Petroneft Resources Share Discussion Threads

[jfreshfield] 17/6/2021 11:31

Not much stock left now.

[jfreshfield] 17/6/2021 09:03

There's some there now. Go mop it up!

[goldenshread] 17/6/2021 08:19

Am trying for a few more but as BA suggests there is nothing on offer, I suspect the re-rate will continue, next to the worlds 6th largest oilfield is not a bad postal address is it !

[broken_arrow1] 17/6/2021 08:12

Nothing available online with most brokers, IG are showing 50,000 shares at 3p and then it moves up.

[jfreshfield] 17/6/2021 08:11

It's really interesting on licence 67 on the C4 well in the last interview that David Sturt talks about two other layers outside of the Jurassic that were encountered. Given the well continues to flow well and better it seems, increasing production, there is probably a good chance of a horizontal being done I would say that can test out the wider reservoirs and depth of field. Just one area of Licence 67 but it's 46km2 with multi million barrel oil potential. Could we get 2-000 BOPD from this alone? Then when you add up the optionality on licences we know of and then potential from licences we haven't even really touched yet, you can see why there is a processing facility with 14,000 BOPD potential sitting there. Amazed how previous management screwed this up so badly, but there lies the turnaround story

[mrmcnee] 17/6/2021 08:02

Licence 67 is the game changer here, they now own 90%, sitting next to the 6th largest oil field in the world.

Aspirations of value seem too low on this bulletin board, I believe 10p+ a share is a very attainable target price, that only values PTR circa £100m

I cannot see this BOD going for less should a company sale be completed.

[johnswan193] 16/6/2021 23:24

Very well put and agree completely. Current plan is to hold until the end point, targeting that to happen in 6-24 months and hoping for it to be double digits.

[jfreshfield] 16/6/2021 22:46

Got to ride this one. Oil price is going higher, mgmt team hitting operations out the park. Long waits should not be wasted quickly!

[wessie] 16/6/2021 20:52

I'm like many here, held since 2010, bought at £0.51, made a further 15 purchases chasing it down. Fortunately bought a decent batch at £.0058 and now sit with an average of £0.0442. Feeling more optimistic, have to be as it is one of my largest holdings!
The problem will come when it rises above my average, do I sell or hang on for more? If/when it hits £0.05 could be very tempted to sell.

[broken_arrow1] 16/6/2021 20:45

1.9m worth of buys verses only 75k of sells today and the price was rising towards the close.

Bodes well for tomorrow, overhang totally cleared.

[broken_arrow1] 16/6/2021 15:48

Nothing available online anywhere now, not even with IG, they are asking 3p for just 100,000 shares.

Price action has changed significantly since yesterday, from a technical perspective the RSI is sitting at a neutral 50 meaning there is a fair bit of upside ahead to overbought.

The revelation they are sitting next to Russia's No1 oilfield seems to suggest the market has priced the stock wrongly.

[m1sterx] 16/6/2021 15:29

You can always tell when a value event is forthcoming when the directors fill their boots, in this case to the tune of 28.64%.

[rolo7] 16/6/2021 13:58

oil going to $100 says daily mail

[broken_arrow1] 16/6/2021 13:52

Nothing available online now, premium being asked for just 100,000, tells you all you need to know.

They want 3.15p for larger quantities.

[observer007] 16/6/2021 13:29

Great find Goldenshread, makes you wonder why PTR management have not mentioned they are next to the 6th largest oilfield in the world.



No wonder they upped their stake in Licence 67 to 90% recently.

How they heck can PTR only be valued at £30m?

[rolo7] 16/6/2021 12:58

Much more shares issued now so share price won't get any where near old levels, I hope I take 5-10p for mine.

[mrmcnee] 16/6/2021 12:52

I was unaware that a Petroneft licence was right next door to one of the largest oil fields in Russia and the 6th largest in the world !!!

No wonder the CEO is very upbeat on prospects of that Licence (67) Petroneft once had a market value of over £200m - now under £30m ??

[jfreshfield] 16/6/2021 09:24

I keep adding at this market cap. It's just way too cheap and at some point the market will work it out

[bad gateway] 16/6/2021 07:54

On watch this morning! These came down and rested atop their gap. See if that's support. Would have thought so given the positive newsflow this yr and oil rising.

[jfreshfield] 15/6/2021 18:18

Thanks for this presentation. Is amazing to see the size of 61 and the potential upside here.

[jfreshfield] 15/6/2021 13:25

I'm still kinda amazed at the huge potential 61 has, and yet untouched really. But if I were management I would be putting more cashflow into 67 given we own 90pc of that.

[jfreshfield] 15/6/2021 13:20

Reckon sold as one company. Wonder what Oil India want to do - surely not priority for them...

[griffin63] 15/6/2021 13:17

Could they have two companies interested in buying one licence each?

[goldenshread] 15/6/2021 13:01

In my view Rosneft would be buyers of Licence 67 if not the whole company, they operate the Samotlor Oil Field which is one of the largest in Russia, this oilfield adjoins PTR's Licence 67 as can be seen in on page 5 and 6 in the link below.




In the recent CEO podcast this field was mentioned (but not the operator) it seems Petroneft management are a little shy about mentioning names of majors nearby, draw your own conclusions as to why !

I have continued to add to my already substantial position.

[broken_arrow1] 15/6/2021 12:20

Anyone wanting in who are afraid of the 'at best' tag simply need to place a limit order.

My bet is the market makers are cautious simply because the free float is so low, someone posted that it is likely the true free float is probably around 10% of the issued capital.

A market maker is expected to honour the offer price so long as it is 'market size' in the case of PTR this is 100,000 shares, so theoretically it should be possible to buy that number at 2.70p currently.

What is clear is PTR shares are hard to acquire, if anyone sells the stock seems to get snapped up which is a bullish indication.