Petroneft Resources Share Discussion Threads

[oilbiz] 26/8/2014 17:28

14 or 21 day notice only is needed to call an EGM. No wonder the
board ignore shareholders.

[chris cat] 26/8/2014 17:19

MAN1 - I agree with you so voted against - also voted against the
re-election of the directors. I'm sure all resolutions will be
passed and I only have a small holding (Large for me though) but
wanted them to know how I feel about the destruction of my
investment.

[danny111] 26/8/2014 16:48

Steel - hope so :-)

[steelwatch] 26/8/2014 16:44

Danny - does the tail wag the dog?

[danny111] 26/8/2014 16:41

Understand Steelwatch, but they are paying what equates to approx
7.25p sterling.

[steelwatch] 26/8/2014 16:37

Petty cash volume on IEX, so more volatile.

[danny111] 26/8/2014 16:33

Was mentioned by SHOWME earlier with no other comment, but the rise
on the Irish exchange is interesting and begs the question why a
similar increase was not seen in London.

[steelwatch] 26/8/2014 16:31

Not getting drawn into an argument. On this occasion, I shall not
be paying my broker for the privilege of voting, so come what may.

[man1] 26/8/2014 16:20

It's been mentioned before and something I am totally against . If we had a board which were open and had added value to the company for shareholders I would say let them continue . But with our BOD track record I say shareholders do so at our own peril ...The board need fresh blood not a easy way to raise money .

[steelwatch] 26/8/2014 15:50

They may need to raise money if other opportunities present, so need the option in place to act quickly rather than go through all the fandango of calling an EGM. I'm sure this has been covered before.

[oilbiz] 26/8/2014 14:59

what's the headroom for with Oil India financing the company and free cashflow? in addition - the ability to place shares without shareholders approval and disapply the pre-emption rights. is everyone happy with this?

[sh0wme] 26/8/2014 14:53

Steel watch, are you comfortable with such resolutions?

[oilbiz] 26/8/2014 14:09

Gentlemen, any ideas why the board wants to increase the authorised share capital and blank authorisation to place it? Items 6-8 on the agenda of the upcoming AGM

[seangwhite] 26/8/2014 14:03

The issue PTR now have is they have a large shareholder who I would of thought wants ultimately to take control or sell his holding at a profit. When does he make a move.
If he waits for the results of the horizontal T5 well (succesful)the bid will have to at higher levels than now and he has a change of control issue with the Farmin entity. It may also be the time he tries to offload his stake but as it is large percentage the share price would be hit even if the production outlook looks good in the near term.
A dilemma but lets hope T5 brings good news for all us poor long standing PTR holders.

GLTA

[sh0wme] 26/8/2014 12:12

Ptr looks to have jumped up over 20% on the Irish StockbExchange in the last hour?

[don777] 26/8/2014 11:53

Dbarron,
sent you a private message, please check, many thanks

D

[dbarr0n] 26/8/2014 11:14

Steel ...We will do better ;)

If the 300 mtr horizontal section in T-5 produces 400 - 500 bopd,
then surely 7 horizontal wells of 1000 mtrs each will produce a total in excess of 3,500 bopd plus there will be 8 vertical wells, granted these will be converted to injection wells but will produce for some length of time.

I am looking for at least 4000 bopd from Tungolskoye when all the wells are drilled.

[steelwatch] 22/8/2014 12:57

...hope we do better than "net daily production to 257 boepd as at 1 July 2014, up from 150 boepd as at 1 April 2014" LOL - (when we get there).

[corrientes] 22/8/2014 12:43

Hope that one day, during my lifetime, we can get news of a large production surge, just like that announced by Magnolia today. Not holding my breathe though.

[steelwatch] 22/8/2014 10:49

Article by Stewart Dalby:

[thetoonarmy2] 20/8/2014 18:29

7 mill trade come on own up who's was it?

[seangwhite] 20/8/2014 11:34

Db

Good point although it should only apply to certain Directors not topping up of late.
DF is excused this one as his personal holding is already very large especially in comparison to the likes of BOC over at PCI.
It will be quiet for a while now until T5 gets to its vertical depth when hopefully we will get some newsflow.The real question is how effective the subsequent horizontal drill will be.
If the flows from section this are half way decent the share price will rise as people will hopefully see a 'future' unlike the last two years!

GLTA

[dbarr0n] 20/8/2014 10:27

cfccfc ..
Definitely not.
If that was the reason they would be making announcements every day.
Maybe the directors will do some buying before drilling starts..