Petroneft Resources Share Discussion Threads

[ravin146] 09/1/2016 10:18

Sean you are pessimistic lol. Director has bought shares so change the record!

[seangwhite] 09/1/2016 02:12

Well we have Db and Steel on the BB after the first directors buy since the emergency 5p fund raising if a few years back.The fact that it was only one BOD member buying a small monetary purchase raises more questions than the good feel effect.Let's hope that the Company actually start to raise output for a change.VGLTA

[ravin146] 08/1/2016 22:13

Dbarron explain how you are in profit?The chart is the evidence you are a LIAR!Imo, dyorAs for ptr, on the other thread no one has a clue why suddenly the closed period is open and whether we should get a work over update. LOL

[dbarr0n] 08/1/2016 17:50

Surfer ...

Hardly. The field on the adjacent licence is about 50 km to the south.
But worth looking at page 21 to 31 below..

[surfer2] 08/1/2016 17:15

maybe the Sib field will turn out to be an extension of the giant field on the adjacent license ...

[dbarr0n] 08/1/2016 16:04

Kev

14/12/15
Sibkrayevskoye Status

LLC “Sibneftegeofizika” have completed their seismic and well data processing and interpretation studies at the Sibkrayevskoye oil field and have prepared the “Resource Passport” for the field. This comprehensive document will serve as the basis for the Russian State (GKZ) Reserve Registration as well as the Company’s 2P reserves. Their estimation for C3 Resources Original Oil-in-Place (OOIP) is 361.84 million bbls.

The next step in field development will be to convert the C3 Resources into C1+C2 Reserves and have them approved and registered by GKZ. The Company’s 2P reserves will also be recalculated at the end of the year. The current gross 2P reserves at Sibkrayevskoye are 53 million bbls and, even allowing for the different methodologies used in the calculation of reserves, suggests a very positive upgrade to the reserve level at Sibkrayevskoye.

[steelwatch] 08/1/2016 14:31

14/12/15

T-501

The well is currently cleaning up following this second workover and will take a few weeks to reach a stabilized rate.

T-505

The well is currently being worked over to clean the horizontal section and flush the well bore, with stabilized production anticipated in January 2016.

Arbuzovskoye

Workover programme to increase production is planned for January 2016.

[kevjones2] 08/1/2016 14:29

Hehe....I edited it and then saw your post!

[rich2006] 08/1/2016 14:24

Got your crystal ball out kev
14/12/2016

[kevjones2] 08/1/2016 14:23

Sib stuff from 14/12/2015 RNS: "Oil in Place estimates upgraded based on new seismic data; 2P reserves expected to increase significantly."

I would have thought that an expectation was just that - an expectation. I also thought the workovers on the two Ts were supposed (or expected) to result in higher bopd, and that that definitely was price sensitive. I was thinking there'd be no RNS for a good while because of the above. Happy to be wrong though.

[granto2] 08/1/2016 10:47

they already said the expected a huge increase in reserves in Sib, so the market rules don't apply.

[kevjones2] 08/1/2016 10:11

I get it, Steel. I would have thought the supposedly huge increase in Sib reserves would be quite price sensitive. I guess not.

[steelwatch] 08/1/2016 10:05

Kev - No idea how far they are with workovers and acidisation, but guessing the year end reserves report may be out next month. My point about wing mirrors is the Nomad must have cleared the purchases with nothing (too) price sensitive not already in the public domain.

[kevjones2] 08/1/2016 09:38

Steel, it's not DF I'm concerned about, it's the expected update on the unfinished business from the last RNS: "...and expect to see production begin to improve shortly."

Not definitive nor was there a specific time-frame mentioned other than 'shortly'. Still, I believe you mentioned something last month about waiting for the workovers. My understanding was that an update would be due this month. Also, didn't another RNS state that updated Sib figures would be issued at the end of 2015? Maybe the bod is holding off news until the PoO shows some (any) sign of improving.

I suppose my point is this: it is unlikely we'll get the Tungolskoye workover and Sib updates in the near future because if these figures are known they would be issued and the bod would not be allowed to be buying shares. I hope I've got it wrong.

[granto2] 08/1/2016 09:38

good to see denis buying in, even better if the finance director followed. strange time of year to buy. here's hoping he knows a thing or two coming down the tracks.

[steelwatch] 08/1/2016 00:30

Kev - I imagine DF would have checked his wing mirrors carefully before taking the plunge:

[rockin robin] 07/1/2016 18:09

Peeps conned again today. 500k tidy up.

[kevjones2] 07/1/2016 08:42

14th December 2015 RNS:

"Current gross production at Licence 61 is about 2,500 bopd. While an over 40% production uplift in 2015 to date, it is below our expectations because of the delays in bringing the Tungolskoye T-501 and T-505 wells into production and the greater than expected declines from the Arbuzovskoye wells drilled earlier this year. We are implementing workover programmes designed to address these issues and expect to see production begin to improve shortly."

I'm a wee bit puzzled. A couple of posters have referred to an expected update from the last RNS. If an update is expected how can directors be allowed to buy shares?

[seangwhite] 07/1/2016 07:35

It must be welcomed the news of FG adding more shares.The current E&P sector is in tatters and this buy although not large is a reminder that PTR unlike a lot of its peers has no debt issues.The deal with OI was a saviour for the company.The announcement on Sib's reserves when it comes will sadly not mean much in the current Oil industry state.I wonder if We Tom will unzip his pockets as his horizon is surely a long one.VGLTA

[ravin146] 07/1/2016 07:22

And the director dealings continue. Very positive indeed. He must believe the share price will recover and the workovers will work and the reserve updrade is great.Imo. Gla one day dbarron will be in even more profit!

[steelwatch] 07/1/2016 07:08

Well done Dennis

[seangwhite] 06/1/2016 20:45

Anyone who bought in a the last 5p placing and selling today at 2.25p would have lost 55% of their investment.Db being in profit at current levels will not suffer this of course.VGLTA

[ravin146] 06/1/2016 16:53

800k sell?Dbarron is this you cashing in with your profit lol

[steelwatch] 06/1/2016 12:28

Oil, Gas Expectations for 2016 Up In Air



Let's hope it comes down HEADS!!