Petroneft Resources Share Discussion Threads

[jfreshfield] 22/6/2021 22:23

Doing some better sums. Around 1800BOPD from 61, 489 from 67. So we are are net 1389 say. Margin Around $25 - works out $1m run rate. We have the reserves so now it's just a case of adding BPD. Simple frak program / Cherem field extension priorities

[jfreshfield] 22/6/2021 18:39

Buried in the report... As previously announced the Company has engaged a financial advisor with the aim to test the market for both of its licences. This process is ongoing and the level of interest and the calibre of companies in the process to date is encouraging. Over the past 2 years the asset acquisition market in Russia has seen increased activity, especially for the larger domestic companies, albeit that activity has diminished due to the onset of the Covid 19 pandemic. In the event of a possible sale, it is expected that both loan facilities would be repaid from the proceeds of sale of one of the Licences.

[jfreshfield] 22/6/2021 14:23

Not a bad quote to be fair. Not quite sure why people are selling here given we are run rating a $1m a month profit but hey - each to their own......David Sturt - "In 2019 we laid the crucial foundations for the survival and future growth of the company which enabled us to meet the enormous challenges caused by the 2020 combination of the Covid pandemic and the precipitous fall in the price of oil.Following continued operational improvements, the latent potential that are the oil fields in both licenses 61 and 67 are now starting to see the true extent of the opportunity available to PetroNeft. By continuing to improve our understanding of the company's assets we are continually identifying low risk growth opportunities whilst also maintaining our focus on operational efficiencies. The Company is ideally placed to extract the significant value proposition that PetroNeft Resources represents.Moving into 2021, there is renewed global optimism in our sector. Due to the steps taken in 2019 and 2020 combined with the dedication of our staff and support of our stakeholders we are well placed to continue to develop the company and the true value of the assets."

[chris cat] 22/6/2021 10:32

Quite galling to see we paid DF $200k albeit in shares. what was him and his team doing, for the past 10 years when you see the impact the current management team are having. All that money that they got from Oil India seemed to just disappear.

[jfreshfield] 22/6/2021 10:18

Worth looking at the reserves table in the report. Emtorskaya at P3 but is a huge potential asset that for some reason previous mgmt didn't touch. The appraisal well that David talks about in the March presentation could add so much value to the company should P2 be inferred from the results. The old soviet well flowed oil - did they can reenter cheaply and add significant P2 off the back of it that will be such a valuable result.

[spudders] 22/6/2021 09:42

1u, Peeps do strange trades these days! Oilers appear bullish. PTR are in a much better position than a few years back. Different market these days, longterm for most is 3 months. Buy & Hold hasn’t worked for me here so far, but that’s AIM !

[jfreshfield] 22/6/2021 09:17

Yes but they have only half of licence 61 so factor that in. Is give or take 1500

[1utah] 22/6/2021 09:11

spudders surely nobody would buy an oil companies shares after last year expecting results to be fantastic. Now is the time to be buying into oil companies with talk of $100 a barrel and PTR sitting with 82mmbbls. Some other oilers do not have any 2p resource and valued much higher it will not be long and this will be trading at 10p.

[connello] 22/6/2021 09:11

2021 update is showing Gross Production of 2289 bopd

[jfreshfield] 22/6/2021 09:08

Oh I know but this will bounce again. The website actually sets out the highlights nicely. Check my maths here please. Oil price at $70 - MIneral Extraction Tax 50pc ish - $35 - operating costs $12 plus a little for small field reduction = $25 a barrel profit. Roughly 1500 BOPD - makes around $1m a month profit currently.

[spudders] 22/6/2021 09:03

JF, I agree, but there are peeps that buy ahead of results to make a few %. 15 years here, so pretty much seen it all before.

[jfreshfield] 22/6/2021 08:59

But this ain't really news is it. It's historical financials which bear no relevance to current potential given the turnaround.

[spudders] 22/6/2021 08:52

Looks like a standard case of ‘ Buy on speculation, sell on realisation’ hot money moving on!

[jfreshfield] 22/6/2021 08:51

They have 82m 2P!!!

[tom111] 22/6/2021 08:47

Things have moved on since the finals and don't reflect the co going forward imo

[johnswan193] 22/6/2021 07:47

I got email notification of finals.

[griffin63] 22/6/2021 07:43

They are on the PTR company site.

[bad gateway] 22/6/2021 07:41

Perhaps he meant to post on the matd board? They have finals today.

[partner] 22/6/2021 07:22

Shudders can you provide link please no news showing my end .

[spudders] 22/6/2021 07:19

Finals RNS out !!

[spudtheplumber] 21/6/2021 20:18

Great posting Jfresshfield!Top notch research

[tom111] 21/6/2021 17:50

Looking at the chart this could be the next leg up imo

[tom111] 21/6/2021 17:17

Bought in today looks cheap imo added to my other oil shares ZPHR and ADV no advise given