Petroneft Resources Share Discussion Threads

[dbarr0n] 05/9/2014 13:09

There must not be many shares on offer looking at the ticks up on small volume...

[ravin146] 03/9/2014 18:46

Well i guess, to put it in very very simplictic analogy...if you squeeze a lemon by hand and then squeeze it with a horizontal press, the latter may provide more juice than the energy consumed lol

[dbarr0n] 03/9/2014 18:25

crudde99... If T-5 flows 400-500 bopd that would imply a field rate in excess of 4000 bopd, that would be bring PetroNefts share of production to 3000 bopd at end of next year.
That would deserve a serious re rating.

[crudde99] 03/9/2014 17:52

If all goes well with T5 drilling and production what are the chances of a successful T5 giving the current share price a boost, or the re rate that some posts have mentioned in the past...??

[dbarr0n] 03/9/2014 16:48

SEAN... The company said they expect around 600 bopd.
I would be happy with 400-500 bopd from the 300 mtr horizontal section, remember the rest of the horizontal wells will be 1000 mtrs and should flow better.
but as I said already its no so much how much it flows, its how much it flows in comparison to the vertical well as flow rates will vary from well to well.

I would consider it very successful if the horizontal well produces around 4 times the vertical.

We shall just have to wait ans see..

[ravin146] 03/9/2014 14:58

So a ceasefire expected in russia, markets are up but a russian company, which fell when the troubles began does not turn positive when a ceasefire is on the horizon...surely that is positive...hmmm

[seangwhite] 03/9/2014 13:59

Db

Thanks for that info.
What do we reckon will be veiwed as successful on this horizontal drill assuming it is successful 500/1000?

VGLA

[dbarr0n] 02/9/2014 17:46

sean...

1. Petroneft drilled one well at Tungolskoye which was sidetracked 100 mtrs, I believe both wells encountered well bore damage, nothing to do with the drilling contractor.
2. Both the pre Petroneft T-1 well and the Petroneft T-4 well were not stimulated or put on pump.
also both wells were on the outskirts of the field as can be seen here and see below.


Beginning in 2012, PetroNeft entered into an agreement with TomskGeophysicalCompany (TGK) to reprocess and reinterpret all of the existing seismic and well data at Tungolskoye and Traverskaya. This was a very comprehensive report that was finished in March 2013. The new structural map at Tungolskoye shows a large portion (>10 sq kms) up-dip from the existing T-1 and T-4 wells which encountered thick oil pays with good non stimulated test results.

[bmw30csl] 02/9/2014 17:11

What flow rates are people expecting from the vertical then horizontal well sections?

[seangwhite] 02/9/2014 16:51

Thanks Steel,

Its hard to see how PTR now expect significantly better flow results from T5 than the earlier wells unless they think there was a problem with the earlier wells by the way they were executed.The continuing problems with the drilling side of PTRs previous wells makes me glad that someone new (in the form of expert assistance) is on board this time.

VGLTA

[dbarr0n] 02/9/2014 15:05

136,387 @ 37P ... It would be nice lol. . .

[steelwatch] 02/9/2014 08:50

Sean - c&p from website:

The Tungolskoye Oil Field is located in the central part of Licence 61. This structure was initially delineated by seismic data in 1967-68. Additional seismic data was obtained in 1970-71. Further seismic surveys were run in 1993-1994.

The Tungolskoye No. 1 well discovered oil on the structure in 1973. The well tested oil from the Upper Jurassic (J1) reservoir with initial flow rates of 52.8 m3/day (332 bopd) through a 12 mm choke for 30 minutes then the well started pulsating. Stabilised flow was achieved on a 3mm choke at 10.5 m3/day (66 bopd) with 20 % water. Reservoir pressure is 262 atm. The specific gravity of the oil is 0.825 g/cm3 or an API gravity of 40 degrees.

All of the vintage seismic data over the Tungolskoye structure has been reprocessed and reinterpreted by PetroNeft, and new high resolution CDP seismic data was been acquired over the feature during the winter of 2005/2006 and additional infill lines were acquired during the winter of 2006/2007.

PetroNeft drilled one further delineation well, Tungolskoye No. 4, on the feature commencing the winter of 2006/2007. The well had 15 metres of net oil pay in the J1 interval based on the core data and independent log interpretations and the well initially tested an inflow of 40 bopd. However, due to mechanical problems the Company was unable to achieve a representative flow test from the interval. The well was subsequently sidetracked to re-access and fully test the relevant reservoir interval. The side-tracked well bore successfully penetrated the reservoir about 100 metres to the east and 5 metres structurally higher than the vertical hole. However, the Company still had mechanical problems with the testing. The well was subsequently suspended in order to move the exploration rig to the West Korchegskaya location while winter roads were in place.

[seangwhite] 02/9/2014 08:37

DbWhat did the previous wells near to T5 flow like and when were they drilled?TIAVGLTA

[dbarr0n] 01/9/2014 16:43

They are expecting vertical to be about 150 bopd and horizontal to be about 500- 600 bopd.
The % difference that can be achieved whats important as wells will vary from location to location.

They said the will be doing a production forecast on the field once they have the results from this well...

[ravin146] 01/9/2014 16:32

oh ok...do we have any expectations of what sort of bopd on vertical and how much on horizontal?

[dbarr0n] 01/9/2014 12:18

Ravin..
They said they will have results on the vertical part of the well towards the end of this month and results on the horizontal section by end of Oct..
Also drilling is to recommence on Arbuzovskoye later this month.

[ravin146] 01/9/2014 10:48

Someone's building a stake...

[ravin146] 01/9/2014 10:17

Decent slides online giving a summary of past, present and future...only time will tell. So basically end of October should be the next RNS for t-5 results...

[cfccfc1970] 29/8/2014 17:08

The 2014 Annual General Meeting of the Company was held in Dublin earlier today. Resolutions 1 to 5 were duly approved by shareholders by way of show of hands.

The Chairman called for a poll in relation to resolutions 6, 7 and 8.

Resolution 6 relating to the increase of the authorised share capital of the Company was duly approved by shareholders.

Resolutions 7 and 8 relating to the Boards ability to allot shares and to disapply pre-emption rights in certain limited circumstances were both proposed as special resolutions which require approval of shareholders representing not less than 75% of votes cast. These resolutions did not achieve the sufficient majority and therefore were not passed.

A new shareholder presentation has been uploaded to the Company website at: www.petroneft.com/investor-relations/presentations/

[ravin146] 29/8/2014 16:40

Wow a lot of new faces in recent days...so when do we get agm result rns? Should be on the day no?

[rockin robin] 29/8/2014 15:44

'Xciting...Thx

[ronson333] 29/8/2014 15:14

Have we even started drilling the current well? no RNS to clarify...