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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
  -0.05 -1.32% 3.75 3.60 3.90 3.80 3.75 3.80 1,112,725 15:42:41
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.2 -2.7 -0.4 - 40

Petroneft Resources Share Discussion Threads

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DateSubjectAuthorDiscuss
01/10/2015
11:52
Db Thnaks for that. My point was really that the expenditure should be known and budjected for but the income is a forecast based on variables (output and price).We know that PTR is running behind its year end output estimate and if T501 comes up short it will only increase any gap in cashflow. PTR has a long history of underdelivering and I for one cannot see this changing much until the BOD gets a major revamp. VGLTA
seangwhite
01/10/2015
11:10
Db, is this love? Only love can make people so blind and deaf. The other option is that you are Mr Sobraliyev - the only shareholder of Petroneft who's in-the-money ) Sorry, I don't mean to be personal, I simply wonder what needs to happen for people to realise that spending 200-250 hundred million dollars to produce 2000-3000 bopd is a pretty lousy achievement. Oh, sorry, only half of this is ours. What's the point in all the reserves if you can't get them of the ground and make money?
oilbiz
01/10/2015
10:43
sean... They said in the report... As at 30 June 2015 WorldAce had cash at bank of US$2.5 million and had drawn-down US$41.5 million of the US$45 million Oil India investment. It is expected that the entire US$45 million will be drawn by the end of 2015. Based on current forecasts it should be possible to fund the development of south Arbuzovskoye from 2016 operating cash flows but additional funding would be required to advance other projects, such as Sibkrayevskoye, in 2016. The final work programme and budget for 2016 will be agreed with Oil India before the end of 2015. ................................................................................. Also Petroneft had approx $ 2.5 million cash so as of the 30th of June there was World ace $ 2.5 million + $ 6 million to draw-down + petroneft $ 2.5 million + Oil India $ 2.5 million to match = $ 11 million Dont forget licence 61 produced an average of 1,744 bopd in H1, Petronefts share just 872 bopd. The average for H2 should be somewhere around 2,700 bopd, petronefts share 1,350 bopd or a 55% increase on H1.
dbarr0n
01/10/2015
09:00
DbI think Rav is asserting that PTR will need to raise money (again!).The results and guidance provided show a fairly low Capex for next year which if POO remains at current levels might not be able to be financed from cash flow.T501 should be finished soon and producing.If it only manages the usual 400bopd the coffers might need a top up.Raising money at 3p!!Let's see what Natlata and friends say if the old BOD go touting for funds.VGLTA
seangwhite
30/9/2015
22:36
Ravin ... I haven't a clue what you are asking ?.
dbarr0n
30/9/2015
22:21
Jasper haven't read the whole accounts but wow. Monies all spent by year end, and imo, will need to luckily and do well to hit 3500 by year end. There isn't any clarity this far...how much will ptr need to put in each quarter or how much bopd needs to be produced to find future funding. Who knows if oil falls further? Dbarron et all, was the capex all front-ended to 'set-up'...so the drilling going forward will need cost effective funding, but not near total spent so far?
ravin146
30/9/2015
22:09
CruddeI think many stuck here would see 5p as generous. A bid from Natlata could see DF shuffle off into a well earned and badly needed retirement.Young PD could possibly get a seat on that dynamic E&P PCI where he could try to assist Wee Tom in keeping BB well fed.VGLTA
seangwhite
30/9/2015
18:44
Thetoon..... what do you think Nat would have to bid in order to get their hands on Ptr....???
crudde99
30/9/2015
18:40
Come on Natlatla you know you want to :)Its the only chance we will ever get out with some sort of profit.
thetoonarmy2
30/9/2015
18:36
It's hard watching the share price fall back towards the 3p mark again. I just hope that doesn't happen...!!
crudde99
30/9/2015
18:29
Moan moan moan ............. Can ye at least make it look like ye know what ye are talking about ?.
dbarr0n
30/9/2015
17:39
New Chapter, hmmmmm. Same old same old 😤
spudders
30/9/2015
16:31
DF and PD do not have a busy schedule next year as they will have no real money for Capex unless the POO recovers substantially. But do not worry they have had years of practise of doing very little as old and loyalBOD members of PTR!! VGLTA
seangwhite
30/9/2015
16:25
I did not expect we'd run out of cash so quickly. Debt or dilution, what's next? BoD have chosen a very efficient takeover defense strategy: sell 50%, burn cash, achieve nothing, make enough money to pay the salaries.
oilbiz
30/9/2015
16:04
If Ptr get the remaining 2 wells on line in Tungolskoye by year end will that be the end of exploration there or can they drill more wells in time...?? And....are Ptr only planning to drill 2/3 wells in total next year at Arbuzovskoye as 3 wells doesn't seem like a lot for a years effort....
crudde99
30/9/2015
15:52
Well let's look on the bright side of the PTR share price if it gets down under 3p maybe the BOD might even buy a few! VGLTA
seangwhite
30/9/2015
15:48
July 2014 - 2100bopd 40-45 mln dollars spent September 2015 - 2700bopd/2 Sorry, gents, am I being f..g emotional or is this the new world record in cash burning?
oilbiz
30/9/2015
14:09
Thanks Db! The summary is very helpful! The following estimate is based on market prices in West Siberia (avg or upper range). We also mustn't forget that the company is debt-free and generates cashflow in addition to OI's funding. Units Price Cost Contractor Comments 5 wells at Arbuzovskoye 5 45 225 TBNG The historical cost, although large contract should make the well cost cheaper 1 well at W.Lineynoye, 1 90 90 TBNG Let's assume almost double cost comparing to a simple vertical well 1 delineation well at Sibkrayevskoye 1 60 60 TBNG Higher cost due to exploration nature of the well 25 km pipeline to Tungolskoye 25 7 175 ? Upper range market price Infrastructure at Tungolskoye 1 100 100 ? Upper range market price 5 vertical wells at Tungolskoye 5 45 225 TBNG The historical cost, although large contract should make the well cost cheaper 5 horizontal wells at Tungolskoye 5 90 450 TBNG+Baker, Eurasia+Schlumberger Let's assume double cost comparing to a simple vertical well 1,000 km of 2D 1000 0.4 400 ? Upper range market price Drilling pad on south Arbuzovskoye 1 4 4 ? Avg market price Total expenditures 1729 mln RUR Avg RUR/USD exchange rate (most likely) 60 29 mln dollars Avg RUR/USD exchange rate 55 31 mln dollars Avg RUR/USD exchange rate (highly unlikely) 45 38 mln dollars
oilbiz
30/9/2015
11:52
Danny edited that.. sorry, yes that would have come from their own funds..
dbarr0n
30/9/2015
11:10
Dbarron - good summary. The only point I would question is in respect to the 50% for 3D seismic on licence 67. Why would Oil India allow the use of JV funds for a licence they have no involvement with?
danny111
30/9/2015
11:09
DB - just viewing on my phone, so difficult copying/pasting, but something in the notes to the accounts re currency gains re. the ruble weakness...
steelwatch
30/9/2015
11:02
crudde ... The 45 million will be more or less gone at the end of year. It has and will be been spent on 5 wells at Arbuzovskoye, 1 well at lineynoye, 1 delineation well at Sibkrayevskoye, 25 km pipeline and infrastructure at Tungolskoye. 5 vertical and 5 horizontal wells at Tungolskoye. 1,000 km of high resolution 2D seismic on licence 61. Drilling pad on south Arbuzovskoye. After the 45 million is expended Petroneft have to fund half of the costs going forward. They conclude that with current oil price and production they will be able to fund their share of costs on Arbuzovskoye south from cash flow.
dbarr0n
30/9/2015
10:03
Is Jasper in his 29336 post correct when he states that ALL of the Oil India cash 45 mill will have been drawn down and spent by year end. He sees us as having to "borrow again" to fund other projects in the near future...
crudde99
30/9/2015
09:48
Oh I remember the good news Db. I'm quite excited about what the reserve update will be :) I just would like to see them getting a bit more luck in it getting it out of the ground in an economical manner.
dubhgeannain
30/9/2015
07:29
Toon - any views on how this will pan out? Many thanks.
cfccfc1970
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