Petroneft Resources Share Discussion Threads

[seangwhite] 25/10/2015 21:09

Well Rav your caution on next week being important to PTR is warranted.The 3p level could be breached as there are no buyers of shares including the BOD.Looks like a quiet time here as after T501 results there is nothing to change perception for a long time. Unless T501 comes in good I fear the 3p level wil be broken yet again.If Natlata want to make a move it looks like they are pushing against an open door with our old boys incapable of any action other than to continue in taking the generous salaries.VGLTA

[ravin146] 25/10/2015 20:40

Key week next week, key GDP data out and oil prices are at support levels. Any further breaks in support and short term 3p is beckoning imo...I hope bod release good well results next week!Gla...

[rcturner2] 25/10/2015 14:26

surfer, russian onshore reserves have been at this level for ages

the netbacks are minuscule in Russia, between $5 and $10 if you are lucky

so the oil in the ground is never going to be worth anything near the netbacks

[seangwhite] 25/10/2015 11:28

Wexboy sold out of these after holding for a few years.Seems he did not have the same respect for the old BOD that Db and Steel still have.He held 1% of PTR at on stage.Still hope T501 comes in good although it's been a while since the last RNS and hope it is not PD just having trouble to writing up bad news.VGLTA

[ravin146] 25/10/2015 10:37

https://www.rt.com/business/319462-opec-russia-oil-novak-crude/

[ravin146] 25/10/2015 10:35

All posters are welcome to post here long or short.

[seangwhite] 24/10/2015 21:16

The value placed by the market of PTR's assets are indeed very low and I cannot see any plan the old BOD have to alter this.The lack of share purchases by the old BOD must surely speak volumes.Let's see if they buy in the next share issue which could be at 3p or less.VGLTA

[surfer2] 24/10/2015 04:51

so PTR are valued at 50c per barrel of 2p reserves. rock bottom even for offshore reserves. 28 times cheaper than North Sea reserves which traded in recent years at 14$ per barrel - albeit at 80-100$ oil

[seangwhite] 24/10/2015 01:47

Looks like the PTR BBs have taken to using code for the great unwashed to be left outside the chosen few who are 'in the know'This could be a reason the BOD are so absent from making any meanful announcements.The other being they have nothing to say.Let's hope the RNS for T501 is in the normal format - English!VGLTA

[steelwatch] 23/10/2015 20:52

.-.. --- .-..

[dbarr0n] 23/10/2015 20:36

.-- .. .-.. .-.. / -.. --- / ... - . . .-.. .-.-.- / -.. --- -. - / - .... .. -. -.- / -- .- -. -.-- / .-- --- ..- .-.. -.. / .-. . .- -.. / - .... .- - / --- - .... . .-. / .-. ..- -... -... .. ... .... / .- -. -.-- .-- .- -.-- .-.-.- / -. . .-- ... / -. . -..- - / .-- . . -.- .-.-.-

[steelwatch] 23/10/2015 18:31

-.- . . .--. / - .... .. ... / - .... .-. . .- -.. / --- -. / - --- .--.

[dbarr0n] 23/10/2015 16:43

$35.5 million.

My post from yesterday.

Today the company is valued at $ 35.5 million.
Production = Around 1,300 bopd.
2P reserves = 75.5 million barrels.
Debt = Nill.

Year end I would be guessing that,
Production = Around 1,650 - 1700 bopd after T501 & T105 are in production.
2P reserves = 90+ million barrels after Ryder Scott reserves update on Sibkrayevskoye.

Come year end Oil India will have spent $ 80 million on licence 61, and based on the above figures they will have ,
Production 1650 - 1700 bopd.
2P reserves = 73+ million barrels.

[surfer2] 23/10/2015 15:51

1$ Barrel for P2 is for frontier offshore ultra high expensive to extract reserves with no infra structure I thought ? the opposite of PTR...

3 to 5$ barrel for P2 reserves is still cheap ?

ok 1250 bopd etc - whats the mkt cap ?

[rcturner2] 23/10/2015 13:59

surfer, you need to halve the production figure since they sold off half the license

show me a transaction in the current climate that valued P2 at $1 a barrel, no chance

[surfer2] 23/10/2015 13:36

whats the market cap? 70 million p2 , 2400 bopd and no debt
even at 1 $ a barrel of P2 should this not be valued at 70 mill mkt cap ?

[seangwhite] 23/10/2015 10:34

Db did a good summary over on Steels PTR BB which basically illustrates that PTR is trading at a discount of over 50% to just its current P2 reserves (assuming $1pb).The share price also discounts production which is reasonable as the Company is loss making.I have not seen a strategy outlined by the BOD is correct this under valuation.The present programme to drill more to pump more when it is obviously not profitable makes little sense.With no debt to service why not go back to OI and agree for a period of threading water.Another option would be to put the Company up for sale and see how it's largest holders and OI move.Let's see some blue sky thinking from the old BOD as they have had an easy and well paid ride for too long.VGLTA

[rockin robin] 22/10/2015 22:40

We can only guess what a . signifies..

[seangwhite] 22/10/2015 20:39

It would be a pity to see this sub 3p but the constant missing on output leaves a bad impression in the market.VGLTA