Petroneft Resources Share Discussion Threads

[broken_arrow1] 23/2/2021 22:17

Quite surprised there is so little posting on the BB given the share price has multi-bagged this year already, where are all the long term holders?

Same as ever nigh impossible to buy any meaningful lines of stock for most of the session, the only issue is the shares are, once again, approaching overbought territory, it would be nice to break into a new trading range.

Looks like a few recent new posters have left the building.

[johnswan193] 23/2/2021 19:19

Interesting movement on share price lately, hopefully some substance behind it.

[jfreshfield] 23/2/2021 18:57

Yes exactly. It's just a formality. In time they will be issued at 2p and 2.5p.

[rolo7] 23/2/2021 18:54

Shares need to be issued if loan is converted so needs permission to issue number of shares related to loans...

[jfreshfield] 23/2/2021 18:50

That's already basically rns d

[rolo7] 23/2/2021 18:35

No the new one over convertible loans, convertible debt on 13/03/21 to allot securities and dis apply preemptionnl rights in connection with the proposed raising of convertible debt

[jfreshfield] 23/2/2021 17:00

The EGM really is not important it's just required due to Brexit. I wouldn't worry about it

[rolo7] 23/2/2021 16:24

Hidden in egm results reading to do.

[johnswan193] 23/2/2021 14:09

If they do this trick again of not circulating the dial in details for investors in advance I will be reporting them.

[rolo7] 23/2/2021 13:15

Another egm 12/3/21? Wheres the statement not that voting matters

[partner] 23/2/2021 11:18

This share is very difficult to purchase again on line , no stock available for an immediate purchase . MM are reluctant to take us up , somebody suppressing the price.

[partner] 22/2/2021 09:05

The news flow will hopefully keep coming , we have a very committed group of directors. The loan is a great show of belief,the 8% is fine , when you consider the shares now are 1.6 to buy ,even allowing the 8% we can currently buy cheaper than they can .....

[jfreshfield] 22/2/2021 08:19

"Over the last 12 years, I have built a strong understanding of PetroNeft, its assets and its strategy. The company has excellent assets, strong local management and expertise and an intelligent strategy to utilize both in the interests of shareholders. Licence 61 and 67 offer an outstanding range of low risk, low capital development, appraisal and exploration opportunities. Not bad comment from the new chairman. Upwards I am honored and excited to become Chairman. I look forward to working with the rest of the board and management team to deliver the tremendous upside opportunity that is the Petroneft proposition for shareholders.

[spudders] 22/2/2021 08:05

RNS 👍🏻

[jfreshfield] 20/2/2021 08:36

So this is funded fully at 2 and 2.5p. Three big bits of news coming and curveball of new exploration targets in wider licence area that look interesting from the perspective of bringing even more oil on. Should move quickly from 1800 BOPD to 2500 BOPD and then could it double again from there? Cheap now but in six months this could be a £100m market cap company

[silverspoon2009] 19/2/2021 13:44

Petroneft just featured on Sharetalk, Zak Mir 1 month target price 2.5p to 3p

[broken_arrow1] 19/2/2021 12:55

L2 moving again, they now want 2.05p for size, that's the highest this week!

150k left at 1.61p then it goes up to 1.75p for 500k.

Something is brewing.

[mrmcnee] 19/2/2021 12:02

Have been trying to grab more but nigh impossible, can see this trading above 3p shortly, having completed a ton of research it seems the only reason the valuation is so low is because Petroneft is under the radar of most observers.

There has not been a research note since 2011 for example.

Not many oil producers on target to produce over 2000 bopd valued at only £14m is there.

BTW the last note gave a target price of £1.18p with 415m shares in issue, would have valued the company at £490m !

[broken_arrow1] 19/2/2021 11:54

L2 moving higher again - they now want 1.95p for a decent slice

50k-150k at 1.62p
150k-250k at 1.66p
250k-500k+ at 1.70p

It's moving fast.

[johnswan193] 19/2/2021 10:56

Anybody receive the dial in details for the EGM? It starts at 11am (in 5 mins).

[silverspoon2009] 19/2/2021 10:11

Nothing available online, same as yesterday afternoon. Are background orders being filled ??

[broken_arrow1] 19/2/2021 09:19

They now want 1.62p for over 500k - only 250k left at 1.5p, it's moving fast on L2

[mrmcnee] 19/2/2021 08:48

Found the recent interview with the new CEO, no wonder he just put in $300,000

New interview with David Sturt - lots of news imminent.

"Most of our oilfields are increasing production not decreasing production without any new capital being employed"

[mrmcnee] 19/2/2021 08:45

Convinced there will be news next week, everything is falling into place nicely.

Re-iterate this is materially undervalued and under radar, no wonder it is so hard to buy in the market.

[jfreshfield] 19/2/2021 08:44

Good to have some value added posts, much appreciated. This does very much feel like a perfect under the radar stock which is moving from turnaround to growth this year. Lots of near term news to come which I would hope would be all accretive to BOPD and share price. More shareholder communication would be helpful but it's been a good start to the year. Hopefully with the bringing on line of the new licence and the work overs we can quickly get to 2500 BOPD and build from there