Petroneft Resources Share Discussion Threads

[jfreshfield] 15/6/2021 12:19

It's fairly thin either side to be honest but I think chart wise and with rsi so low we are close to basing now if not already there. Should be a lot higher on fundamentals so it's just a case of mgmt getting the message out and continuing to hit their operational targets which they seem to do every time

[johnswan193] 15/6/2021 12:11

L2 shows 2 brokers on the bid at 2.6p for 100k each, one broker on the ask at 2.7p for 100k, then 3 at 2.9p for 100k each. Number of brokers at bid/ask are most indicative as opposed to quantity which for this always just shows at 100k. Difficult to get an indication of what actual amounts might be other than getting dummy quotes.

[broken_arrow1] 15/6/2021 11:42

Still getting this with Proquote who most brokers rely on, below was for only 50,000 shares.

A Fixed Price Quote is not available for this order.
By clicking 'Place order', it will be placed at best.
You may wish to click 'Amend order' and input a Limit

[broken_arrow1] 15/6/2021 11:38

Price is strengthening behind the scenes, looks like there may be a background buyer.

[jfreshfield] 15/6/2021 11:31

I think it's more likely to be someone like Rosneft who have been active in the area before

[griffin63] 15/6/2021 10:15

You don't think Zoltav could mount a cheeky bid do you?
They've sprung into life over recent days.
Just a thought.

[jfreshfield] 15/6/2021 09:59

Feels nice and stable ready for big move up

[broken_arrow1] 15/6/2021 09:48

Not so sure of the accuracy of limits currently as they move so fast.

As has been the case for quite some time most retail brokers use Proquote and PTR are still 'at best' On the other hand IG who have been somewhat unreliable recently show decent size available at full offer.

Historically market makers move PTR on activity, if 2 or 3 buys come in limits change in a flash.

Make of it what you will but there appears to be decent support around current levels.

[johnswan193] 14/6/2021 17:06

Bit of an overhang from what I can see. Any sells are reducing the bid, buys going through at full ask not changing the offer.

[jfreshfield] 14/6/2021 13:26

What's book like?

[broken_arrow1] 14/6/2021 12:35

The delayed 500k trade timed at 9.13am was a buy, not sure why the price has dropped as there appears to be pretty decent demand for the shares currently.

Hard to buy anything now, most brokers are 'at best' on small quantities of stock.

[goldenshread] 14/6/2021 07:25

No doubt the oil price trend will be assisting Petroneft.

Russian Domestic Oil at 3 year highs, Urals is up 340% year on year as a indication.

[observer007] 13/6/2021 19:26

This is a junior oil producer not to be out of, recent operational successes with takeover/buyout potential.

Materially undervalued.

[jfreshfield] 13/6/2021 11:11

So, we still undervalued today then?

[mrmcnee] 11/6/2021 22:37

Oil heading towards $100 a barrel says expert.

[jfreshfield] 11/6/2021 19:40

I think the L2 well is interesting. Now cased they can look for approval on the field. One more field opened up for explo. C4 well another field now open post that success. The two fields in 61 open for further fracking in the winter. Undeveloped fields still exist within the licences. So - 4 min fields - each with potential, each with multimillion barrel resource we can safely say. I think the team have been lining up their ducks well here to prepare for the next drilling season. It's poised for greatness here and massively cheap. Turnaround of the year.

[johnswan193] 11/6/2021 16:11

Agree a bit more work to be done but moving in the right direction. Would have been great if the L-2a well didn't return so much water as otherwise could have added to current production. POO has been kind to us and hopefully will continue to be. If a favourable end point can be achieved I fully believe David Sturt is the man to deliver it.

[whoppy] 11/6/2021 15:41

Will need to drill a few more wells to get value from the assets. The big unknown is what results can be achieved from horizontal drilling. This is where the value lies in producing oil at increased rates from horizontal wells at lower operating costs. Speed at extracting oil from the ground will be key.

[mrmcnee] 11/6/2021 15:35

Since the date of this commentary (below) they have added significant value, it is interesting that nothing has been mentioned in the recent flurry of interviews re asset sales or sale of the entire company - but if in ongoing negotiations then that's probably why.

Some quotes that are relevant to the topic...


PetroNeft, whose focus is two licences in Siberia, recently said it was looking at "all options" - including the sale of its assets

Industry veteran David Sturt - who was recently named PetroNeft's chief executive - said interest has been shown in the two Tomsk-based licences.

A near-term sale has not been ruled out, but Mr Sturt said an asset sale in less than three years is highly likely.

Asset acquisition activity in the Russian exploration market has increased in the past 12 months.

Above dated May 2019

[broken_arrow1] 11/6/2021 14:22

Proquote have shut down online buying, means many retail brokers are 'at best' only PTR right now.

For info on Proquote..



Proquote which operates a significant trading connectivity hub, known as the RSP (Retail Service Provider) network that offers retail trading in the United Kingdom. Its clients include retail stockbrokers, market makers, wealth managers, institutional buy sides, and private investors.

[observer007] 11/6/2021 14:01

Buyers returning, one day there will be a RNS 'Recommended offer for Petroneft PLC'

I wonder how far away it will be, given their previous timelines it could come sooner than many think.

It pays to buy illiquid shares like PTR when it is quiet.

[jfreshfield] 11/6/2021 13:20

Not just the RSI tells you this is cheap. It just is

[broken_arrow1] 11/6/2021 07:56

The shares are now back in the buy zone with strong support at current levels, online size dropped late yesterday to only 500,000 shares, they had 1.2m earlier in the day.

Worth noting the Relative Strength Index is at a 12 month low re-iterating the shares are cheap.

[seangwhite] 10/6/2021 22:22

Oil is going higher in the next year if PTR can keep going at raising output and proving up reserves the 10 to 12p range is easily met. Well done the BOD as this is definitely rising from the ashes.