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Share Name Share Symbol Market Type Share ISIN Share Description
Petroneft Resources Plc LSE:PTR London Ordinary Share IE00B0Q82B24 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.15 -3.85% 3.75 3.70 3.80 3.90 3.75 3.90 633,352 15:51:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.2 -2.7 -0.4 - 31

Petroneft Resources Share Discussion Threads

Showing 41701 to 41725 of 46575 messages
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DateSubjectAuthorDiscuss
19/8/2015
19:01
Thanks granto, much appreciated.
danny111
19/8/2015
18:45
So, given the monthly set price arrangement, is it fair to say oil is selling at $26.80 for this month only and will then change (higher or lower) as each month's price is set? The link I provided a few weeks ago regarding the internal Russian oil price seemed to highlight an extremely complicated method of setting the price. Are we talking about the same thing Granto/steel? Edit: this was the link I provided a few weeks ago: hTTp://www.argusmedia.com/~/media/F3AEA4587EFE4F4FA8C0AE2515681C78.ashx Is this the same general method for internal Russian oil prices the people in your discussions used, Granto? Bloody complicated.
kevjones2
19/8/2015
18:22
Steel, your google is correct, I was aware of these costs, I just didn;t want to add too much in and confuse people more than needed. the price I gave included the amount taken off for 'would be' transport costs. I basically included it with the regular taxes. PTR does the same by the way.
granto2
19/8/2015
18:18
Danny, that is the total cost. so yes we share all costs ( bar capex ) and share all profit. Speaking of the costs, I gather this is net operating costs. an accountant may factor in capex by way to depreciation over 10 to 15 years and use it against taxable profits. ( one of the finance guys here will probably be better at accounting for retained losses). But it is fair to say our profits will be tax free for many a year….mind you corporation tex in ireland is only 12.5% anyway.
granto2
19/8/2015
17:46
Further to granto's post above, just googled this: An auction-like process determines the domestic oil price. The agreed price is applicable for one month until the new auction is held. Other factors affect the price besides domestic demand, such as the export price, taxes, pipeline capacity, transport costs and fees. http://www.interfoxresources.se/en/market-overview/russian-oil-market/
steelwatch
19/8/2015
17:17
Granto excellent summary - thanks. Do you happen to know if the $27 production cost is the PTR share or total? I am assuming that Oil India will be liable for a portion of the Operating costs.
danny111
19/8/2015
17:15
Steel, I was in discussions yes. Sean. It is my estimate based on discussions that PTR will be break even this year and will make a modest profit in 2016.
granto2
19/8/2015
16:51
Thanks Granto for the info.If PTR have a production cost at the level quoted the future will not be very profitable for a fair while!VGLTA
seangwhite
19/8/2015
16:50
Well done granto. I take it you succeeded in getting a reply.
steelwatch
19/8/2015
16:25
Loganair, we don't export our oil. it is sold domestically. This currently achieves around 55% of the international price. The domestic prices is guided by the international price less export taxes ( MET and export duty). These were reduced on Jan 1st 2015. It used to be that RF producers would get around 44% of the international price, but since January it has increased to 55%. Transport is also taken off that price. The January tax reduction on Domestic Oil is part of a three year programme to reduce Export duty, however this will be offset by an increase in MET tax during the same period. Russia is part of the customs union and these taxes are being reduced to align with Belerus and Kazakhstan oil export tax. The domestic price we receive will rise again due to the ongoing change in taxes, the next one being on Jan 1 2016, and then Jan 1 2017. But the increase in MET will balance out any gain we make. The oil we sell is indeed what you say it is. companies in West Siberia are currently getting exactly $26.80 a barrel. To the cent. The net cost of producing this is around $27 a barrel for a mid sized producer like PTR. If production was to increase economies of scale will kick in as will profits.
granto2
19/8/2015
15:57
loganair - that would be the export price, PTR currently sells on the Russian domestic market, but the tax take on export offsets any advantage. Hopefully, Db will expand on that.
steelwatch
19/8/2015
15:52
Granto - I'm afraid to say $26.80 per/bbl is rubbish as Urals blend oil trades at around $1 to $1.50 less than Brent and at a higher price than WTI.
loganair
19/8/2015
15:51
sean the answer is marginally in profit. it's tight.
granto2
19/8/2015
15:50
Steel thanks for translation. Great stuff.
ravin146
19/8/2015
15:08
GrantoThanks for the reply on Russian oil price.Anyone care to run numbers on what PTRs cash generation is like on a 4k output figure at current levels.TIA
seangwhite
19/8/2015
14:04
Price Of OIl The price of oil in Russia today is $26.80 a barrel.
granto2
19/8/2015
13:55
It is easy to knock management from the sidelines. The reality is that Oil India did not and would not have bought into License 61 without the current management being in place. To the point that it was agreed that if PTR management were to change in the coming years Oil India would then become the operator of the license. Was that PTR's inclusion or Oil India's, I can't say, but they agreed with it. Now…..what would have happened PTR if that JV was not signed off? allow me to guess..we would losing big money operationally with about 1500 bopd, and we would be hammered with interest and capital repayments from out $30,000,000 loan. we probably would be unable to service the loan and be staring down an awful prospect of bankruptcy . with no money for capex and dwindling pressure in the wells. I estimate we would be losing close to $5million a year and staring into the abyss . Our share price would be 2p. so let's give the BoD credit where it's due. and yes let's highlight annoying areas needing improvement such as in PR, data release, shareholders relations, and websites etc. this is a tough market
granto2
19/8/2015
13:51
It is easy to knock management from the sidelines. The reality is that Oil India did not and would not have bought into License 61, without the current management being in place. To the point that it was agreed that if PTR management were to change in the coming years Oil India would become the operator of the license. Was that PTR inclusion or Oil India's, I can;t say, but they agreed with it. Now…..what would have happened PTR if that JV was not signed off. allow mr guess..we would losing money operationally with about 1500 bopd, and we would be hammered with interest and capital from out $30,000,000 loan. with no money for capex and dwindling pressure in the wells. I estimate we would be losing close to $5million this year and staring into bankruptcy. Our share price would be 2p. so lets give the BoD credit where its due. and yes lets highlight areas needing improvement such as in PR, data release, shareholders relations, and websites etc.
granto2
19/8/2015
13:42
Oppenheimer say that over the next two to three years oil will range between the low $60 and low $70 per/bbl and that many of the smaller players will be taken out by the mid-range and larger players in the oil sector.
loganair
19/8/2015
13:35
Chris Cat. The answer is that the reservoirs on License 61 are a lot more complex than first thought. The rock structures and barriers along the horizontal levels are not a given, and this is a challenge at T-5. It is too early to suggest that PTR will have similar issues in the Sib region.
granto2
19/8/2015
11:12
Microsoft translator: The Tomsk Region is following the negotiations ONGC with Rosneft The largest Indian oil and gas State Oil and Natural Gas Corporation Limited (ONGC) is in talks to expand cooperation with Rosneft, which can be associated with projects on the territory of Tomsk oblast. According to RIA Novosti, said India's Ambassador in Russia Pundi Srinivasan Raghavan, specifying that the main partner of several Indian companies Rosneft and they are in talks to invest in several fields. "They are very interested in this. ONGC has already cemented its presence in the Russian market by investing in projects such as the Sakhalin-1 and "Nord Imperial" in Tomsk, said Raghavan. Earlier the NIA Tomsk, Indian public and private companies considering investments in various industrial sites of the Tomsk oblast's oil and gas sector. About this Raghavan said in May during a visit to Tomsk. "We are considering all the possibilities for cooperation. This includes investments in production facilities, cooperation in the field of natural, liquefied gas, medium and large projects. Now our company ONGC, which is the parent company of Imperial Energy, is in talks with Gazprom and Rosneft on greater interaction. Another company, Oil India, investments which are also present in the Tomsk Region, is also interested in expanding their investment. Oh, and of course, if you still have any opportunities in the Tomsk Region, our company will be happy to use them, especially because they are already here, "said Mr. Raghavan. India's Ambassador also thanked the regional and local authorities for their "warm welcome extended here", and praised the outcome of the "vast meeting with h.e. the Governor of Tomsk oblast, where we discussed in detail the specific scope of the capacity of our cooperation." "For us it is very important that Indian company successfully works in the region. I went on their site today and saw that they have made great strides. And that group of Indians that live here, is according to them in a very friendly and pleasant environment for them, "said Raghavan. He explained the interest in Tomsk Indian companies to oil and gas sector, which was supported at the State level. The year 2014 in December, when President Putin met with the Prime Minister of India, our Prime Minister told President Putin that India is very interested in a significant expansion of its cooperation with Russia in the field of hydrocarbons. Russia is a superpower in this sphere, while in India a huge downside to this resource. And therefore, we are interested in long-term strategic partnership with Russia in the field of hydrocarbons, "said Ambassador of India. The composition of the Indian ONGC State Corporation enters Imperial Energy Group of companies, which includes a group of independent companies operating on the territory of Tomsk oblast. Among them are two oil and gas enterprises (LLC «Nord Imperial "and LLC" Al′ânsneftegaz ") and service enterprises (RUS Imperial Group LLC and LLC Imperial white tie service", 50% of which is owned by Imperial Energy, etc.). Furthermore, in July the year 2014, the Irish company PetroNeft company handed over another Indian company Oil India 50% share owned by Tungol′skim license plot no. 61 in Alexandrovsky district of Tomsk oblast to search for and production of oil. Company company Petroneft owns two licenses for oil and gas stations in Tomsk oblast and operates in Russia through the subsidiary OOO "stimulus-t". Under the contract, the Indian company as part of the purchase of the asset in the Tomsk Region has sent 45 million dollars for the development of the "stimulus-t". Currently in the Tomsk region present a significant amount of subsoil users, including foreign (Sweden, Germany, Australia, Kazakhstan) capital, who have difficulties with the execution of license agreements due to lack of investment. Their assets may be of interest to investors from India. solvent Among them ZAO Tomko», LLC «Svepko», LLC «Petrogrand», LLC «Tomsk oil and gas company Ltd., Siberia-petroleum ", LLC" Tomskgeoneftegaz ". All of these companies over the past two-three years almost completely stopped drilling. Financial problems to a greater or lesser extent, there are nearly all small subsoil users of Tomsk oblast. They affect not only the local and regional budgets, but also on the capital-intensive market of services, also is in stagnation. If you use material reference to the independent news agency is obligatory! http://niatomsk.ru/more/47079/
steelwatch
19/8/2015
10:38
anyone able to translate this article? hxxp://niatomsk.ru/more/47079/
ravin146
18/8/2015
17:46
Malcy has given credence to a few fairly accident prone management teams in his time.Most have stood him a fairly decent few lunches.DF is not known for his largesse so may have to wait for the great Sayer to deign to give PTR a write up. VGLTA
seangwhite
18/8/2015
16:55
Free float...RR if those are buys....where are the sells. It makes no sense as we have seen little sales
ravin146
18/8/2015
16:46
The trend is against oilies at the moment, lots of people de-risking, the good news is it appears PTR has an aggressive buyer or buyers and they slowly are adding and reducing the free float. count your blessings.
granto2
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