Petroneft Resources Share Discussion Threads

[dbarr0n] 08/10/2015 09:32

sean ...
Production from start of the year is up 46%
Net to Petroneft currently 1,350 bopd up from 925 bopd.
Yes we lost 50% of production and reserves on licence 61 in the farm in but now debt is zero, was $ 30 + million.
Petronefts P-2 reserves are currently 72 million barrels and it looks likely they will add 50 - 100 million barrels to this figure in the short term as a result of the farm in expenditure.

[ravin146] 08/10/2015 05:57

Why would natlata want to move on when in fact signs are there that natlata are continuing to accumulate at cheap levels.Db you can't complain about complainers. Investors have a right to pin the bod's decisions. What exactly do you expect investors to feel when shareholder value has been destroyed?! Natlata hurry up put this pressure on to change the directors!

[telegraph1] 07/10/2015 22:50

Natlata want the licence they don't want to move on

[steelwatch] 07/10/2015 22:50

Db - I'm sure sean is trying to brainwash us all, LOL.

[seangwhite] 07/10/2015 22:44

DBI made an error in believing the BOD could actual do what they guided.The increase in output you refer to has to be balanced by the 50% now going to OI. The BOD needs a revamp and then maybe PTR will realise a decent price for its assets.Natlata might also be feeling like moving on but it is not easy for them to do that without taking a fair hit.VGLTA

[dbarr0n] 07/10/2015 22:32

sean ..
I dont know why you are invested here, you do nothing but moan,
if you are that unhappy why not pack up and go somewhere else ?.

The production figure is up 850 bopd this year to date,
How can you say its beyond this bod to rise production ?.

[seangwhite] 07/10/2015 19:35

If we assume the upcoming report on the seismic by the CPR lifts the P2 figure on Sib does anyone think the share price will rise proportionatly.I doubt it will have much effect unless the production number has risen which has always been beyond this BOD to accomplish.Any talk of bids at 6-7p is just an abberation.VGLTA

[ravin146] 07/10/2015 18:08

Crudde companies are not valued by what you put in, it's what it's valued at as a whole. Ptr is currently being mopped up ridiculously cheaply beneath our eyes, it's a shame, the price doesn't lie all the time. Oil has rallied back over the last few days, Russia is now saying they fired at other groups, share price doesn't react.Not even a word about the two large shareholders continuing to accumulate imo at last agm. Gla.imo. 6-7p bid would be nice at the moment.

[crudde99] 07/10/2015 17:18

6-7p would put a value on Ptr of approx 50 mill... Not a lot when you account for all that has spent by management here from day one...!!! That wouldn't even pay for the infrastructure let alone production and reserves... Awh well, I guess it is what it is... GLA

[ravin146] 07/10/2015 16:33

6-7p I'll take that...anyways plenty of accumulation again. Bring on the next holding rns imo, dyor.

[seangwhite] 07/10/2015 16:21

Toon

Most on this BB seem to share your views.Db however is a supporter of the old crew but I for one do not share his admiration for their achievements. The share price is the measure the market uses and it is now at or near to a fifty two week low.The inability to deliver on their own guidance is really too embedded in this BOD for them to ever change.Oil India cannot be too impressed by our old boys performance to date and may want a change at the top sooner than some here think.
Natlata have been very quiet for a while but lets see if they or friends are in the market at current levels.

VGLTA

[thetoonarmy2] 07/10/2015 15:36

crudde99. A low ball bid from the Russians I would imagine circa 5 or 6p initial bid don't think many would accept that though. I do think 8p or 9p in this market well a lot would snap the hands off as much as I would like 10 or 12p it aint happening.
As much as Db puts the case forward for the incumbent Directors and I have to agree they have been at the mercy of market forces/oil prices which was not of there making but the incompetence or let's call it dilatory management over the years makes this something I think the majority would just like to move on to something new this is just tired, I cannot see us ever getting full value from this share unless the Oil india lot make a full bid maybe then we could get circa 10 or 12,me I will take 8 or 9 now got other fish to fry.

[granto2] 07/10/2015 09:29

I'm long term so not watching the SP….more interested in the reports.

[steelwatch] 07/10/2015 08:20

Ravin - which large oil co?
Above is for AIM.

[dbarr0n] 07/10/2015 07:46

ravin.. from above
directors and other PDMRs are still prohibited from dealing if there is undisclosed inside information.
What about the seismic that has been done on both licences ?.

[ravin146] 07/10/2015 05:54

Dbarron thanks, but from that I thought I check out a large oil player. Non stop drilling etc...director buying is carried out. ?!

Edit: @Steel, surely the rules are teh same with any listed company, i was looking at Bp plc.

Edit: @Dbarron apologies, didn't realise the seismic data is out, its just not been interpreted and published yet.

Nonetheless, it is becoming silly that directors have not bought/not allowed to buy. I'd like to see their salary+bonus over the last year, as I believe there should not be a penny in bonuses unless as shares, even the latter is ridiculous considering the share price has pumped and been dumped.

[dbarr0n] 06/10/2015 22:15

Restriction on deals
21. An AIM company must ensure that its directors and applicable employees do not deal
in any of its AIM securities during a close period. In addition, the purchase or early
redemption by an AIM company of its AIM securities or sale of any AIM securities held
as treasury shares must not be made during a close period.
This rule will not apply, however, where such individuals have entered into a binding
commitment prior to the AIM company being in such a close period where it was not
reasonably foreseeable at the time such commitment was made that a close period was
likely and provided that the commitment was notified at the time it was made.
The Exchange may permit a director or applicable employee of an AIM company to sell
its AIM securities during a close period to alleviate severe personal hardship.


Directors and other PDMRs must not deal in shares during a ‘close period’, that is the period of 60 days before the announcement of annual results or the publication of the annual report (or, if shorter, the period from the end of the financial year to the announcement or publication). In the case of half-year results, it is the time between the end of the half year and the date of publication. If a company reports quarterly, the close period is 30 days before each announcement or, if shorter, the period between the end of the quarter and publication. (The same restriction does not apply to the company’s interim management statement, though a cautious approach would impose a similar 30-day ban on dealing.)
This is a simple prohibition: it is taken as read that, during those periods when financial results are being prepared, senior personnel are likely to have price-sensitive information.
Outside those periods, directors and other PDMRs are still prohibited from dealing if there is undisclosed inside information. (See: Disclosure of price-senstive information, an OUT-LAW guide.) This might be news of a possible takeover, a significant share issue or a big contract win or loss.
Directors who want to deal in their company’s shares must first get consent from their chairman or from another director appointed for the purpose. The same rule applies to the company secretary. If the chairman wants to deal, he should seek permission from the chief executive, and vice versa. Other PDMRs must apply to the company secretary or a director designated for the purpose. In each case, consent should not be given during a close period or when inside information exists, even if the person wanting to deal has no knowledge of it.
In any event, directors and other PDMRs should not deal in their company’s shares on considerations of a short-term nature. An investment of less than one year’s duration will be considered short-term, and consent to deal should always be refused in such a case.
These rules can be broken only where the person wanting to deal does not in fact have any inside information and can show they are in severe financial difficulty or there are other exceptional circumstances (such as a legal requirement to sell). In that case, the FSA has to be consulted before permission is given.
Requests for clearance and the consent or refusal should be in writing, and records should always be kept. Having been given clearance, you should deal as soon as possible and, in any event, within two business days. Miss that time limit, and you have to re-apply.
Directors and other PDMRs need to ensure that people connected with them, such as family members, and investment managers making investment decisions on their behalf, are aware of and follow these restrictions.

[ravin146] 06/10/2015 22:12

Well someone is still accumulating...in a falling sp, so telegraph it may be the two largest holders. Let's wait for the next holding rns to confirm this though. Imo dyor

[telegraph1] 06/10/2015 21:17

I think this price is being played down and we will get some form of low ball bid soon

[ravin146] 06/10/2015 21:12

If this hits 3p I'd like a rns explaining bod view on fall or re-assurance with positive well result. External factors like oil price and Russia is out of bod's control.Dbarron this is a oil company, this closed period scenario will mean if drilling is what the business is about, directors can rarely buy shares and give shareholders any confidence. They've not bought in years! Anyone have a official regulatory lineon this 'closed period'?

[steelwatch] 06/10/2015 18:12

toon - could also be some bleed off into Serica or similar.

[crudde99] 06/10/2015 17:49

thetoon..... what would you consider to be a "low ball" bid...?? And what would a perceived bid have to be in order to coax the average Ptr shareholder on side...??

[ravin146] 06/10/2015 17:46

Nah not bogeyman. It's Russia related selling or just selling. Hit another recent low. 3p could be on the cards here as I can't see the Russia intervention in other countries, a positive.Imo

[thetoonarmy2] 06/10/2015 17:11

Steelwatch think you got it in your second comment:) think the price is being played by a few people and maybe DB is right if we get a bid it will be low ball which no one wants. Oil $48.50 get through 24 hrs at that next chart resistance evel is $55 hopefully!