Petroneft Resources Share Discussion Threads

[tom111] 08/11/2021 16:50

Thks for reply spdders.I don't see COP 26 has any bearing non event imo just look at one of my investments today TXP theres your answer regardS COP 26 IMO

[seangwhite] 08/11/2021 14:19

Might be better for the resources update to be published a few weeks after the COP 26 circus has left the stage. The seemingly unstoppable portrayal of the oil industry as criminals ignores reality but that's life. I hope the wait proves worthwhile but do not expect it to have any bad news.

[spudders] 08/11/2021 11:37

Had a few more ahead of news 👍🏻

[kevjones2] 07/11/2021 23:40

Russia isn't the main issue, Tom. The auditors are based in Houston, Texas. Normally 3 or 4 day long face-to-face meetings are required to settle any questions/clarifications. These meetings are being held on Zoom/Skype which is very difficult as the participants are trying to study very large, extremely detailed maps. The 'end of third quarter' expectation of the reserve report being issued was overly optimistic.

It will arrive and I expect it to be positive.

[tom111] 07/11/2021 09:44

In the case of the oil sector I would imagine this would come under essentials imo

[tom111] 06/11/2021 11:50

Google ABC NEWS Russia covid for full details

[tom111] 06/11/2021 11:46

ABC NEWS.In Russia covid surge shows no signs of abatingRussia is in a five day nationwide non working period between Oct 30th and Nov7th but this can be extended by local regions if necessary according to the Kemlin.That is probably the reason for the delay

[spudders] 05/11/2021 07:46

Big trade after hours yesterday???

[kevjones2] 04/11/2021 15:43

What annoys me is that they didn't bother to mention in the other RNSs that the report is delayed but that there's no problem with it. Makes me wonder.

[spudders] 04/11/2021 09:18

Friday or Monday IMO. Whenever it is we need a good result and some decent press coverage to drive the share price

[parknas] 04/11/2021 08:39

Maybe this isn't news for a Thursday.

[seangwhite] 04/11/2021 08:19

Next week will have another Thursday in it !!

[kevjones2] 03/11/2021 20:27

Will we go another Thursday without the reserves update? I hope not.

[jfreshfield] 01/11/2021 18:05

I look at it this way. Last winter the turnaround and operational foundations were set. This winter is all about adding value. Whether the assets are sold in 2022 or 2023 is moot really - the company will be valued much higher this time next year and certainly after the winter drilling programme. Is it an easy 100pc from here - certainly. Will they need to hit a couple of drilling successes to get back to £200m market cap area - probably. Operationally do they have the team to do so - yes

[seangwhite] 01/11/2021 16:34

If its 2023 it will make me a really long term holder like a fair few others here. Let's hope the long wait will have finally been worth it.

[jfreshfield] 01/11/2021 16:01

I think so: with the reserves I do see this is as a big tick box for the DD process a buyer would require. What I think the company needs to do is drill out Cheremhanskoye including appraisal the second target they have mentioned and slowly layer on production. I would love them to sort out the OI position too as that would clean up the company for any future sale process and add on net production which is all the company needs to do over the next six months

[kevjones2] 01/11/2021 15:50

It should be remembered that next year's production figures (for H2 2021 especially) will increase hugely because of all year activity. This is ignoring other increases which are/will be realised from improved operations. I think if any sale is to happen it will be in 2023 unless there's a partial sale before that.

[griffin63] 01/11/2021 15:06

Jfresh,looks like we will find out when reserves update is released.
It must be very close,I would wager this week.

[jfreshfield] 01/11/2021 14:54

To be honest at some point you can see this being sold - but this just adds wait to the board sale or otherwise. Question is - how undervalued is this?

[kevjones2] 01/11/2021 14:51

Just repeating a post of mine from 13/10/2021 below.


Looks more and more like divestment has moved either into second place or oblivion. See this from the Chairman's statement in the half-yearly report issued on 30.09.2021:

"As the Company’s performance has improved over the last two years, our focus has changed from asset divestment to a drive to increase production, cash flow and reserves."

[telegraph1] 01/11/2021 14:51

Looks like a sale is of the table

[griffin63] 01/11/2021 14:17

Maybe their circumstances have changed,improved?
It is Russia of course,have they bn given a clue the resources are bigger?
Or smaller?than hoped!
Could be they are negotiating sale of one of the licences.
Is it 61 and then concentrate on developing 67?
Hes an Independent non exec.
Appears they definitely have plans to progress something themselves.
Quite happy with that,all in all.

[seangwhite] 01/11/2021 14:05

Hard to make this appointment out if they are already involved in a possible sale process.

[jfreshfield] 01/11/2021 07:55

Nice appointment. All about growth now