Petroneft Resources Share Discussion Threads

[steelwatch] 13/6/2015 12:36

sean - not what I said at all. Considering options on 67 and may sell (Way Forward Decision 2015).

Maybe other prospects down the line (i.e. elsewhere and unrelated to Arawak):

Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented:

“We are very pleased to announce the farmout of 50% of Licence 61 to OIL. This agreement has come at the end of a lengthy negotiation and due diligence process and is, we believe, the best deal for all PetroNeft shareholders. With OIL we share a common appreciation for the potential of Licence 61 and the terms of the deal are structured as such. Once we have the necessary regulatory approvals in hand, we will move quickly to drill our first horizontal well at Tungolskoye and to complete the Pad 1 production wells at Arbuzovskoye. We look forward to working with OIL for many years in the future on both Licence 61 and other projects”.

[seangwhite] 13/6/2015 12:13

SteelI thought we were partnered with Vitol on 67 so how can OI be involved.Another few months to wait for news on the horizontal drills.Success with these could finally get the share price moving.VGLTA

[steelwatch] 12/6/2015 21:10

Last we heard on 67 was they are reviewing options and may sell some or all. Maybe other prospects under consideration down the line in partnership with OIL.

[seangwhite] 12/6/2015 20:14

Thanks for the reminder steel you are of course correct in allowing for the 50% for OI on license 61.Let's see whether our BOD can get something done on license 67 now the problem of loan repayments has been sorted.VGLTA

[adamnw] 12/6/2015 17:18

Am liking that link!

Can see now why Nat were so keen!

[steelwatch] 12/6/2015 17:14

sean - make that 2k and 10k net to avoid confusion.

[seangwhite] 12/6/2015 14:18

SteelLet's hope that this time they do get it right as not too many of us get a second chance at putting right something we have made a b#lls of.I am a holder and look forward to the end of this year to see that we have reached the first target of 4k production.With that under our belt the 20k target might be looked on as being achievableVGLTA

[kevjones2] 12/6/2015 12:23

Also Sean, OI have not sketched anything out for PTR. PTR remain the operator.

Some more odd trading yesterday and today. Wonder what's going on.

[steelwatch] 12/6/2015 11:42

Sean - they didn't come to pass due to Lineynoye and cash starvation derailing the program. Hopefully the heavy lifting gear has this train back on the rails with reasonable prospects of c.10,000 bopd net to PTR in c.5 years. Let's hope so anyway.

[seangwhite] 12/6/2015 10:03

Let's hope OI have sketched out a plan that works for PTR as I seem to recall similar projections many years back from our BOD which never came to pass.The accounts later this month might throw some light on how POO is actually elaffecting PTR.VGLTA

[granto2] 12/6/2015 09:40

brilliant find Kev…..

[cfccfc1970] 11/6/2015 22:49

Kev,
Good find - very encouraging!!
Be interested in PTR full accounts on the 30/06/15.
GLTA

[steelwatch] 11/6/2015 22:44

Thanks for the link Kev. Courtesy of Windows snipping tool:



If you go back and edit the link to hTTp, it will work, though the doc is copy protected. Note the T's need to be capitals to fool advfn ;->

[trawl] 11/6/2015 22:35

based on that ptr could be producing ten times its current production
the 5 mil dollar payment could be achieved
the current mkt cap would seem cheap

[kevjones2] 11/6/2015 21:52

Interesting mention about Petroneft in Oil India's Annual Report 2014/15 -

I was unable to cut and paste the specific paragraph about Petroneft but if you scroll down the link to near the bottom of section IV you'll see it.

It says that current output is 2,000 bopd and activities are in full swing (or something like that). More relevantly it states that peak output from Licence 61 is expected to be 20,000 bopd in 2020. Hope the link works.

Edit: The link doesn't work. Go to Oil India's website and click on press releases. (31/05/2015).

2nd edit: The link now works (thanks to some advice from Steelwatch!!).

[granto2] 11/6/2015 09:36

In Russia they say the same thing about USA and the West. silly politics on all sides. But I have sympathy with Russia/

[telegraph1] 10/6/2015 21:57

What it's going to take is Putin deposed and a democratically elected government friendly with the west

[telegraph1] 10/6/2015 21:57

What it's going to take is Putin deposed and a democratically elected government friendly with the west

[crudde99] 10/6/2015 19:10

I wonder if PTR could be awarded a roll in the next Jurassic Park movie as we seem every bit as dead as any T Rex or Dodo of times of yore..!! What is it going to take for investors to show even the slightest bit of interest here..?? We may have tracked the price of crude ( as some posters here suggest )on its decline, but SURPRISE SURPRISE we certainly are not tracking it on it's slow but gradual recovery.

[ravin146] 09/6/2015 16:42

Seangate sorry?

[seangwhite] 09/6/2015 15:09

PTR are doing the rounds shortly hope they encourage some small interest in their future.

VGLTA

[seangwhite] 08/6/2015 11:55

The figures when released will hopefully have some guidance on where PTR are in relation to the current lower POO and the changeable $ to rouble exchange rate.This would be helpful in trying to see where we might get to at year end if production achieves the 4k bopd guidance number given by management earlier this year.I don't expect much interest in PTR until they show the planned horizontal wells can hit the outputs that are anticipated.The G7 meeting will not help anything Russia based so that's another headwind to overcome or excuse for the BOD to use in fending off the larger disgruntled shareholdersVGLTA

[granto2] 08/6/2015 09:24

DF said ' practically ALL our costs are in Russian Ruble and we sell in US Dollar. The only USd cost is the salaries of directors, which may be in euro.

[ravin146] 07/6/2015 18:26

Telegraph is correct imo. Politics is everything, and at the moment it does not look good. G7 meet soon and won't let the Russians have any aggression towards Ukraine. Oil has collapsed but we are continually told ptr are hedged, though I don't entirely believe that as the share price has literally followed the oil over last 8 months!Results will do the talking ofcourse, but in general new investors are not turning up nor are the large holders as can be seen by the lack of any share exchange announcements, even on rns days. Correct me if I am wrong, just imo.

[kevjones2] 04/6/2015 18:03

Let's not forget the crash in the price of oil. Even though it seems fairly settled now it's down 40/50% in 7/8 months. I know it's not supposed to affect Ptr as they sell in Russia but market sentiment weighs heavily regardless, in my opinion.