Petroneft Resources Share Discussion Threads

[kevjones2] 31/8/2015 13:23

Old article from NDTV contains the paragraph below which is relevant to our current discussion.

"OIL also has the right to become the operator of the Licence should there be a substantial change in the management team of PetroNeft within the first three years."

[ravin146] 31/8/2015 10:10

^lol at that response and last line. Shocking that investors don't really care about the management, how it's run etc expecting the share price to miraculously jump?! Maybe it's just the new investors.Steel agree with you. Be carefull what you vote for, and imo either vote, and live with the consequences. But if you do not vote and 'don't care', then don't complain two months down the line the share price dropping.Imo, dyor, gla

[seangwhite] 31/8/2015 10:04

The AGM is in Dublin as PTR is an Irish Company .The AGM will be a useful rehearsal for Wee Tom before the painful PCI meeting where he will have an even worse time.It looks like Natlata might at last make a move.Watch this spaceVGLTA

[tens machine] 31/8/2015 09:59

For Ptr to do this they must be pretty desperate I believe , I would start looking at the job section if I were those directors.Furthermore over the next week or so I believe natlata and overseas will add to their positions strengthening into the AGM and vote. So we will see a holding RNS to lay down their full position.They have even made the AGM difficult to go to aswell having it in Ireland , I know they are listed in Ireland but come on!!Frankly I don't care either way which way it goes

[seangwhite] 30/8/2015 19:18

Let's face facts the share price is down at a level below every equity raising that PTR have ever done.The BOD have bought no shares for a few years whereas Natlata have.I would prefer to see Natlata make a bid as then we would at least have the share in play.The BOD have previously apparently overtures to some shareholders of becoming more communicative and I for one think they have failed dismally.The AGM will be interesting as if Natlata and Co get a few directors on the BOD I suspect OI will do nothing.DF looks safe but others have no holding to speak of and seem to be just more expense than value.

[rich2006] 30/8/2015 19:01

Oil India can have a say on how the Ptr board is made up
All they have to do is buy some shares.

[kevjones2] 30/8/2015 17:42

That Natlata might de-list would be my biggest concern. Remember Matra?

If I remember correctly as part of the farm-out of Licence 61 the bod of Ptr wanted to put themselves up for re-election but Oil India categorically refused. Those one or two posters here supporting a Natlata and/or General Invest takeover need to ask why Oil India absolutely insisted on only dealing with the current bod for a few years at least.

[steelwatch] 30/8/2015 17:16

Ravin - I agree with you. We have no idea where Natlata would take the company, or what their track record is. Let them set out in detail what they plan to do and whether or not they intend maintaining the listing. As I said before, be careful what we all wish for before jumping blindfolded into the unknown.

[steelwatch] 30/8/2015 17:16

Double post.

[ravin146] 30/8/2015 16:34

Like the farmout egm, imo natlata will lose, with bod re-voted. *unless the next rns is disastrous, wouldn't change things just yet. Other small oil companies are either stalling capex or falling like dominoes with the oil price crash. At present it'd be silly to change the bod, with oil our partners supposedly happy and paying our 'bills'.Imo, dyor. Gla

[spudders] 30/8/2015 11:06

I'm voting to get shot of Ernst & Young. Surely we only need a one man band with our t/o not a global money eating monster 😛. With so many shares trading at big discounts it's hardly surprising there is little interest here, why risk your cash in a foreign land with so many British companies giving good returns. There are not many companies that give a sh1t about PI's until their heads are on the block and this appears to be one of those times" Your vote is important ".

[base98] 30/8/2015 10:40

PR sourced from Bridgwater Road, Bristol.................however and from a PI,s viewpoint, I,m not convinced that the Natlatas of this world represent a "blue yonder" either. Yes , the BOD need to improve their overall performance but I tend to think that their agreement with Oil India was an outstanding piece of business,bearing in mind the situation in this field and it saved PTR.
We are still early into the pact and I feel we have not seen the only OI move in this area,remember this BOD have a good business relationship with them.

[ravin146] 30/8/2015 09:56

I'll try and dish out done research here, natlata we kind of know who they are but who the heck is overseas. Won't even think about voting until well result released, if really bad will consider but without knowing who overseas are no chance.Ten, these letters are automated to all shareholders. Prob pr company did it.

[tens machine] 30/8/2015 08:21

It's a bit ironic that they do not answer my emails , yet send me letters don't you think.

[rich2006] 30/8/2015 00:04

Carlo
Spot on.

[carlo sartori] 29/8/2015 23:52

Personally I think the Board are worried for their seats/control of the company. I was at the meeting in Dublin in May 2014 at which Natlata ridiculed the Board and there was obviously no love lost between them. Now that Natlata have an increased holding I think they will seek to get a seat on the Board and will vote against re-electing the current incumbents - and I think they will succeed this time.

I spoke with some Board members that day in May 14 and I expressed my concern at their poor communication with their shareholders. They suggested that they understood my concerns and the concerns of shareholders generally and I "felt" that they meant it, but nothing much has changed really, so in a sense I think they will just be getting their comeuppance if they are outvoted at the AGM.

Just my opinion, interesting times ahead.

Carlo.

[seangwhite] 29/8/2015 21:21

I hope we get a really decent RNS on T502 and total output on 61 before the AGM as without it I feel we are in for a period of uncertainty.The BOD have not been great performers for a long period and without evidence of a plan that works to raise output in the future I think the AGM could be their swan song.Let's see how T502 comes in and if results are good it looks an easy task to raise output.

[steelwatch] 29/8/2015 19:40

Be careful what you wish for I say.

[rich2006] 29/8/2015 18:36

seems like the Agm could be quite interesting this year
It a shame the board do not spend a little more time on their RNS's
Or even giving a shareholder newsletter every now and then to ensure
That shareholders are kept up to date and fully informed.
But now coming up to the AGM they want us to dig them out of the hole
they have dug for themselves.

[tens machine] 29/8/2015 18:26

from other shares i've held i meant ( a letter home)

been in since late jan if that actually matters, well results will not stop corporate activity . if your cards marked it will matter not a jot if PTR P+A or have a gusher.
happy to sit on the sidelines and watch it unfold . but a wake up call is possibly required

[ravin146] 29/8/2015 16:41

"i guess they are worried cus i haven't had anything like that before"

Ten I thought you said you only recently invested?! What other letter have you expected if only been here recently?

#justsaying

This is odd as I'd rather see the next well result before voting.

[tens machine] 29/8/2015 14:47

inclined to vote not to re elect just to shake this up

[seangwhite] 29/8/2015 12:07

The old boys on the BOD are waking up then at last, a bit like Rip Van Winkle.I suppose Wee Tom needs his seat at PTR as his own and his big mates seats at PCI seem to be getting fairly hot right now.Anyway I hope the BODs new found need to contact the poor investors continues for a good while longer.I wonder if Value4Petroneft will now awaken!VGLTA

[base98] 29/8/2015 11:37

Tens........Good morning, Same here, first contact in 8 years!!

[tens machine] 29/8/2015 10:37

i've recieved a letter from Petroneft this morning asking me to vote for board members that are up for re election

i guess they are worried cus i haven't had anything like that before