Petroneft Resources Share Discussion Threads

[broken_arrow1] 08/6/2021 08:13

Retail brokers are shut out from buying on the Proquote system currently.

Only way in is for limit orders therefore, these can be rejected though.

[rolo7] 08/6/2021 08:12

A good update, where to next operations wise? Shame they only have a 50% stake in licence 61 which produces 2000bopd?

[fillipe] 08/6/2021 08:12

Today's RNS - brilliant!

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[broken_arrow1] 08/6/2021 08:11

Looks like they are trying to deter retail buyers by widening the spread, background buying likely, watch for late declared trades.

[mrmcnee] 08/6/2021 08:06

Very positive update today, what's not to like, strong cash flow and increasing production with further increases in reserves anticipated.

This is a £100m+ company valued at £30m !

[jfreshfield] 08/6/2021 07:59

It's got to be much lower than that given some level of stickiness in the register below TR1 - could be only 10-15pc perhaps?

[broken_arrow1] 08/6/2021 07:57

There was very little stock around before the close yesterday, you now know why, the share price hit 3.7p in March, this 'target' looks very attainable in the very near term.

I noticed a post on LSE which explains why the share price moves so quickly, only 20% of the issued capital is in free float !

Good luck trying to get in today.

[goldenshread] 08/6/2021 07:51

Very positive update, clearly they are achieving strong cash-flows more-so as local oil prices are near 2 year highs.

The plan is working well, Petroneft looks significantly undervalued, still sub £30m m/cap.



Due to a combination of strong performance from the C-4 well at Cheremshanskoye combined with the improving oil price, the Company did not need to call the advance payment for the Offtake Contract thereby saving financing charges.

[troy] 08/6/2021 07:33

Great update this morning !

Particularly pleasing is the apparent prudence of the board to actually pay for stuff from revenue, rather than borrowing, to put it simply !!

[jfreshfield] 07/6/2021 16:16

Just added another £8k. Delayed. Close to move now

[mrmcnee] 07/6/2021 16:01

I can see a decent move shortly, PTR share price has always been triggered by news-flow and news is certainly coming.

[silverspoon2009] 07/6/2021 13:34

Worth recalling a recent post from Tadtech who feels PTR are on the cusp of a significant re-rate.




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.

[broken_arrow1] 07/6/2021 13:12

Not many left now at offer, it is poised to move, the overhang has reduced from 1.2m shares to circa 250,000 with retail brokers using Proquote.

IG are all over the place currently but have moved higher on the offer.

[observer007] 07/6/2021 09:11

Can confirm there does appear to be plenty of shares on offer currently, could buy 1m online with no problem this morning.

The recent selling (albeit low volumes) does seem strange ahead of what appears to be a very significant news period coming shortly.

Watching volumes carefully.

[jfreshfield] 04/6/2021 18:54

Seller out. Up we go

[broken_arrow1] 04/6/2021 08:22

Still a bit of an overhang, presumably from traders selling the last rise, 1m shares available at 2.88p then it moves up.

With news expected this month I wonder how long those shares will sit there?

[jfreshfield] 03/6/2021 14:31

On the verge of two bits of exciting news I hope. What the C4 and L2 do is open to exploration upside to these fields. Nice reserves to go after there so hopefully there will be a exploration plan or similar that David can expand on. Comms have been pretty good this year, much more visible on direction of travel. Let's see

[petrocar] 02/6/2021 19:31

I agree with you on the L-2a re-entry of Ledovoye and it would be a particularly effective move if a positive update on C-4 at Cheremshanskoye was also included. Last report 300BPD flowing naturally since February 17th with no decline. Should be about time to put a pump down the hole. An increase in production at C-4, with its proximity to delivery point and the MET partial exemption would itself be a signicant achievement. This with a successful L-2a result would be outstanding. On second thought, two separate but positive results may even work better!

[broken_arrow1] 02/6/2021 16:25

There is a bit of a overhang here by PTR standards, 1.1m shares are available just under offer.

Traders keep an eye on volume as it can move fast.

[johnswan193] 02/6/2021 11:53

I think the outcome of the L-2a re-entry on the Ledovoye field will determine where the share price goes next. Expecting news by the end of this month and if successful they'll do a 3-month extended flow test which will increase production/sales and go along way towards proving up reserves.

[jfreshfield] 02/6/2021 11:29

Yea good luck to you. Have been v impressed with mgmt execution here and also how many shares the hold. All seems like v positive forward looking if oil behaves consistently around 60

[spudders] 02/6/2021 10:34

Having been pretty bearish of PTR for the last few years, reluctant to average down, I’m beginning to consider adding to my position. New management have turned the company around and delivered to date! The information is out there for all to make their own minds up about which direction the share price will head & no advice intended.Good luck all vlth’s and new 🍀

[parknas] 28/5/2021 16:44

I would like to thank whoever bought one share of Petroneft in Ireland, therefore increasing the share price by 8.82%.
Keep up the good work.

[jfreshfield] 27/5/2021 09:27

I think next month is going to be super interesting. Mgmt team are doing everything right, so much potential here. Could this be 5,000BOPD and 14p within a year? Why not?

[chris cat] 27/5/2021 09:00

Cheers Wil, Yip circa 14 years for me too Park, Don't think i'll ever breakeven (Need 14p) but would be good get a reasonale cash return, say 10p, Maybe too optimistic but as we know the markets can be pretty mental at times