Petroneft Resources Share Discussion Threads

[seangwhite] 06/2/2015 19:04

RavI agree most holding here are underwater at present. Natlatas holding is such that they now are stuck in for a long haul as there is no obvious other entity going to make an approach here for a while.If the output rises and the reserves are upgraded value must be surely be reflected in the share price The current issues with the POO,scepticism of Russian assets and the past underperformance by our BOD will pass later this year - I hopeLet's look forward to a good Xmas with PTR in double figuresVGLTA

[rcturner2] 06/2/2015 18:18

ravin, soon they will have two rigs operating and will be drilling the Arb wells, additional horizontal wells at Tung and starting to get Sib into production. This should raise production fairly quickly and in 6-12 months time there could be a significant lift in production.

[ravin146] 06/2/2015 17:58

Lol directors would have bought if they can, or believe there is value, or they might just be in deep losses. It's been years now, close period or not.Sean it is very simple...this stock has yet to create a spark...most stock is held by small medium size holders, with the majority having averages higher than 5p, with exception RCT lol My view is, production will increase, it may reach 6-7k but is this not expected now with OIL involved, and they taking half that revenue. This stock needs surprising news, production suprises, atm, are not enough to attract investors, for me it is a reserve upgrade. I hope it is the next RNS. Gla

[seangwhite] 05/2/2015 20:39

SpuddersThe point made about Directors buying is a good one.DF has a fair number already,the other members of the board could add to their rather small combined holdings.News at this time will not do much for the share price without execution of their plans to raise output.VGLTA

[telegraph1] 05/2/2015 17:09

The price of oil and the situation in Ukraine has to be a drag on this price hopefully both will be short lived and our good results be long lived lol

[spudders] 05/2/2015 16:42

On the back of such a positive Rns it would bode well if there was a bit of Direcor buying, even if it was a small quantity as this would get some free press. If the CFO bought that would attract investors whom trade on the principal that he must have an insight or why else would he buy if its going nowhere. Just my thoughts whilst the share price stagnates 😟

[rcturner2] 05/2/2015 14:00

lol RR

What PTR need is a sustained period of good performance. They need the T wells to continue to produce excellent results and they need the Sib wells to do the business too.

[rockin robin] 05/2/2015 13:55

Obviously being debt-free, having good drilling News and operating in Russia, isn't exciting enough any more for some of our sm's punters.Back to the drawing board... We need to be ...in Africa, with a huge debt-mountain and...dodgy Directors. ...And a possible bidder.We are so last-year...lol.

[steelwatch] 05/2/2015 12:32

sean - Tomskburneftegaz drilled the T5 vertical (and kick off I think), but Baker Hughes took over for the horizontal section drilling and completion. As we don't yet know who is to be awarded the contract for the top drive rig which is out to tender, it is by no means certain there will be a change of contractor is it? According to their website, they have modern equipment.

[dbarr0n] 05/2/2015 12:00

jasper .. Your memory is failing, where is it stated that production fell to 200 bopd on T-5 ?.
Total production fell by 300 bopd in 7 months or 500 bopd in 9 months, that is natural decline..
Look at the decline rates before the Arb wells were drilled ?.
As for using modern Technology, up to a couple of years ago horizontal drilling was uneconomic for most fields and was definitely uneconomic for these fields.

[seangwhite] 05/2/2015 11:33

Db

The news of a move away from the old drilling contractor ( which has one of its owners sitting on PTRs BOD!) is welcomed but has taken too long. To be a bit realistic until OI came aboard PTR were stuck with the old driller as they had no money to bring anyone else in.
The way things are looking gives me hope for the future and seems to show someone(new or otherwise)is taking charge and making sensible decisions.

Lets see if the progress is maintained during 2015.

VGLTA

[jasper2712] 05/2/2015 09:47

DbarrOn
It was a bit more then natural decline as the flow rates of that particular well fell to around 200 very quickly after their announcement of 500 if my memory serves me right.
Seems a pity the board never considered using modern drilling methods before but were happy to stick with old tired out drilling methods/contractors

[dbarr0n] 05/2/2015 09:33

crudde99...
You asked if horizontal well could be used elsewhere on licence 61 and on licence 67 ?

Yes they can, Petroneft have stated they intend to drill horizontal wells on the southern end of the Arbuzovskoye field next year.
Arbuzovskoye has net pay of about 5 mtrs, so if they can drill horizontal wells here successfully they can drill them anywhere.
Sibkrayevskoye has around 12 mtrs and reserves over 50 million barrels, the use of horizontal wells here next year will have a huge impact on production figures..

[dbarr0n] 04/2/2015 21:40

jasper.
Sorry it was not downgraded... Have a look at the graph, (link above) and you will see it was nothing but natural decline, which is expected.

Granto.
The company said at the AGM that once they had the flow figures on T-5 they would be happy to start projecting flow rates again, Financial Projections can only be done assuming a future oil price which is at best guess at the present.

Sean.
Given the 600 bopd flow rate from T-5, I would guess that the planned longer horizontal development wells could average 1,000 bopd or above so along with the vertical wells Tungolskoye could be producing 4,000 to 5,000 bopd by early next year.

[granto2] 04/2/2015 20:31

would be really helpful if the BoD would release financial projections based on the current situation, its annoying having to do it myself. and even then I am not armed with all the info…. did anyone else do this here, ? I am happy to work with people on it…

[seangwhite] 04/2/2015 20:06

The flow rate was given as 600 on T5 with cleaning up still in progress.One would hope the production figure turns in higher.The next 6-9 months could see a big improvement in PTRs fortunes.VGLTA

[jasper2712] 04/2/2015 19:27

Once they confirm the flow rate, then there might be a bit more interest. PTR have in the past given an initial flow of +500 on a well only for this to be considerable downgraded a few weeks later.

[granto2] 04/2/2015 17:26

a bit like the license itself this may be a slow grind up over a few years. Those here intimately know the fields there, we know the highs and lows/ we could be up to

[ravin146] 04/2/2015 16:57

Lack of interest in this stock continues...re-rate news must be released. Volume is jut not there..Reserve upgrade is what I am after! Average production to gradually increase will be the foundations over the years, may not see 4p in a long time, hopefully soon. Gla

[spudders] 04/2/2015 16:46

Great RNS but until we get some decent volume I don't expect any fireworks. Maybe the Irish papers will do a write up, although there are plenty in the Emerald Isle who have caught a cold here, once bitten..........

New chapter has begun and Im much more confident for this year thanks to OIL having an input. Best of luck all.

[dubhgeannain] 04/2/2015 16:01

I've banished mine to sheet 2 to avoid clutter. They're pretty much the same thing anyway except for Dbarr0n's Well annotations. And fancier colour layout :)

@happyman: I agree with that.

[happyman7] 04/2/2015 15:39

I am not in the least surprised by the somewhat muted response from the market to the recent RNS.

......"Remember the average punter for small AIM oilers is well down, they don't have spare cash as most are holding onto losing positions and are anchored to their average price. PTR needs to actually do something that will excite the buyers. It's a bear market for oilers, good news is ignored and bad news hammers the price".........

[crudde99] 04/2/2015 15:20

All in all a great r.n.s. yesterday...!!!! let's hope for many more to come in the near term as shareholders that have stuck with this Co. really deserve a big break. Looks like the H wells are really the way to go in this part of the Siberia. Pity they can't be used more widely by Ptr across L61 and L67 or can they ..????? Perhaps some of their much bigger neighbours may begin to take a closer look now at 4.5p P.t.r.... GL2A concerned.

[steelwatch] 04/2/2015 14:06

Nice one Db. All accessible now by clicking the link at bottom left in the header

[dbarr0n] 04/2/2015 13:35

Steel I was changing them around to get the well nos on the top line lol