Petroneft Resources Share Discussion Threads

[parknas] 27/5/2021 08:16

14 years and counting.

[seangwhite] 26/5/2021 20:37

Been in this for a while and I hope this time we do not get another bit of bad news as happened so often in the past. The new CEO seems to be doing a good job. GLTA

[wiloughby2] 26/5/2021 17:18

Most mornings I check in with expectation of an RNS. It has been a very long journey - well over ten years ! I see Kev Jones , Chris cat , Tadtec amongst others still hovering. DbarrOn not been seen since 2018. I still believe we may salvage a few quid here - the next month will test the patience of a saint but hopefully it will be worth the wait. Work overs ongoing.Keep the faith team. Atb Wil

[kevjones2] 21/5/2021 08:53

The PTR share price is holding on very well in a week of many companies seeing share price drops.

EDIT: Just noticed the PTR share price is in fact rising!

[imjustdandy] 18/5/2021 10:54

News very soon and I suspect it's gonna be exceptional

[telegraph1] 18/5/2021 10:14

Invested here a long time much more confident in the strategy of new management now I believe we will now get our return just wondering what rct and dbarron think of it now
Best of luck to all long term holders it’s been a bumpy ride keep the faith

[imjustdandy] 18/5/2021 08:22

Yes freshfield get a grip FFS. No stock available to buy here today. Short squeeze

[mrmcnee] 17/5/2021 15:08

Jfreshfield

Tadtech's post is above No 32816.

It's worth a read, makes a lot of sense, market is quiet currently but it does not take much to move PTR disproportionally.

I believe the shares could hit 7p-8p, even then just a fraction of the former market cap of £250m, at 8p they would only be valued around £90m.

[jfreshfield] 17/5/2021 11:17

What is the tadtech post?

[chris cat] 17/5/2021 10:17

Sincerely hope so, I've been here since 2007 and unfortunately wasn't as smart as Tadtech so have held the whole time. When I think of what I could have done with the cash if I'd have sold out at 72p, still only got myself to blame. Really impressed with the new management but every time I think how impressed I am with them, I feel enraged about the previous mob who could have done most of this stuff years ago but chose to Pi££ our money up the wall building processing plants before they realised they couldn't get the stuff out of the ground.

[silverspoon2009] 17/5/2021 09:51

The post from Tadtech is very encouraging, seems to have been invested in Petroneft a VERY long time - off and on - according to the search facility on this site.

If this poster feels the shares are on the cusp of a significant re-rate it's time to take note IMO.

Seems to suggest folk are underestimating the prospective upside here if things go according to plan.

[broken_arrow1] 17/5/2021 08:42

No online buy side quote available with most retail brokers, IG still have 250,000 at full offer then it goes higher, for larger size there is a significant premium.

Anyone who wants in best place a limit order at full offer.

[broken_arrow1] 17/5/2021 07:58

At the close on Friday they only had 250,000 shares available at full offer, the size limits on the buy side have reduced significantly over the last couple of weeks.

The above implies another decent up move is imminent.

[mrmcnee] 16/5/2021 22:06

Will be adding tomorrow, expecting strong share price growth over the next month or so.

[tadtech] 16/5/2021 17:53

Russian Domestic Oil price hitting 12 month highs once again, this is very beneficial for Petroneft.

As a result of high oil prices Rosneft returned to profit recently.



As others have pointed out I believe the next update will be very material for Petroneft shareholders, the remedial work on well L2-a is ongoing with results expected by end June. The well in question has the ability to seriously change PTR production profile, putting them closer to the 3000 bopd attained in 2012.

It is worth noting that the last time Petroneft produced 3000 bopd they were valued at £224m, appreciate things have changed but it gives an idea of future prospective upside.

It is obvious the current market valuation of £34m is totally out of kilter to forward production plans, reserves, possible corporate activity and the rising domestic oil price. The new management team are not messing around either.

I have not been so excited about PTR as a investment proposition since I was buying at 9p in 2009, sold at 55p 18 months later, I see a similar percentage move in due course.

Took some more stock on Friday.

[seangwhite] 15/5/2021 09:33

It does not take much in the way of volume to move the share price The shares are tightly held so any reasonably large purchaseoves it up quickly

[goldenshread] 14/5/2021 15:56

Interesting volume kick this afternoon, is news coming next week one wonders?

Worth noting the company has a "for sale" sign over it, for the right price of course, nothing short of £100m IMO.

Now valued at only £31m

[broken_arrow1] 14/5/2021 15:32

Only 250,000 shares available at full offer then it moves up again, the book is very positive currently, looks like the Zak Mir target of 4.3p by month end is on.

[observer007] 14/5/2021 14:34

The result from the workover of the former MOL well - that delivered flows of 1000 bopd - is eagerly awaited, the new team at Petroneft have performed impeccably from a operations point of view.

If this well performs then PTR would be producing about 2500 bopd, makes the current value of £30m farcical. If they announce success with a decent production level the shares could easily double from current levels.

No wonder buyers are starting to appear !!!

[broken_arrow1] 14/5/2021 14:22

Book has turned positive, buy size limits have been reduced, only 250,000 shares at full offer now.

RSI is a neutral 55, so plenty of room for upside ahead, good entry point for traders.

[broken_arrow1] 14/5/2021 09:51

Not a particularly large amount of stock on the book currently before it moves up.

I notice they expect results from their operational work before end of June so I suspect buyers will start entering shortly in anticipation.

Always better to buy illiquid shares like PTR before larger volume kicks in.

[silverspoon2009] 14/5/2021 08:42

Goldenshread

The well you refer to is not a exploration well, this well (named L2a) was initially drilled by MOL and flowed at 1000 bopd - MOL never had a chance to case the well so flow was hindered and they moved on.

Petroneft aim to run a liner into the well to protect it's integrity and then re-test

If all goes according to plan this well alone could increase current production in a range of 40% to 70% .

It is obvious what management are doing, targeting low cost operations for maximum impact, folks selling the shares are balmy, on operational success the share price could surge ahead with 5p+ possible

[seangwhite] 13/5/2021 21:07

Hope your hunch is right. Any good news should see 4p in a short time frame. Looks favourable for a take out layer on when reserves are properly verified.

[mrmcnee] 13/5/2021 10:06

The shares have consolidated nicely around the 3p level, I expect the re-rate to continue and am happy to wait.

The new BOD seem determined and confident they can deliver significant value way beyond the current market cap of £30m, the time to buy is when it is quiet.

The next news (drilling result from Licence 67, 90% owned) is imminent, Tomsk is oil rich so am expecting a strong RNS, previous in location pay levels have ranged for 10m to 80m and flows around 500-800 bopd, this one well could materially alter the market valuation of Petroneft.