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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
  0.00 0.0% 3.85 3.80 3.90 3.85 3.85 3.85 373,154 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.2 -2.7 -0.4 - 32

Petroneft Resources Share Discussion Threads

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DateSubjectAuthorDiscuss
24/8/2015
13:15
Nice one Granto...
rockin robin
24/8/2015
12:12
I think it was a discussion, Rav. Unless I'm misunderstanding I think Granto spoke with them rather than had correspondence other than introductory ones. Maybe I'm wrong.
kevjones2
24/8/2015
11:34
granto can you post PTR's response on here as atm it is still your view on their discussion.
ravin146
24/8/2015
10:58
I discussed T-503 with the company, On July 22nd the company announced it had a flow rate of 675bopd at that time. That is 100% the case. However, the average over the prior 5 days was an average of 550 bopd. In time this quickly fell back to 500 bopd. This is quite typical of Hz well. The company is pleased by this result and say it met expectations. I have a decent discussion on rigs and drilling and the advantages and opportunities that the different frilling rigs offer us. Russian standard, Top drives, Mobile rigs that can move etc etc. The land here/there is very marshy and the large exploration rigs can only drill one well a year, and then it must want there until the next year for winter roads. The local drilling firms are well used to this. The use and success of non top drive drilling rigs offers huge potential and more mobility etc. this was the focus of our discussion, and while production figures play a part in this, the objective is clearly to control cash, and focus on low hanging fruit using the standard russian rigs, also I imagine license 67 will not come into play for several years, 2017 at the earliest I estimate. In this low PoO environment this makes complete sense. The results from the 3D have not been released but I understand they should not throw up any nasty surprises and are consistent with previous data from the license there. I can say having discussed a range of matter and issues I found the mood and tone of the company to be cautiously upbeat and pleasant, I lot more technically professional and commercially focus than I gave them credit for. Having been through the pain of previous years they are very focused on cost control, I expect a steady ship here for the next few years, lots of tie ins, and careful planning. In a market where many Oil Firms will go under, PTR will prevail. No debt, already producing oil in a low cost, dollar-Ruble hedged market, infrastructure in place at a cost of $100m (paid for), a powerful JV partner. The golden question is where will the money come from to develop the SIB area. It will cost $20m to $30m to get this up and running. and double that as it expands. However, as we are already past break even here, any additional oil should give $10s of millions each year. Lets assume we get $10 a bbl profit, on 5,000 Sib barrels, by 365 days a year. = $18,250,000 P A. In this environment, its hard to make quick money in OIl… but PTR does offer long term prospects and is a safe house for Oil investors. DYOR - GLA
granto2
23/8/2015
21:44
RavThe BOD have managed to get themselves a reputation for being 'economical with the truth' by continually putting out RNSs with anomalies to put it politely.If the next RNS gives T502 initial flow at say 500+ and then gives PTRs total output at sub 3k we will need guidance on T503 and hence decline rate on the existing vertical wells.Let's hope for more clarity and of course a decent flow rate for both 502 & 503.VGLTA
seangwhite
23/8/2015
20:23
Steel exactly my point, how far over will it continue...will give insight on the area and progress on achieving that target.Note bod said post cleaning that well will actually be up near 675...but went down?! No explanation in last rns.
ravin146
23/8/2015
10:52
The T502 should be finished and it's results in the next RNS which will hopefully be fairly soon.Hopefully T502 will produce at similar rates to the initial 503 results.The continuing output on 503 will be of interest as a pointer to how the horizontal wells will perform in terms of time and rate of decline.VGLTA
seangwhite
23/8/2015
10:43
ravin - the 12 Aug update stated: "The T-503 well at Tungolskoye continues to produce over 500 bopd". How far over remains to be seen, unless granto pinned it down in his discussions?
steelwatch
23/8/2015
10:24
Sean I think I'll leave it at that lol.The next rns is key...if that t-503 well reduces production from 500. I don't think target will be reached. Unless they fast track more wells to be drilled.
ravin146
22/8/2015
22:23
Sean, regarding the bod over-promising, maybe that's why they have made no promises this year.
kevjones2
22/8/2015
22:04
RavWe view it differently but as holders want to see the Company valued a lot higher than the current share price My take is that without meeting or exceeding guided production PTR having larger reserves means very little.This BOD has over promised and really under delivered for a very long time.I do think we need Natlata to make a move but can understand why they just lurk in the background for now.VGLTA
seangwhite
22/8/2015
22:04
I think the 3.5/3.8k bopd expectation by year end has already been scuppered by the fact that Tungolskoye is producing less than ...well, expected. Unless another well produces more than expected (there's that word again) then 3.8k bopd will not be realised. That is the nature of the industry. Not every drill will reach expectations and some might even over-achieve. An expectation is an aspiration, not a cast-iron prediction by any stretch of the imagination.
kevjones2
22/8/2015
18:09
Lol Sean your response...I give up! Read it carefully.Production growth is a must, but that alone won't rise sp, is my point.
ravin146
22/8/2015
17:29
Natlata, remains to be seen how they play this, I have no objection to an offer for the entire company, However, a takeover by voting with 29.9% to control the board wpu;d make much more sense to them
granto2
22/8/2015
14:19
RavPTR has always had a fairly decent reserves number so an increase will not help lift the share price much.They have to show rising production with profitability before the reserves will be given a decent valuation.If they miss the year end 3.5-4k number adding big numbers to the reserves will mean nothing.Still believe Natlata & Co will make a move in the near term.VGLTA
seangwhite
21/8/2015
21:28
Lol Sean you are right there...my point was that it was a lagged move, in which it was a delayed reCtion to the market.It's like me saying the eg Greek stock market went up 20% today after a bailout agreement was finalised by lawmakers, where's ftse only went up 1.5% post inflation report. *greek stock market has fallen 85% in the last 6months Perspective is everything. I've said this before, but 3500 to 4000 or past 4000 may be reached. But with so many unknowns oil price, possibility a well may not reach target, natural decline etc...the real share price re-rate will be a reserve upgrade. Simple.Gla, dyor.
ravin146
21/8/2015
21:00
Well Granto to be holding its own when it's near historic lows is not really cutting it in my view.VGLTA
seangwhite
21/8/2015
09:33
since the summer the FTSE is down 10% and PTR is up 15%…. Oil companies are getting butchered…. Rockhopper is down 50%. and it was a shinning star of peoples hopes , or some people's in London.
granto2
21/8/2015
09:08
considering the market is free falling...ptr is doing ridiculously well to hold value...lagged move?
ravin146
20/8/2015
13:57
Chris PTR was unlucky. If PoO had stayed at $100 a bbl. we would be getting 55% or $55, and a clean $28 profit on current production. $28 x 4000bopd, x 365 days and you have $40,880,000 profit a year. we were one F--king year late. I rarely curse but good lord. $40m a year PROFIT and a programme of works lined up in SIB, and elsewhere. Yep, I feel unlucky too, BUT the flip side is, if the Oil India deal didn't come, we could have went bust. so I guess stuck in the middle isn't such a bad result after all….we still have hope right ?
granto2
20/8/2015
13:35
Thanks Granto - Hope you are right
chris cat
20/8/2015
12:58
Based on my discussions with the company I am satisfied that the complexities that occurred on T-5 should not be encountered again. by focusing on the J1-1 zones and keeping away from the J1-2 sands, this will hopefully eliminate any influx of water from the remaining wells. The strategy appears to be, 1 drill vertical wells first to the J1-1, and use this data, matched with the seismic data, to drill the Hz wells. I am pretty confident this will be a success. it does make Tung a little more complex than everyone thought but it is certainly manageable and the next hz wells hopefully will continue to produce 100s bopd each.
granto2
20/8/2015
11:39
Granto - Much appreciated, sadly it isn't what I was hoping for. My concern is that we need to borrow, so we get seismic that shows more than 50m bbl, we then crack on and find that the geology is like Tung and consequently have less barrels than we thought not more - we are then screwed. I appreciate that this may seem a little pessimistic but given our history one has to tread carefully. It is also strikes me that we always have an excuse/problem. i.e. credit crunch, poor geology, oil price collapse etc. It's like when you have a friend that always seems to be unlucky - unfortunately their luck rarely changes. I stay invested but more in hope than expectation.
chris cat
20/8/2015
10:12
Hi Chris, the carry will be mostly used up by the end of the year. where did the money go? 1 new wells 2.2D seismic 3 new pipeline. all this increased production and put the infrastructure in place to develop the license. I had heard elsewhere that the Oil India money would be all but gone by the end of this year, and this is now definitely the case. In terms of SIB, The 2D seismic is already done and paid for, as are the wells already completed. I can't say for sure where the money to develop this will come from. My own unqualified guess is we may have to borrow some if not all of this. However, it is worth pointing out that we will be making a small profit by then and will have reached critical mass break-even, so the profits from this additional oil will be 'above the line' and highly profitable.
granto2
20/8/2015
09:41
Hi Chris, the carry will be mostly used up by the end of the year. where dd the money go? 1 new ells 2.2D seismic 3 new pipeline. all this increased production and put the infrastructure in place to develop the license.
granto2
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