Petroneft Resources Share Discussion Threads

[steelwatch] 21/7/2014 18:46

DTR 5.8.4
20/01/2007
FCA
(1) The notification obligation following transactions of a kind mentioned in DTR 5.2.1 R are individual obligations incumbent upon each direct shareholder or indirect shareholder mentioned in DTR 5.2.1 R or both if the proportion of voting rights held by each party reaches, exceeds or falls below an applicable threshold.

[steelwatch] 21/7/2014 18:24

ravin - the onus to notify rests with the significant holder. Once notification of crossing a threshold is received by the Company Secretary, then an RNS should be released.

[ravin146] 21/7/2014 18:01

El1te nor do I. I'm just interested though, we've never been given details but the second lot of investment after clearing the debt, if results do disappoint going forward does Oil India have to continue to invest the remaining total or can they defer the payment until they are happy to invest again or the board dilutes the share price? Secondly if it was Macquarie shouldn't a Rns follow?

[el1te] 21/7/2014 17:17

They have no need to place shares. The share price is oversold on technicals, but the drop may well be the result of precautionary selling with reference to the Ukraine/Russia tensions. In reality, there's not much there that will affect Petroneft, but many investors will simply dump stocks with Russian ties, just in case.

The offloading of the 40 million at a discount of less than 10% bodes well for the new holder remaining long, and not looking to take a quick profit. You can hold a grudge against management, but the reserves in the ground speak for themselves, and at this rate it could attract a takeover. The Oil India farmout was a distressed one, so implied valuations are almost definitely considerably lower than in reality

El1te

[ravin146] 21/7/2014 16:40

I hope we're not heading to 5p again and another placing of shares! If anyone bought the Macquarie sell-off surely we'd have a statement unless the big boys added.

[denis black gold] 21/7/2014 16:39

steelwatch..... I may be wrong and am always very open to correction, but imho that is how i see it and the 5.7p share price i'm afraid truly reflects this....GL2U

[steelwatch] 21/7/2014 16:22

Dbg - I see you are not one to hold a grudge!!!

[denis black gold] 21/7/2014 16:11

With the way this share price is falling we could soon be back where we were some months ago at circa 3p/4p....It matters little what the drill delivers when you have such negativity and major failure associated with a Company name...!!!! You can polish it up any way you like but you can't argue with markets SELL view of this sinking Co..... and then the boys decide it's bonus time... Is it any wonder investors are running away.....

[dbarr0n] 21/7/2014 10:17

thetoon...
How do you make out they gave 50% away ?.

[rcturner2] 21/7/2014 10:17

Macquaire specialise in the resources sector, and hold stakes in many different companies, it was part of their business model. They provide loans and equity finance and often take warrants on loans too.

The AIM O&G sector was down 17% in H1 2014.

[spudders] 21/7/2014 09:23

L2 plenty of stock available at 5.79. Someone with dma is playing around with the prices on both sides!

[steelwatch] 20/7/2014 12:00

Dbg - I think you should read the Annual Report in more detail on that point.

[denis black gold] 20/7/2014 11:45

My "guess" would be cash....!!!! these guys wouldn't touch PTR shares. 60p down to 6p.... Yep the boys have really earned their bonus...!!!

[chris cat] 20/7/2014 09:49

Was it a cash bonus or shares based. Either way I think it's scandalous but would be more paletable if it was share based. Given most of their minimal holdings (df aside) they should be forced to buy shares.

[seangwhite] 19/7/2014 21:09

The farm out was needed to raise funds to develope the licenses.The reason the funds were needed was because the BOD had made a hash of the developement in spending funds on facilities and then not having production to use it profitably. A bonus for correcting this shambles seems somewhat perverse to say the least.The BOD are now at the 'last chance saloon' lets hope the buyers of the McQ holding and Natlata dont want to keep picking up their overly large bar tab.GLTA

[cfccfc1970] 19/7/2014 18:52

steel - and why did we have to carry out a farmout......

[steelwatch] 19/7/2014 11:01

toon - The 2013 bonuses approved for the 3 executive directors by the Remuneration Committee became payable following the completion of the Licence 61 Farmout. Not excessive imv, but no doubt you will beg to differ.

[seangwhite] 19/7/2014 02:57

Someone sold and another entity bought what's the problem.If the buyer is a large holder an RNS will come.My hope is for a T/O and at this time do not care who it isGLTA

[thetoonarmy2] 18/7/2014 23:57

That 10 mill looks like a trade from a few days ago they are allowed to hold it back 3 days if the mm wants. As for Macquarie selling if they have no finance in they usually dump shares they are a Bank not a share punter. I also am interested in who was it Maxi or Ceres? If either, they are not buying for fun that's for sure please let it be Maxi though.
AGM going to interesting maybe have a clean sweep all Directors who are up for reelection to be voted out !

[spudders] 18/7/2014 23:04

10M late trade looks a buy to me. Let's see what the mm's get up to next week.

[solooiler] 18/7/2014 22:17

Cor! :0). I have seen banks get it wrong more times than right!
I am more interested in zee buyer :0)