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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 41851 to 41875 of 46575 messages
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DateSubjectAuthorDiscuss
03/9/2015
09:06
Lets hope T502 does not suffer the problems that seem to have beset PTR over the years (T5 cable cut!!) and produces a decent quantity of oil.My lack of respect for our old BOD has come about from seeing the way they have been too slow to deliver both in newsflow clarity and financial prudence.Large sums were spent on infrastructure and then no oil was capable of being produced to utilize them.The use of only one driller for so long did not make sense.Natlata and Co are here and have paid for their shares in the open market.They will want to do something with them and as there seem to be no other buyers have a problem.OI could buy PTR with petty cash and that maybe the saviour for all PTR holders.VGLTA
seangwhite
03/9/2015
08:21
Ravin I was just replying to Db's questions. I am not sure if Natlata have been a thorn or have prompted the Bod into action or was it oil India who prompted the change in drilling Horizontal wells.
rich2006
03/9/2015
05:54
Rich, with all respect, I not sure why we are having a discussion on why a 'letter' was sent out?! It's been sent out end of. What else would you do if a hostile group who cause, not nessarily trouble, but so far been an obstacle in making decisions eg farmout. Note if natlata did not get involved in the farmout, and delay it we could have been near 4000 now! Bod can't do much about stake building, but if you were bod would you send out a letter to help current bod to e re-elected? Imo
ravin146
02/9/2015
23:07
Dbarron Normal practice by the odd company maybe but it is not normal practice for most listed companies and petroneft did not do it prior to Natlata appearing on the scene. But you are entitled to believe what you want to believe..... To name but a few... Clearer RNS's that gives information in a consistent manner, does that not make sense. A company newsletter or some company PR, would that not make sense. Anything that would help raise PTR's profile and image IMO would make perfect sense.
rich2006
02/9/2015
22:08
Sean, you seem to have a particular dislike for Tom Hickey's abilities. You also seem to love the idea of Natlata taking over Petroneft. Yet the only board member that Natlata did NOT want to replace was Tom Hickey.
kevjones2
02/9/2015
21:05
rich, I did get the letter and yes its is normal practice by several companies, I would like to see your answer, I have read every post here and haven't seen one that set out what they thought the company should have done but didn't that made any sense.. sean, Tom Hickey has plenty of experience besides PCI, and doubt what he is paid here could be called a waste of money. Thomas Hickey Independent Non-Executive Director, Age 47 Mr. Hickey has been a Non-Executive Director of the Company since 2005. He is Chairman of the Audit Committee and a member of the Remuneration Committee. Mr Hickey was Chief Financial Officer and a director of Tullow Oil plc from 2000-08. During this time Tullow grew via a number of significant acquisitions including the $570 million acquisition of Energy Africa in 2004 and the $1.1 billion acquisition of Hardman Resources Limited in January 2007, and through exploration success, leading the establishment of new oil provinces in Ghana and Uganda. The Company now has market capitalization of over 9 billion. Prior to joining Tullow Oil plc he was an Associate Director of ABN AMRO Corporate Finance (Ireland) Limited, which he joined in 1995. In this role, he advised public and private companies in a wide range of industry sectors in the areas of fund raising, stock exchange requirements, mergers and acquisitions, and related transactions. Mr. Hickey is a Commerce graduate of University College Dublin and a Fellow of the Irish Institute of Chartered Accountants. He is also a non-executive Director of Ikon Science Limited, a geological software company in which Tullow is a significant minority shareholder
dbarr0n
02/9/2015
20:48
i don't think there is any right or wrong either way your personal choice in the vote , more of the same or just maybe as libra says stir the pot. thats why i'm happy either way as i intend to hold these for the forseeable future. renumeration costs mean little , its what they bring ...now should be down to PTR effectively communicate their roles and value to shareholders . doubt its vakha and tom's only income , i'm sure they are both wealthy individuals if natlata have GI overseas on board it will make little difference ,what us PI's or PTR vote..end of. i expect a further holdings RNS before AGM , some chunky trades a few weeks ago into a rise not declared as yet... GLA
tens machine
02/9/2015
20:42
Steelwatch What would you call it, and maybe "begging" is a bit harsh but there are not many listed companies who send out these kinds of letters just for fun for a Standard AGM. I do agree all shareholders should Make their vote count. Just for the record I am not a fan of Natlata/GI, as who knows where that road could end up taking us. I was just pointing out the PTR Bod do not make it easy for themselves. Nationwide now there's a blast from the past. Lol I prefer the Yorkshire building society myself and I vote every year.
rich2006
02/9/2015
20:26
Wee Toms £28k seems like money wasted to me as his reputation is not that high after being sat on by B B.Mr Sol seems better value per £ paid and has local knowledge.Roll on T502 results with it hopefully coming in over 500bopdVGLTA
seangwhite
02/9/2015
20:26
..and nicking the sambos too eh?
steelwatch
02/9/2015
20:22
So LibraG, you'll be voting against the bod's resolutions which have absolutely nothing to do with Natlata because even though you're not sure 'about the Natlata history' they (Natlata) have your sympathy? Good luck with your investments. Ya gotta love democracy!
kevjones2
02/9/2015
20:03
Just read the discussion re. BoD share purchases. Interesting reading and thanks. I do worry if a BoD doesn't have a sizeable sum personally invested. Not sure about the Natlata history but they have my sympathy. I'll be voting against the resolutions and hope it stirs the pot.
librag
02/9/2015
19:13
rich - I had the letter, though would not describe it as "begging." Also get similar from the Nationwide Building Society, LOL, come AGM time, urging me to support. All shareholders should be encouraged to vote in the interest of democracy.
steelwatch
02/9/2015
19:02
Dbarron Did you not get a letter? I guess they sent the letters out because it was a good use of company funds and that it is normal practice coming up to an AGM. Lol 3. Is simple maths and yeah your right there are no guarantees, however confidence is contagious. There have been numerous posts previously posted on how the Bod could of done things differently so no need for me to go over it again especially as you as usual have your rose tinted glasses permanently fitted. That's Enough rubbish from me
rich2006
02/9/2015
18:56
Total remuneration for 2014 was: Tom Hickey US$42,913 = c.€38,158 or £28,002 Vakha Sobraliev US$28,609 = c.€25,440 or £18,670 at current rates of exchange.
steelwatch
02/9/2015
18:37
..or to be more precise: ORDINARY BUSINESS 1. To receive, consider and adopt the accounts for the year ended 31 December 2014 together with the Directors’ and Auditors’ Reports thereon. 2. To re-elect Mr. Hickey as a Director, who retires by rotation in accordance with Article 89 of the Articles of Association of the Company. 3. To re-elect Mr. Sobraliev as a Director, who retires by rotation in accordance with Article 89 of the Articles of Association of the Company. 4. To re-appoint Ernst & Young, Chartered Accountants, as Auditors and to authorise the Directors to fix the remuneration of the Auditors. SPECIAL BUSINESS 5. That, in substitution for all existing authorities of the Directors, pursuant to Section 1021 of the Companies Act, 2014 (the “2014 Act”), the Directors be and are hereby generally and unconditionally authorised to exercise all the powers of the Company to allot relevant securities (within the meaning of the said Section 1021 of the 2014 Act) up to a maximum amount equal to the aggregate nominal value of the authorised but unissued share capital of the Company as at the date of passing of this Resolution. The authority hereby conferred shall expire (unless previously renewed, varied or revoked by the Company in general meeting) on the earlier of the date of the next Annual General Meeting of the Company held after the date of passing of this Resolution and the close of business on 18 December 2016, save that the Company may before such expiry make an offer or agreement which would or might require relevant securities to be allotted after such expiry and the Directors may allot relevant securities in pursuance of such offer or agreement notwithstanding that the authority hereby conferred has expired. 6. That the Directors be and are hereby empowered pursuant to Sections 1022 and 1023(3) of the 2014 Act to allot equity securities (within the meaning of the said Section 1022 of the 2014 Act) for cash pursuant to the authority conferred by Resolution numbered 5 above as if the said Section 1022 of the 2014 Act does not apply to any such allotment provided that this power shall be limited to the allotment of equity securities: a) in connection with the exercise of any options or warrants granted by the Company; b) (including, without limitation, any shares purchased by the Company pursuant to the provisions of the Companies Act 1990 and held as treasury shares), in connection with any offer of securities, open for a period fixed by the Directors, by way of rights, open offer or otherwise in favour of shareholders holding Ordinary Shares in the capital of the Company and/or any persons having a right to subscribe for, or convert securities into, Ordinary Shares in the capital of the Company (including, without limitation, any person entitled to options under any of the Company’s share option schemes or any other person entitled to participate in any of the Company’s profit sharing schemes for the time being) and subject to such exclusions or other arrangements as the Directors may deem necessary or expedient in relation to legal or practical problems under the laws or the requirements of any recognised body or stock exchange in any territory; and c) up to an aggregate nominal value not greater than the nominal value of 10% of the issued share capital of the Company from time to time; each of (a), (b) and (c) above being separate powers, which powers shall expire on the earlier of the date of the next Annual General Meeting of the Company held after the date of passing of this Resolution and the close of business on 18 December 2016, save that the Company may before such expiry make an offer or agreement which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance of such offer or agreement as if the power conferred hereby had not expired. 7. That the Memorandum of Association of the Company be and is hereby altered as follows: a. in clause 3(1)( j), the words “Company’;s holding company (as defined by Section 155 of the Companies Act, 1963)” be deleted and replaced with the words “Company’;s holding company (as defined by Section 7 of the Companies Act, 2014)”; and b. in clause 3, the words “Companies Acts, 1963 to 2005” be deleted and replaced with the words “Companies Act, 2014”. 8. That the Articles of Association, in the form produced to the meeting and marked for the purposes of identification with the letter “A”, be and are hereby approved and adopted as the Articles of Association of the Company in substitution for and to the exclusion of the existing Articles of Association.
steelwatch
02/9/2015
17:57
God help some investors going blindfolded into the AIM market!The vote is to re-elect the respective current bod. Not on natlata jumping in! Whether they want to is another question but that will have to be on another game if they desire.Gla.imo
ravin146
02/9/2015
14:45
From RNS May 22nd 2015 re: Sib: "A development decision is expected in Q3 2015 with a view to the field being brought into production in 2016 utilising a combination of horizontal and vertical wells. A reserve update will be prepared at the end of the year incorporating the new seismic and well data." From RNS July 22nd 2015 re: Sib: "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." So Sib plans will be updated at the end of the year. From RNS 12th August 2015 re: Tungolskoye 502 "The horizontal segment in the T-502 well is currently being drilled and is expected to be completed later this month. This well is located on the eastern crest of the structure targeting the J1-1 sandstone using the T-5 and T-508 wells for geo-steering guidance." T502 could already be finished. They may be waiting to do update on it along with AGM in next RNS. It's only 3 weeks since last Operational update.
kevjones2
02/9/2015
13:31
It is hard to see where PTR can go with such a large shareholding in hands that are none too friendly with the existing BOD.That said imminent results from T502 and the Sib seismic (indicated at end Summer15- now) could help raise the Company profile and even the share price An update on trading would also help and make Natlata more positive.Any bets on the year end share price being over 5p - finally!!VGLTA
seangwhite
02/9/2015
12:51
rich... (1) Why do you think either Natlata or General invest will vote against any of the following resolutions ?. 1. To receive, consider and adopt the accounts for the year ended 31 December 2014 together with the Directors’ and Auditors’ Reports thereon. 2. To re-elect Mr. Hickey as a Director, who retires by rotation in accordance with Article 89 of the Articles of Association of the Company. 3. To re-elect Mr. Sobraliev as a Director, who retires by rotation in accordance with Article 89 of the Articles of Association of the Company. 4. To re-appoint Ernst & Young, Chartered Accountants, as Auditors and to authorise the Directors to fix the remuneration of the Auditors. (2) Show me the letter you got begging for your vote, (3) You say, If the current board had more skin in the game then they would not be in this position. (Explain ?) Natlata/GI would have less shares and the Bod would have more. (Explain how even if the bod did buy shares that they could guarantee the above). (4) You also say, The Bod have plodded along and not given PI's and shareholders any reasons to back them. Tell me what you think they should have done but didnt ?. (5) The rest of your post is just rubbish...
dbarr0n
02/9/2015
11:36
rich - I have already decided which way to vote and instructed my broker accordingly.
steelwatch
02/9/2015
11:29
Steelwatch Really !!!! It's the other way round, the board put proposals forward and Natlata/GI have the holdings to vote them down. Hence the recent letters to shareholders begging for votes. If the current board had more skin in the game then they would not be in this position. Natlata/GI would have less shares and the Bod would have more. The Bod have plodded along and not given PI's and shareholders any reasons to back them. Consider it this way. You should Buy shares in PTR, we the Bod have some shares but are not buying anymore, but you should vote for us at Agm's to keep us in our jobs so we can earn a decent living, but we are only providing a mediocre service and in reality you would not really believe that we are working for you the shareholders.
rich2006
02/9/2015
10:31
rich - neither Natlata nor GI have put forward any proposals at the AGM to vote down. ravin - all in the Annual Report which is available on the website (figures are in US$ - current rate c. £1 = $1.53).
steelwatch
02/9/2015
09:48
And if the Bod had bought shares they would not be relying on our votes to vote down Natlata and General invest.
rich2006
02/9/2015
05:51
Dbarron agree with most your points, however, completely oppose your views on director deals. As far as I am concerned there is no excuses, no closed period etcAny one know how much the senior bod got paid last year?! How were they paid bonuses and how much?! If it is cash only, wtf is going on?! These directors if not buying shares should be offered shares as bonuses not cash. Secondly, by not buying shares does not give any confidence in the company and the business. As for if any difference in share price maybe not, oil has collapse 70-80%! since nov last year. Confidence it brings is priceless especially when natlata is actually acting like bod's.
ravin146
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