Petroneft Resources Share Discussion Threads

[ravin146] 14/11/2015 09:34

Sean let's be fair here. Oil price is falling too.

[seangwhite] 13/11/2015 21:05

CruddeYou know the BB which has on it Db as the voice of the old BOD.The investment by OI in PTR was a gamble which currently has not paid off to date.I am perplexed by the way the large shareholders and OI seem to have been happy to leave the old BOD slumber on.VGLTA

[crudde99] 13/11/2015 17:15

What other thread are you all on about...??? We all believed that when Oil India got on board that they would awaken our sleepy BOD from their slumber, but alas some things NEVER EVER change...!!!

[hoper2] 13/11/2015 11:08

I have no idea whether ravin 146 is shorting PTR or not and frankly couldn't care less, but he's called it right which is far more than most of the dreamers on the other thread. I bought in at a little over 4p and struggled to see much downside at the time, but now I'm not to sure. I'll wait for the T501 update and then - unless they are spectacular - I think I'll sell. Watching my money slowly disappear is not my idea of fun.

[rockin robin] 13/11/2015 10:50

SW, you ignore the term 'people' in my post.

[steelwatch] 13/11/2015 09:52

RR - you ignore the ??? in my post above. The BoD may, or may not, decide on my suggestion, but they have indicated the possibility. Who knows where the PoO will be in 3 months time?

"Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented:

"We are very pleased with the L-10 well result, which again clearly demonstrates the potential for materially enhanced flow rates from horizontal production wells. This well also demonstrates that with proper planning, we can drill similar wells in a cost effective manner with a standard Russian exploration drilling rig. This significantly increases our inventory of ready to drill wells in today's low oil price market.

Kondrashevskoye is right next to the Tungolskoye tieback, so could easily be a low cost development to help offset depletion and decline elsewhere. Maybe you just don't want that to happen?

[seangwhite] 13/11/2015 09:33

One could say that it is always darkest before the dawn but the way PTR are going I feel we are still in the middle of the night.It is rather a worry that T501 results are taking such a time.When they are released we should have an idea of what the output for year end will look like.We all know the POO is looking like staying low for a while longer but the lack of clarity on dealing with this from PTR does not help IR or how its view in the City.The BOD are paid well to manage the business and their lack of investment speaks volumes.VGLTA

[rockin robin] 13/11/2015 08:17

People getting slightly carried away here. Why on earth would the BOD develop new fields now, when the asset's value is so incredible low in the mkt?

[ravin146] 13/11/2015 07:38

Ning you can assume what you want. We all know who you are, cough, DB!Go play along on the other thread. Your true colours are being shown now.I hope you recover your losses.Filtered.

[seangwhite] 13/11/2015 07:32

ningThe PTR BOD have been a disaster for shareholders as demonstrated by the decline in share price and is a fact.The silence of late and the lack of any actions to try to stem oncoming losses is further cause for concern.The company has made numerous mistakes and it is about time a new crew took over.Pointing out the obvious is not shorting just airing disappointment with an tired and sadly second rate BOD.VGLTA

[crudde99] 13/11/2015 00:27

No wonder there is little interest in PTR if potential new investors fear been diluted once again...!! Knowing our gang they will wait 'till 1p before issuing new shares...LoL

[tens machine] 13/11/2015 00:08

I fear they will go down the placing route , rather than debt. Once bitten and all that...Uen making $10 a barrel after costs , expecting something similar here hence they will need funds to continue further E&P.A further question would be do we all think oil India will carry on with further investment into the block . If it was me I'd wait until POO increases.

[ningalooreef] 12/11/2015 23:12

Glad you cleared that up Ravin - you obviously are shorting this share which explains you endless, negative droning about the BoD being old, overpaid, incompetent and how they won't buy any more PTR shares.I think we've all got it now but to be safe maybe you should restate these opinions over and over and over every day until you finally close your position.

[ravin146] 12/11/2015 21:28

Ning I don't need to disclose my position to anyone. You can long, short hedge etc. it's the market and it an investors decision.Bad mouthing the company and asking questions is different.As for being stupid. Just look at your current net profit for this stock.Ps doesn't take a genius to work out who you are on the other thread look at your profile hidtory. Nice try.# .

[ningalooreef] 12/11/2015 20:09

Ravin, you mustn't be the sharpest knife in the drawer! You correctly predicted that the share price was heading to 3p and didn't sell up? Why not? I don't know about anyone else but when I come to the conclusion that the share price of a company I have invested in is going to go down I sell up. Unless of course you are just bad mouthing PTR day in day out because you're short?So which is it - short or stupid?

[steelwatch] 12/11/2015 17:46

....Just maybe overlooked:

[steelwatch] 12/11/2015 16:46

No debt at present fortunately. Let's wait and see whether, or not, the jv elects to proceed with Sib in the coming year, or defer. In the latter case it is understood Arb South to be paid for from revenue. 2 wells, maybe 3 and may be possible to use an exploration rig to drill a horizontal producer on Kondrashevskoye next year too????

"The Kondrashevskoye oil field (formerly Korchegskaya prospect) is located in the north central part of License 61 between the Lineynoye and Tungolskoye oil fields. This structure was delineated and prepared for drilling by seismic data in 1990-91. Additional seismic data was obtained by PetroNeft in 2005/2006 and 2006/2007. The Korchegskaya No. 1 discovery well was drilled in 2008. The well tested an inflow of 125 bopd from Upper Jurassic J1 sandstones (2,469.35 to 2,473.35 m TVD SS). Core and petrophysical analysis indicates 3.25 m of net pay in this interval. The entire J1 sandstone was oil saturated in the well and further drilling was required to define the oil water contact for the field. The oil is high quality with a density of 0.790 g/cm3 (47⁰ API gravity). Following the Korchegskaya No. 1 discovery the structure was renamed the Kondrashevskoye oil field in honour of a pioneering West Siberian Geologist/Geophysicist, Vladimir Kondrashov.

In 2011 PetroNeft drilled the Krondrashevskaya No. 2 delineation well (vertical and sidetrack) on the northern lobe of the structure with the intent of further defining the oil water contact. The Kondrashevskoye No. 2 sidetrack was drilled down dip from the Kondrashevskoye No. 2 well and penetrated the oil water contact in the objective J1-1 sandstone interval at -2,465 m true vertical depth (“TVD”). The reservoir interval of 3 metres in the sidetrack section was slightly thicker than in the vertical well with the top metre of the reservoir was oil bearing. Production casing has been run and cemented in the sidetrack well so it can be used as an injector or water source well when the field is developed.

Based on the well results, Ryder Scott recalculated the SPE 2P reserves for the field at 4.98 million barrels. The exact timing of development of Kondrashevskoye will depend upon how the economics of this field development compares with other nearby fields, most notably Arbuzovskoye and Sibkrayevskoye."

[happyman7] 12/11/2015 16:42

oh really, you are so wise RCTurner2, (sarcasm) anyone one would think you were a financial guru lol

[rcturner2] 12/11/2015 15:59

Indeed, check out what GKP are paying on their debt. Afren got sunk by debt and it wouldn't surprise me if GKP don't go bust too.

[rich2006] 12/11/2015 13:17

Low interest rates.? Lol
Oil companies do not get low interest rates in this current climate.
Borrowing nearly broke PTR last time and IMO will not end good if they do it again until
We have multiple fields in production that has stable production.
Look at what happened to LGO