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[dbarr0n] 12/11/2015 13:07

Spudders ..
Remember Oil India have a say on the future development schedule and they may not want to develop Sibkrayevskoye at the current oil price.

Also I think it would be extremely difficult to borrow against oil assets given the current oil price.

But Presuming Oil India were willing to develop Sibkrayevskoye it would be a good time to borrow say $15 million with low interest rates and a reduced cost of development as a result of the ruble / dollar exchange rate..
The only question is. What price is oil going to be the end of 2016 and going forward ? because I guess we would need $ 60 - 70 to repay that debt...

[spudders] 12/11/2015 09:38

Tens, I might be wrong, but whilst interest rates are low it maybe a good strategy to borrow ready to develop other fields/infrastructure in the future. I think management wouldn't make the same mistake twice with debt,would they ???

[seangwhite] 12/11/2015 07:34

CruddeWe might get Db to give us his standard repliy that the BOD cannot buy because they are in a closed period.My view is that they feel taking the salary and banking it is a wiser investment.VGLTA

[tens machine] 11/11/2015 23:49

Ptr I believe will have to raise funds IMO , Natlata may realise this . So I'll be really interested their next move as any dilution would play havoc with any strategy here

[seangwhite] 11/11/2015 21:02

Rav that could have been a substantial purchase by a BOD member.Well put it like this it was 6000 more than purchased by any director this year.VGLTA

[ravin146] 11/11/2015 18:43

You know when sentiment is not great when someone sells 6k shares lol

[steelwatch] 11/11/2015 12:40

crudde - there are a lot of things hard to believe in the world today: Middle East, South China Sea, Ukraine, oil price, etc., etc., etc. Worrying times for all.

[seangwhite] 11/11/2015 11:19

RCIf Db is a company man he must be worried that the old boys are really not doing much to help their cause.Another similarily positioned Irish E&P is PCI. It shares much in common with PTR in addition to our own Wee Tom.DF is nowhere as Big a buffoon as Big Brian but both have seen periods of shareholder value destruction.BB keeps finding dust in his drills and DF just makes excuses for continually under performing.WV at PCI are shaking up the BOD and could well succeed in moving them out the door.It will surely follow that Natlata will try to make waves here again if the BOD continue in this slumber mode of management.VGLTA

[rcturner2] 11/11/2015 09:19

db is a stooge for the company and not to be trusted

[steelwatch] 10/11/2015 22:51

Db - I think $80 is the new $130, but much of the industry will be able to live quite comfortably @ $60 due to the efficiency drive. Meanwhile:

[seangwhite] 10/11/2015 21:55

Well done RC for that call in selling at that point.Db and others were calling for a lot higher number as a target and being debt free should have made for a lot more options in making the operation more cost efficient.The total lack of a plan to adjust to the current POO is my main gripe at the old BOD.VGLTA

[ravin146] 10/11/2015 21:12

True but at that point in time, being debt free and a partner was better than an unknown 'natlata' with debt.As I say it was a lucky trade as then oil collopased. Gla elsewhere.

[rcturner2] 10/11/2015 21:06

ravin, the reason I sold was pretty straightforward. PTR sold half their assets for roughly 4.5p per share in cash. This capped the value of the company at 9p a share, all done at the oil price at the time. So given the discount that would always be applied, 7p felt like full value. Now that you factor in the fall in oil prices, there simply isn't very much value in the company. There is no point in going back to historic valuations or what if scenarios around oil prices.

[seangwhite] 10/11/2015 20:31

RavThat is a long term issue with this BOD each update gives little real info on how they are performing.Most E&Ps give OPEX numbers and outline performance numbers which are clear.Our dear old BOD do not seem to be able to be able to do similar.I do compare PTR to other companies of similar size and to be fair they are not the worst.The market for small E&Ps is tough but look at PANR to see what can be doneby a BOD which is committed.The T501 results have taken a while let's hope there is not going to be another one step forward and 3/4 steps back due to some small c*ck up again!The AGM date is out in the next few weeks and I hope the BOD are trying to setup a good event.Natlata & Co might have something to say at this time and place.VGLTA

[ravin146] 10/11/2015 18:56

rc yes that was pre oil crash too.I wonder how cost effective the horizontal drilling is with the resultant c.500bopd (last two h.wells) at current oil levels.I just hope as lucky as you were, ptr is too in the future and that the others on the other thread recover their huge losses.Gla

[ravin146] 10/11/2015 17:26

"The well (t502) was brought online on 27 August and the average flow rate over the last eleven days has been over 450 bopd." From sept rns.With eleven days testing before, we should hope for news this week on well t-501

[dbarr0n] 10/11/2015 12:54

Steel .. It could also be $ 180/Bbl lol

[rcturner2] 10/11/2015 11:21

Just looked it up. Sold on the 4th April 2014 at 6.825p. I was glad to get out as had been massively underwater at one point.