month and it will take around 18 days to drill the well vertically after which it will be flow tested before drilling a side tracked horizontal section of 300 mtrs which will also be flow tested.
Its just not a production well, the data collected will then be used in conjunction with some new seismic they have planned for the field.

[ravin146] 03/7/2014 18:58

So farmout details announced, egm a non-event, regulatory approval given, short farmout will be set in stone...just a waiting game now for 60days mid Sept to see if the new method provides more oil! A few questions I have on the latest rns...why does it take 60days? Wasn't all equipment etc driven to location in months ago (quoted in previous rns) to save time and knowingly it's was agreed that a horizontal drilling method was decided? Or does it genuinely take 60 days? What's the diff between LGO and ptr, as former have been issuing rns in a quick tutnaround period...any feedback much appreciated.Gla

[seangwhite] 02/7/2014 08:03

DBGI for one would not mind a T/O at say 8p+ and I think a fair few others would be happy to take the money and run, that said I cannot see Natlata upping the ante to try and take control.GLTA

[denis black gold] 01/7/2014 19:05

Someone is selling that's for sure....!!! Look it's obvious the "huge" elephant in the room here is still this B.O.D. Yes we got a partner in L61 but for 5 odd pence a share and have been heavily diluted by share issues in recent years for a few more measly million. New money but the same old tried tested and failed gang... Yes if all goes very right with the drill over the next few years the share price will rise, but forget about ever reaching any where near the highs of the past.. Problem is we are now a sitting duck at 6.5p and could be easily be approached and taken out at a 20% - 30% premium..... Too much dilution and not near enough oil been produced.. GLA

[telegraph1] 01/7/2014 14:32

Could nat be selling some of there holding

[spudders] 01/7/2014 13:09

Hmmm, 10M trade is it Nat having another nibble.

[currypasty] 01/7/2014 10:49

well, closing the gap to 14.3p would do for me!

[surfer2] 01/7/2014 10:04

so Davys new valuation corresponds exactly with the gap down from 14.3p in early 2012....hmmmm