Petroneft Resources Share Discussion Threads

[base98] 07/12/2014 10:53

Steel, Thanks very much for the "connect" to OB Presentation, I must admit that I struggle at times when researching but much clearer in this format.
Been here almost 7 years, adding a few from time to time and only sold on one occasion(recouped those quite soon after). Thanks anyway.

[ravin146] 07/12/2014 10:38

Steel thanks for the thorough reply. As I said, explain what happened in the next rns, simples.In terms of cutting some slack, I don't think so.

[steelwatch] 06/12/2014 23:13

ravin - when Geoffrey P... asked that question, "is there a connection with Natlata?", clearly DF knew GI is an Italian entity with connections in Russia.

As the holdings announcement came some 4 months after the EGM and also after the AGM, he, or PD, may well not have had an opportunity of meeting with GI. No doubt the house broker was asked and, perhaps, the only information forthcoming was that which DF gave in answer to the question. You may have noticed DF looked at PD and asked if PD had anything to add. I imagine he must have shaken his head and shrugged indicating he had nothing to add.

So, if GP's "out of the blue" question floored DF, it would hardly be surprising, especially if there has been no disclosure of any "acting in concert" with Natlata.

It could well be that GI made their post farmout investment because they liked the potential and there is nothing sinister in their involvement.

Oilbarrel conferences are targeted more on private investors. GI, being an institutional investor, would more likely be invited to a private presentation for such investors. Of course, neither you nor I would be privy to such information.

As to the slight operational delay with drilling operations this Autumn, yes these sort of things can be frustrating, but not unusual I have found from experience with a number of oilers I have invested in. The important thing is the results and I think you might consider cutting them a little more slack.

[rockin robin] 06/12/2014 14:00

Well, that's an encouraging pres'n, thx for the link, actually thought 'with a prevailing wind' they actually 'get this Co. going - finally. Next year could get quite interesting. They have a plan, infrastructure & money. DF seems to be able to pronounce everything - so - I'm encouraged.'Just need some luck and the whole oil economy to pick up. Simples.

[ravin146] 06/12/2014 13:50

steel yes you are right, general invest overseas. It's worrying that the directors don't know their largest investors, when its in their interest to invite these investors to to conferences like these and strengthen their confidence in the company. same old same old...if news is not out next week, its another false aspiration the directors have sent its share holders.

db as for weather issues, are you sure the weather seemed fine, steelwatch i remember you quoted the temp was ok etc i am still hoping for the rns regarding that well, fully explains what happened and why the delays occurred. no need to hide bad news under the carpet like they did in the past. he had his opportunity to tell the truth, but failed to do so.

[steelwatch] 05/12/2014 17:11

Oilbarrel article

[granto2] 05/12/2014 16:03

Dbarron, very grateful for that, I think I must have misunderstood him. but on reflection what you are saying makes sense. thats much better news.

[spudders] 05/12/2014 15:26

I have started to turn PTR chart upside down, visually positive if you ignore the numbers 😃

Have a good weekend all, new chapter next week ?

[dbarr0n] 05/12/2014 14:58

Granto.. They have already drilled the deviated section of the T-5 horizontal well, its cased and ready for Baker Hughes to drill the 300 mtrs horizontally, possibly this has started since the presentation, that's why Dennis Francis said they hoped to be able to make a statement before year end on this well.

Export price of oil is whats used to determine the domestic price as they tax exports at a rate per ton depending on the average price for the month previous.
You also have to calculate the cost of transporting your oil to an export point.

[crudde99] 05/12/2014 14:35

Their probably has been an issue with credibility re. failed production targets etc up until the recent farm out. I say that because with Oil I now on board they will be keeping a close eye on all drilling activities and production levels...Surely the market will believe Oil India's views on things as they carry a lot of weight in the industry. Regards Ptr's share price .... Oil India NOT been ( well as far as we know) shareholders would probably like to see it much higher as that in itself would serve as a measure of just how well all is going re. production and the partnership....GLA

[dbarr0n] 05/12/2014 14:05

chris cat.
Total production dropped by 150 bopd in two months, with 3 wells offline.
Hardly a huge drop off in production rates.
They were hardly paying Imperial Energy and Transneft to transport more oil than they were producing ?.

11th October 2012: total production above 2,200 bopd.
22nd October 2012: well 102, 540 bopd total production above 2,700 bopd.
23rd November 2012: well 109, 100 bopd 4 wells offline total production 2,500 bopd.
18th December 2012: well 111, 150 bopd 3 wells offline total production 2,800 bopd.

[granto2] 05/12/2014 14:01

RNS, he said they would have the results by the end of this week, suppose we will have to on Monday all going well.

[granto2] 05/12/2014 14:00

Presentation, finally got to watch it all. Sometimes I forget just how much potential is here. Lots on the near horizon. If they haven't started drilling the H well at T-5 I don't know why he thinks it can be finished by the end of the year, perhaps he meant the actual initial part, and another few weeks requires for the needling and testing etc. But other than that, note he mentioned a second Arb well has been spudded, Seismic results due this MONTH !!! I really will be an exciting year. I think i s appraisal was understated and honest. not many questions at the end, Oil Barrel themselves had to chip in a question, a silly one at that. pretty aggressive programme despite the delays, and as he said .. they delays are behind us now, ( Don't laugh he meant it (. all told I am happy enough, strange is comment about $70 and $80 a barrel.PTR sell at much lower than that if I a not wrong ????

[jyoti1] 05/12/2014 13:26

Where is RNS?😜

[chris cat] 05/12/2014 12:52

It also seems that we have done it again with the poor communication. How late are we with the Horizontal well and no announcement just a pass over comment in the OB presentation. I believe the market does not trust a single word that PTR release and this is contributing the current share price

[chris cat] 05/12/2014 12:49

RCT - Fair point but how quickly did those flow rates drop off. Those initial rates were spectacular however if I remember correctly we were trying to raise money at the time and as soon as we got the cash the BOPD figures reduced dramatically - It all seemed far to coincidental to me but at the time DB provided a staunch defence on how the flow rates were measured.

[rcturner2] 05/12/2014 10:44

Part of the problem is the perennial disappointment. When are they going to do anything to time and above expectations? Probably in the 4 years or so I have been following PTR the only time that happened was when one of the Arb drills came in at 500 bopd. Otherwise it is just a story of endless disappointment.

[granto2] 05/12/2014 10:34

I guess the focus is on other things than news flow, but I think we all agree that the company needs a good PR shakeup and recognize the world has changed..

[seangwhite] 05/12/2014 10:28

steel

My main moan is the way in which the newsflow has been handled by PTR in such a manner as to annoy more people than assist in raising the company profile in the investment community. I hope that future appearances will be to reinforce the new levels of increasing production that PTR have finally achieved.

VGLTA

[granto2] 05/12/2014 09:55

steelwatch, I like DF, not overly happy with the communication levels from the company, but he is a solid performer.

[steelwatch] 05/12/2014 02:32

Ravin - DF did not say he didn't know who Natlata are. He did say Petroneft did not know whether General Investment Overseas, an Italian group with Russian connections, was in any way connected with Natlata.

And Sean, DF has always been a very unassuming character, not a flamboyant salesman. However, he did make the point that the current focus is all about getting production figures up significantly.

I'm sure all should concentrate on substance, rather than style, when it comes to listening and to listen without bias in order to grasp the finer detail.

[seangwhite] 04/12/2014 22:53

The PTR presence at Oil Barrel looks to have been a very amateurish affair which doesn't seem to have been planned with any obvious advantage for the CompanyVGLTA

[ravin146] 04/12/2014 17:55

Not worth the read, prob worth a read for new investors. I found it funny, when natlata was mentioned, he gave grainy answer, basically who are they, we don't know.

[spudders] 04/12/2014 16:09

Oil barrel presentation document now on the PTR website.

[danny111] 04/12/2014 13:48

Spudders - lol