Petroneft Resources Share Discussion Threads

[ravin146] 12/10/2015 05:58

One important thing...just want to know, who is selling? Still no rns on equity sales.

[seangwhite] 11/10/2015 23:03

It's been a while on drilling T501 and the Company has guided for a longer testing prior to giving out results but maybe when it comes it could stop the drop in share price The share price may drift lower next week as there seems to be plenty of supply by sellers even at this low share price level.Db is a loyal supporter of the BOD and if more of his kind bought shares the decrease in share price could even be curtailed for a while.Share buying by the BOD would obviously not be allowed for historical reasons!VGLTA

[ravin146] 11/10/2015 14:08

Dbarron. As I said earlier disagree with you there. Not prepared to sit here see this head past below 3p and who knows literally become a penny stock.Needs change, no harm in trying.I'd like some form of answer on future funding, in the next rns.Dbarron loyalty you have, but I hope you have averaged lower.

[dbarr0n] 10/10/2015 23:02

ravin..
You can reshuffle the bod all you want,
It wont change the oil price, wont change the drilling results wont change production and likely wont change the SP, it could actually make it worse.
Natlata are not going to loan anything to anybody, did you not see what they wanted to do just over 12 months ago ?.

[ravin146] 10/10/2015 18:01

Rich, agree.Back to square one.Db has backed this bod non-stop. I disagree, and believe the bod needs a shuffle. Maybe natlata can propose a new partnership plan that means they offer a loan as part of the agreement?Not sitting here see this share de-valued continuously. Gla, imo. Bring on this bid!

[steelwatch] 10/10/2015 17:42

Incidentally, it occurs to me Oil India may be able to advise as, presumably, they too no doubt need to source lending facilities as do probably all players in the industry no matter what size.

edit: actually, thinking about it, World Ace Investments Limited is 50/50 owned by PTR and OIL and Licence 61 is now directly owned by World Ace. Maybe PTR itself just needs an overdraft facility whilst capital for Sib is raised by the JV through World Ace

[steelwatch] 10/10/2015 17:34

sean - Your statement that "PTR cannot raise equity" is based on what exactly?

It is possible, subject to the next reserves update on Sibkrayevskaye and Emtorskaye, not forgetting also Cheremshamskaye and Ledovoye, that development finance might be obtained to develop to achieve your steady increase in production. The use of borrowing to fund development is the industry norm.



OK, I am guilty of repetition, or does that go for both of us, LOL

[crudde99] 10/10/2015 17:17

The very idea of raising equity at a discount to approx 3.5p is a sure fired way of diluting us PIs totally out of all existance.. It wouldn't surprise me though if the BOD issued more shares "like before" to anyone but natlata as a way of cutting there percentage holding back...!!! Hard to believe that after the recent "transformative" farmout that we are now facing yet another cash crunch..

[seangwhite] 10/10/2015 16:23

I think we all agree that E&Ps are having a rough time of things with the current POO.PTR cannot raise equity in view of the way it is perceived by the market and its largest holders being non too commuted to this BOD.What might be a way forward would be to actually generate a positive cash flow by increasing output in a slow but steady manner.Costs should be cut and then as & if the POO eventually recovers look to sell more of the license holdings.I wonder what Natlata think of our BODs progress to date!VGLTA

[rich2006] 10/10/2015 13:48

DB
I get the point you are making however you cannot just compare
Companies like that. Some are high risk deep water drillers. Etc
Each company has its own profile.
Caza is probably a good example of the situation PTR were in
Prior to the farm out and imp shows why it should be PTRs priority
To be cash flow positive in the current climate and cut costs
To the bone.
Borrowing money to drill Sib and any isuues with production and
We will be back to square one

[dbarr0n] 09/10/2015 23:12

Believe it or not other companies in the oil and gas sector have also had a bad run,
Petronefts BOD are not responsible for the share prices of the companies bellow which is only an example from a long list.

TULLOW OIL 1500P - 250P
JKX 520P - 25P
CIRCLE OIL 35P - 5P
EXILLON 460P -115P
PETREL RESOURCES 150P - 2.75P
RUSPETRO 215P - 6.8P
SERICA ENERGY 120P - 10.85P
VICTORIA OIL AND GAS 10000P - 65P
GULF KEYSTONE 345P - 33P
CARIN ENERGY 465P - 160P
LGO ENERGY 9P - 0.9P
CAZA 56P - 0.675P
SOUND ENERGY 75P - 16.5P
ROCKHOPPER 462P - 42.5P
ROXI PETROLEUM 66p - 9.5p

[seangwhite] 09/10/2015 21:15

GrantoI am happy to add at current levels for some of the reasons you list and feel at some point a bid will come albeit not much north of 5p.The share price is the measure of the Company and of course ultimately the BOD's efforts.A decent rise in P2 will only emphasis the issue of market perception with the share price near to all time lows.VGLTA

[woodpecker25] 09/10/2015 20:47

Some fair points there granto but Db has been singing the board's praises all the way down from 70p! I've been here a long time and his faith in the board has never wavered, which is.... well, let's call it admirable considering we are now at 3.5p.

[ravin146] 09/10/2015 17:21

more accumulation...I personally cant think of anyone else except the two large holders...and continue to buy cheaper than the market price.

IMO.

[granto2] 09/10/2015 17:03

In defense of DbarrOn…

I have lost a lot of my investment here, but I don't blame the management. I think the farm out deal was an excellent deal and conducted under difficult circumstances

The project management of the license has been well considered and reonably well executed. The geology here is not straight forward and the Bopd of individual wells is quite low. Despite this the company has embraced Hz drilling with considerable success.

This is a low cost producer, with zero debt, carried wells to come on stream in months, and a huge infrastructure in place. The reserves are set to double.

The PoO has held this back. So a buy here is a good bet or hedge on oil prices.

Dbarron is getting a lash here. But to be fair, he makes valid arguments.

In any case. Oil is a long play.

wait.

[woodpecker25] 09/10/2015 16:48

Yes RCT - he's been particularly active these recent weeks fighting the BOD's corner! hasn't helped the share price sadly, but at least the BOD are still collecting their salaries, so it's not all doom and gloom.

My guess is that OIL will eventually sell out and Natlata will take it private. Oh, and current BOD will all retire with large pensions!


All IMO of course.

[steelwatch] 09/10/2015 15:46

The norm is to raise funds from the market for exploration and appraisal, but to borrow for development if needs be. If a decision is taken to develop Sibkrayevskaye following the year-end(ish) reserves report, then the Bod would be justified in borrowing to fund field development through to production imho.

[filterwest] 09/10/2015 15:18

So many buys and we are down. wtf!

[crudde99] 09/10/2015 14:37

When is T501 results expected...??? Did the co. hint that they may delay initial results in favour of waiting longer thus allowing them to announce a more stabilized flow rate ..??

[seangwhite] 09/10/2015 13:38

I have to say that if there are 'predators' they are keeping a very low profile in terms of approaching holders or buying in the open market.Roll on the next RNS to see if the team have managed a reasonable increase in output with T501 coming on line.VGLTA

[rcturner2] 09/10/2015 13:04

DB still flogging this dead horse I see.

[dbarr0n] 09/10/2015 10:57

crudde

What predators ? .
Geology ? . cruude it shows how much you know, the geology varies from field to field never mind say licences ...

[crudde99] 09/10/2015 10:10

Even at 3.5p "lame duck Ptr" doesn't seem to excite ANY of the other oilers that surround us and that I must admit bothers me. I mean if we are such an appetising morsel WHY are the local predators / oilers at least not sniffing the air..??? The geology of their reserves cannot be much different to ours and they seem to be doing ok..... or are they...???