Petroneft Resources Share Discussion Threads

[rockin robin] 18/8/2015 14:23

Halifax - online showing PTR to buy, is currently 4.8p. So a line of buys today.

[tens machine] 18/8/2015 14:06

malcy said of PTR

22/4/14
I keep getting deluged with requests about Petroneft and lots of e-mails from various parties about their side of the story. To make it clear, the stock is not and is unlikely ever likely to be, on anything other than Malcys blacklist of stocks not of investible quality… - See more at: hxxp://www.malcysblog.com/2014/04/oil-price-us-service-companies-genel-dart-gulf-keystone-sundry-and-finally/#sthash.QUkyViFd.dpuf

[granto2] 18/8/2015 13:48

Chris, early days there. Each stage of development reveals more.

[steelwatch] 18/8/2015 13:07

chris - in the lower case, reserves might be higher, but, hey, let's get the revised reserves estimate first, LOL

Following the success of the Sibkrayevskoye No. 373 appraisal well announced in May 2015, work on the processing and interpretation of the new 1,000 km 2D seismic acquired in the northern part of Licence 61 is well under way. Early indications are that the Sibkrayevskoye structure is significantly larger than currently mapped and extends to the southeast, including the East Sibkrayevskaya lead under one overall closed structure. A reserve update will be prepared at the end of the year incorporating the new seismic and well data and the development plan updated accordingly.

[chris cat] 18/8/2015 12:47

Guys - Forgive my lack of Geological knowledge but is there anything to prevent us hitting the Oil water contact lower/higher on Sib and then having to lower our reserves like at Tung

[granto2] 18/8/2015 10:25

There is an overhang of frustration on PTR, and just when the company gets firing on all cylinders the price of oil falls through the floor. again this is not management's fault. They do deserve credit for getting the Oil India deal done. Also, since then the progress has been on schedule. The advert of the horizontal well strategy has massively lifted prospects here, and the proving up of the S wells to the north east. Plus the increased reserves there. The share price here has been holding up well all considered, let's not forget Ukraine etc. To give management a break here they have battled through all this quite well. certainly a bit of luck wouldn't go astray after the T-5 fiasco. The wells in this part of the world typically produce about 150 bopd, using short 300 Horizontal wells, in this license will extend the life of the field and increase production. My focus s not on this years production. I am focusing on License 67 and the North East of License 61. The rest is pretty much understood in terms of what we can get from it.

[tens machine] 18/8/2015 10:02

the wells developments seem to be coming on faster than before as PTR get more information on the geology in the license .
so more than likely 4 or 5 wells across the licenses in the remainder of this year to reach 3500-4000bopd.
I remain optimistic that this can be achieved but not the bee all for me , as the POO remains low...so I remain patient and will add if the chance arises

[kevjones2] 18/8/2015 09:48

I've asked this question on LSE: can anyone explain to me in layman's terms how on earth literally tens of millions of shares can exchange hands as Natlata and General Invest build up their stock, without the share price rising.

Let's say I decide to build my stock up by a million shares a week. It is simply not going to happen that I manage to get these shares within the same price range for over a year. How can IIs do it?

[kevjones2] 18/8/2015 09:43

The BoD have already hit a mini-hurdle in that Tungolskoye looks set to come in below expectations. That's not the BoD's fault - it's the oil industry! I'd be quite content with 3,000 bopd by year end.

[ravin146] 18/8/2015 09:14

RR...the trouble is the market is not seeing any value at the moment...

Who actually here believes the BOD will meet this 3500-4000 target without hitting any hurdles and have any doubt based on the past and based on the confusion here by SH on RNS's..STILL post oil deal...t-503 why didn't it increase to C.675bopd post clean up...no explanation in last rns...and poo falling further.

There are buyers out there...if you look at the volume someone/investors are accumulating...trouble is this is not pushing up the price relative to the volume change or they are buying far to cheap.

It's that simple.

...and been the same story for some time now.

[rockin robin] 18/8/2015 08:32

Sean,No, That comment is aimed at the shareholders. Forget the BOD. Can you influence the share price by moaning at the bod on a BB?SH need to stop whinging, & if they see value - buy.It's that simple.

[chris cat] 18/8/2015 08:15

DB - Do you know or have you estimated if we will have any of the OI money left to develop Sib. I think Granto has asked the question of "How much of the OI money has been used to date" but I don't expect them to respond to him. My concern being that Sib may have 80m BBL however I am concerned that we end up in the same old situation where we have loads of reserves but no money to develop them. I'm not sure, the in low oil price environment that our free cash flow from the current and future oil sales will bring in enough money to develop a beast like Sib and given our history we do not want to go down the debt route again. Any thoughts?

[seangwhite] 18/8/2015 08:11

R RSurely that advice applies to the BOD. They have a greater priority in that showing belief in the Company would help even more any than PIs share purchases.The BOD have Natlata at their backs and in my view have done little to garner support amongst PTRs I Is and more so with smaller PI holders.Let's see some more action by the BOD to raise the Company profile and finally it's share price VGLTA

[rockin robin] 18/8/2015 07:16

guys, Keep in mind that, if you're confident of PTR's future success...You, might actually want to exhibit it, like actually ....buying some shares to support the process of supply and demand and helping the 'useless bod' 'poor unclear RNSs' etcetera & the share price actually move up...Talk is cheap.I bet the Bod have a look at the volumes traded most days and weep..

[dbarr0n] 17/8/2015 23:31

ravin..
A successful year in the oil exploration and production sector is one you survive in the present climate,
When Petroneft put out that figure I gather they hoped to have at least three, maybe four horizontal wells drilled before year end, they are in the horizontal section of their second horizontal well so depending on whether they drill on or two vertical wells next they might get a third horizontal well in before year end.
As for the OIL India forecast, remember Sibkrayevskoye is a big field 50 million barrels +, latest seismic indicates that the field could be much bigger, maybe 80 million barrels. I would imagine this field will be drilled with a minimum of two rigs as it would need 15 - 20 horizontal wells and 15 - 20 vertical wells.
Also there is several large prospects in the south of the licence that have yet to be explored.

I have updated the current production graph ( link in header ) also updated the possible future graph based on current results and drilling with just one rig going forward ..

[steelwatch] 17/8/2015 22:39

ravin - prefer the Company to under promise and over deliver going forward. Also think it wise for private investors to keep expectations reined back until production is seen to be growing sustainably. For instance 2P for Tungolskoye is now likely to come in under expectations now the water contact has been established 5m higher than expected.

[ravin146] 17/8/2015 20:04

Steel, dbarron et all...what is a successful year for ptr?

I always stated that when ptr announced that forecast I wasn't sure if the decision to release that was good or bad.

On the bad side, the Bod's measure of success will be measured by not the range 3500-4000. Imo surpassing 4000 is what shareholders will want not reaching 3500, esp with oil looking like falling below 40. BUT released with a re-rate RNS showing a reserve upgrade could be all that's wanted by shareholders. (Where is oil India getting getting their forecast, IMO if I remember correctly, 20k bopd in x years in their recent annual report)

I hope it is the reserve upgrade scenario. 6-7p plus easy. Imo dyor

[steelwatch] 17/8/2015 17:29

sean - The "target" is between 3.5 and 4k. PVR has not set the bar at 4k specifically. Please read posts earlier today for background.

[seangwhite] 17/8/2015 17:12

Very clear info on Db.'s spreadsheetStill looks a tad tight for 4k this year.Let's see what Natlata does if the output does not meet guidance.VGLTA

[ravin146] 17/8/2015 17:00

so a 6m trades....slowing adding up...

[rockin robin] 17/8/2015 16:38

Whatever it is. Shows confidence imv.My little top up, showing as a sell today.C'on PTR.10p - when 4,000 bopd is hit - easy.

[tens machine] 17/8/2015 16:10

2 x 3m trades , at first glimpse maybe a rollover. but is this a CFD stock in reality ?