Petroneft Resources Share Discussion Threads

[kevjones2] 24/6/2021 17:24

I have indeed noticed your enthusiasm, Jfreshfield! Nothing wrong with positivity when coupled with facts which is what you display.

This bb has always been different to others I've been in. There is a kind of maturity about it that I don't see on other bbs. Maybe because up until now we've had nothing to cheer about. That said, the share price did reach 7 or 8p around 2015. Glad now I didn't sell.

[chris cat] 24/6/2021 17:06

JF - Not me, I've had to much pain, averaged down on another aim oiler and in the same boat. Just decided to let my original investment ride and see how it plays out. When I started buying all those years ago it was quite a lot of money for me, but it's not worth too much now, I did the calcs recently and to get down to a decent average would cost me more than I'm prepared to spend. Being a bit wiser (I wish), I will never be buying anything off AIM again (or an individual share again), All of my fund purchases are up by double digits, all my individual share purchases are down massively (even Blue Chips). I am clearly not the Warren Buffet I thought I was when I started dabbling all those years ago.

[jfreshfield] 24/6/2021 16:30

Out of interest have any of you long termers bought more recently to average down as the risk profile has changed?

[seangwhite] 24/6/2021 15:20

Steel is I think out of these after being in for a long period. Hope to see a bid with at least two figures for all holders.

[chris cat] 24/6/2021 15:19

I remember both, From memory Steel was far more objective and critical of the board and Dbarron was completely supportive and defended everything they did, even as the share price went from 72p to 0.5p.
Not seen either on the thread for a long time,

[thetoonarmy2] 24/6/2021 15:01

Kev Jones me :as well been here several years fortunately averaged down to just over 4p nowand a smidgeon under 7 mill so if it gets to 10p I will be very happy. Think possibly Steelwatch is still here and DBarron I think either took the huff as people were always at him as if he was spokesman for old board directors in fact some said he was ex director he did seem to know stuff though who knows maybe just changed avatars. Can only recognise about 5/6 names on here when I first came but refuse to sell any till I'm in profit

[jfreshfield] 24/6/2021 09:56

Yes you may have noted my enthusiasm!

[kevjones2] 24/6/2021 09:53

I should mention that I can see why this is such an attractive investment for new investors too.

[kevjones2] 24/6/2021 09:52

I hope the old investors do get back some of their money, Jfreshfield.

I normally don't get over-excited about a share and I've been stung here a few times but this is the most promising I've seen it since the Oil India investment in 2015 I think. I believe at least a solid (as compared to a spike) 10p is achievable by around February/March next year. With a bit of luck and continued decent performance and continued good communications (a major historical issue here)I see no reason for the share price to go even higher with a bit of good luck.

[jfreshfield] 24/6/2021 09:44

Kev thanks for the insight. What has impressed me most is that the have continually hit their operationally targets on budget and comfortably on time. C4 well for me is particularly exciting as it is not declining and when they hit it they mentioned three layers - seems like the structure could be very productive. There should be multiple ways of adding P2 (Emtorskaya clearly) and production in the forward drilling plan. Once they get up to 5k BOPD and with the reserves in place I do think there is potential for many old investors to recoup some losses and more.

[kevjones2] 24/6/2021 09:33

Yeh. I think Francis's intentions were good but he just kept proving reserves when the time for production was right. 14/15p is high but with the poo rising, 90% holding in thingy, all year road etc it may be achievable with the other thing the previous bod never got - a bit of good luck. (I sound like a ramper now but those are the facts!).

[chris cat] 24/6/2021 09:14

Yip, 14/15 years for me, average of around 15p unfortunately. Been very frustrated over the years especially with previous management who spent money on a processing facility rather than getting the stuff out of the ground (not wise after the event, I moaned about it at the time) then sold half the licence and pi££ed away around $50m from memory. They appear to have not understood the licences at all. Really impressed with the new team and hope they continue on this positive path, doubt I will ever B/E but I more or less wrote it off mentally years ago, so a nice boost to see the recent progress. Just shows how much difference a decent management team can make.

[kevjones2] 24/6/2021 09:05

I have engaged with the new CEO via email. As can probably be gathered, I'm not easily impressed but this guy was very, very impressive not only in his response but the detail he went into. He seemed genuinely excited to be part of what I like to call New Petroneft. So far his actions have spoken positively.

[ga_dti] 24/6/2021 08:27

Listen to our exclusive interview with David Sturt talking through the final results for the year ended 31st December 2020:

[jfreshfield] 24/6/2021 08:25

Would love your insights into the turnaround chaps. Have I been missing much from what I am seeing as a relative newcomer? Have any of you spoken to the new CEO?

[parknas] 24/6/2021 08:10

And me,14 years and counting.

[mrmcnee] 24/6/2021 07:56

Happily still here.

[bad gateway] 24/6/2021 07:54

Think there's at least two of us jfreshfield. Convinced myself the quiet just means we're ahead of the curve.

[jfreshfield] 23/6/2021 23:35

Anyone else interested in this ffs?

[jfreshfield] 23/6/2021 15:59

Indeed!!!!! They should tell people how profitable they are!

[bad gateway] 23/6/2021 15:41

$75 is quite some change from last year. They reported $28 as their average/B for 2020.

[jfreshfield] 23/6/2021 11:42

$75 oil. Why wouldn't you be in a stock that is going to be drilling / fracking loads, is currently comfortably profitable, management v aligned.....it's just silly cheap.

[broken_arrow1] 22/6/2021 23:36

It would help greatly if the company commissioned a research note via a reputable broker, in the past it seems Davy were used.