Petroneft Resources Share Discussion Threads

[jfreshfield] 05/8/2021 12:06

News next week on reserves I would hope

[jfreshfield] 04/8/2021 18:09

Yep. Perfect share this. Tightly held great chart and company improving bit by bit

[1realist] 04/8/2021 08:45

Very few shares in free float and very few sellers around.Wouldn't take much more buying pressure for this to see a decent rise.Next news could be a major catalyst for that.

[tom111] 04/8/2021 08:20

Looks as if we are going to move up by the looks of it

[kevjones2] 03/8/2021 22:32

According to the last RNS we'll be getting an update before the end of the third quarter. Can't remember if that was specific to one aspect or a general update.Worst case is news at the end of September but hopefully much sooner.

[seangwhite] 03/8/2021 17:44

Expect the update might get rolled up with the recently announced reserves report due by end Q3.

[jfreshfield] 03/8/2021 17:32

Feels like this is the range until we get news and then it moves v quickly on that

[griffin63] 30/7/2021 11:01

Operational update due.

[1realist] 29/7/2021 21:01

I looked into rough calculations for the effect of increased production, improved efficiency and higher oil prices on licence 61 income:2020 (known)Production: 1562 bopd Ave $/barrel: $28Revenue: $16.7mCost of sales: $17.45mGross loss: $745kNet loss: $11.4m2021 (projected)Production: 2289 bopd (currently)Estimated ave $/barrel: $68 (current price $76)Revenue: $56.8mCost of sales: $25.5mGross profit: $31.3mNet profit: $22m (£16m)So just based on the increase in production and efficiency that was stated in recent results, coupled with the rise in the price of oil, it looks like license 61 income will swing from a small loss to a very big profit this year. 50% of that profit comes straight to PTR. If my calcs are right, then that would see PTR receive £8m net profit from license 61 in 2021. Just based on that, with a P/E ratio of 20, market cap would be £160m. And that's not including any value for the 90% ownership of license 67.I think the 10p / £110m market cap target could prove to be very conservative once next results are out. No wonder the BOD and major shareholders won't accept an offer anywhere near current levels.

[1realist] 29/7/2021 20:23

I looked into rough calculations for the effect of increased production, improved efficiency and higher oil prices on licence 61 income:2020 (known)Production: 1562 bopd Ave $/barrel: $28Revenue: $16.7mCost of sales: $17.45mGross loss: $745kNet loss: $11.4m2021 (projected)Production: 2289 bopd (currently)Estimated ave $/barrel: $68 (current price $76)Revenue: $56.8mCost of sales: $25.5mGross profit: $31.3mNet profit: $22m (£16m)So just based on the increase in production and efficiency that was stated in recent results, coupled with the rise in the price of oil, it looks like license 61 income will swing from a small loss to a very big profit this year. 50% of that profit comes straight to PTR. If my calcs are right, then that would see PTR receive £8m net profit from license 61 in 2021. Just based on that, with a P/E ratio of 20, market cap would be £160m. And that's not including any value for the 90% ownership of license 67.I think the 10p / £110m market cap target could prove to be very conservative once next results are out. No wonder the BOD and major shareholders won't accept an offer anywhere near current levels.

[flughafen17] 29/7/2021 12:47

Still pretty tough to buy in any meaningful size, the shares have bounced off a key moving average and have a great deal of upside potential - I see Zak Mir the chartist has 5.5p as a target price.

A good entry price IMO.

[parknas] 29/7/2021 10:26

I would say there is a lot of stock held by people on this board with no intention of selling until the price is a lot higher.

[broken_arrow1] 29/7/2021 09:27

Still very little stock around.

[mrmcnee] 29/7/2021 09:13

1Realist

It has always been hard to get a decent line of stock in Petroneft, if I recall 70% of the company is held in tight hands, namely management and associated parties. One reason the value is low IMO.

They are looking to exit at the right price, the major shareholder, in my opinion, would not settle for less than 10p a share (equates to £110m valuation) Petroneft in the old days had a £250m market value but the old Board were poor and failed to deliver.

The new team have transformed the company and have converted loans into shares recently, to me this suggests a sale is close. Rosneft or Gazprom are the likely buyers.

Now is not a time to be selling especially as the oil price is moving higher, recently Russian Domestic oil prices have hit 3 year highs.

PTR could easily be valued at £100m now and be considered cheap, that 10p a share is not a fantasy price either.

[broken_arrow1] 29/7/2021 08:54

Large move up coming, online limits have increased significantly, they now want 3.55p for very modest size, remember this hit 4.7p on 6th July.

[space_dust] 29/7/2021 08:48

Zak Mir covered Petroneft yesterday, has a short term 5.5p target price.

[1realist] 29/7/2021 08:48

It does look very undervalued at the current £36m market cap, especially with the strength in the price of oil at the moment.Hard to understand why it is still down at these levels really.

[flughafen17] 29/7/2021 08:39

Bought in yesterday, the recent CEO interviews are impressive, continually talking about shareholder value creation, growth, production increases, exciting times and the fact they would be prepared to sell the company.

The current £36m m/cap is hard to fathom, will re-rate for sure.

[kevjones2] 29/7/2021 08:39

And AQSE buys don't show up on the LSE website. LSE mustn't want to pay for the info.

[broken_arrow1] 29/7/2021 08:20

The buys late on AQSE took most of the loose stock, it looks like moving up again.

Nothing available with many retail brokers this morning who use Proquote, IG seem to have 250,000 on offer but they are not always reliable early doors.

A premium being asked for 250,000+

[mrmcnee] 29/7/2021 08:02

Increasing volume is always a sign news is on it's way with PTR, not a time to be out, the share price nearly hit 5p recently, it can only be a matter of short time before it has another go.

[parknas] 29/7/2021 07:49

All quite on the eastern front.

[m1sterx] 29/7/2021 06:41

Are folks aware PTR is also traded on the AQSE (formally Nex) for those interested there was some late buyers of Petroneft yesterday.

[kevjones2] 28/7/2021 16:30

Good to see my posts are read. LoL.

[parknas] 28/7/2021 16:11

Dublin back to 0.445 ask.