Advertisement
If you have a new account but are having problems posting or verifying your account, please email Niamh on [email protected] for help. Thanks :)
New AMA with a US police officer (he's back!). You can ask your questions here

Petroneft Resources

  • 04-09-2012 11:50am
    #1
    Closed Accounts Posts: 3,591 RATM


    Has anyone got any thoughts or outlooks on Petroneft ? They are drilling out in Siberia and intend to drill about 10 wells in total. One is producing steady at about 2400bpd. I read the other day that a big company in the area bought out a smaller one, valuing their reserves at 2.35 a barrel but Petronefts valuation is sitting on 88c a barrel so a few analysts reckon they're vastly undervalued and the upside should be coming soon so long as the other 9 wells come on stream.
    CEO is an Irishman Dennis Francis, can't seem to find too much about his working history online.

    So just wondering if anyone here is on them or have looked at them ? I'm a beginner at this game but looking at a play soon. The news coming from them seems to be quite positive of late so just looking to get others thoughts on them.


«1345

Comments

  • Registered Users Posts: 1 lowquencher


    Some good stuff about Petroneft on this blog:

    http://pdosullivan.wordpress.com/tag/petroneft/

    also

    http://www.lse.co.uk/SharePrice.asp?shareprice=PTR

    the meduim term target seems to be in the 30p range in the UK. The only problem is the quality and reliability of information being fed back. Also, it looks like there are no institutional investors holding pneft at the moment - there's obviously a good reason behind that.

    A good punt in my opinion!


  • Registered Users Posts: 164 ✭✭✭ zagamuffin


    Some good stuff about Petroneft on this blog:

    http://pdosullivan.wordpress.com/tag/petroneft/

    also

    http://www.lse.co.uk/SharePrice.asp?shareprice=PTR

    the meduim term target seems to be in the 30p range in the UK. The only problem is the quality and reliability of information being fed back. Also, it looks like there are no institutional investors holding pneft at the moment - there's obviously a good reason behind that.

    A good punt in my opinion!



    Have a couple 😉 of these with punt money , al looks good ESP with recent buyout next door, good drill plan but just need to commericise current wells, water injecting etc to upgrade flows...could be a nice earner in the future....


  • Registered Users Posts: 15 ✭✭✭ Shanek320


    Hi folks,

    I won't be able to make the AGM tomorrow due to work commitments.

    If any of you make it I would really appreciate a quick update on how the meeting goes and any nuggets that may come up.

    Thanks a mill, (in hope!)

    Shanek320


  • Registered Users Posts: 164 ✭✭✭ zagamuffin


    Rns


     
    PetroNeft Resources plc
    ("PetroNeft" or the "Company")
     
    Operations Update
     
    PetroNeft Resources plc (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to provide an update on its operations.
     
    Highlights:
     
    ·      Arbuzovskoye well 101 successfully drilled and completion underway
    ·      Initial results positive with similar reservoir properties to prior discovery well   
    ·      Arbuzovskoye well 102 drilling ahead
    ·      Group production remains stable at 2,000 bopd
     
    Licence 61 - Arbuzovskoye Pilot Development Programme
    Arbuzovskoye well 101, the first of ten planned new production wells on the Arbuzovskoye oil field, has been successfully drilled. Well completion is now underway utilising a workover rig and we expect to bring the well into production around the end of this month. The production drilling rig has been moved and has started drilling well 102.  
     
    Well 101 penetrated the J1-1 reservoir essentially as prognosed at -2,463.2 metres tvd.  Core and log data indicate that the reservoir is substantially identical to the good quality reservoir in the Arbuzovskaya No. 1 discovery well.  The reservoir is made up of coarse grained sandstone at the top and grades to fine grained sandstone to siltstone at the base - these types of sandstones are excellent reservoirs as demonstrated by the Arbuzovskaya No. 1 where production is currently steady at approximately 300 bopd.  The gross reservoir thickness is about 8 metres with about 4.2 metres of net pay.     
     
    Arbuzovskoye contains 2P reserves in excess of 13 million barrels of oil according to independent reserve auditors Ryder Scott and is the Company's second production development.
     
    Licence 61 - Production
    Total oil production, comprising both the Lineynoye and Arbuzovskoye oil fields, remains stable at about 2,000 bopd prior to the addition of production from the Arbuzovskoye No. 101 well.
     
    Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented:
    "We are delighted to have confirmed excellent continuity of the J1-1 reservoir from Arbuzovskaya No. 1 to well 101, the first new production well location. We look forward to bringing this well into production and to providing shareholders with regular updates on additional Arbuzovskoye wells over the coming months as we increase our production profile and cashflows."


  • Registered Users Posts: 164 ✭✭✭ zagamuffin


    Rns in


     
    PetroNeft Resources plc
    ("PetroNeft" or the "Company")
     
    Operations Update
     
    PetroNeft Resources plc (AIM: PTR) owner and operator of Licences 61 and 67, Tomsk Oblast, Russian Federation, is pleased to provide an update on its operations.
     
    Highlights:
     
    ·      Arbuzovskoye well 101 successfully drilled and completion underway
    ·      Initial results positive with similar reservoir properties to prior discovery well   
    ·      Arbuzovskoye well 102 drilling ahead
    ·      Group production remains stable at 2,000 bopd
     
    Licence 61 - Arbuzovskoye Pilot Development Programme
    Arbuzovskoye well 101, the first of ten planned new production wells on the Arbuzovskoye oil field, has been successfully drilled. Well completion is now underway utilising a workover rig and we expect to bring the well into production around the end of this month. The production drilling rig has been moved and has started drilling well 102.  
     
    Well 101 penetrated the J1-1 reservoir essentially as prognosed at -2,463.2 metres tvd.  Core and log data indicate that the reservoir is substantially identical to the good quality reservoir in the Arbuzovskaya No. 1 discovery well.  The reservoir is made up of coarse grained sandstone at the top and grades to fine grained sandstone to siltstone at the base - these types of sandstones are excellent reservoirs as demonstrated by the Arbuzovskaya No. 1 where production is currently steady at approximately 300 bopd.  The gross reservoir thickness is about 8 metres with about 4.2 metres of net pay.     
     
    Arbuzovskoye contains 2P reserves in excess of 13 million barrels of oil according to independent reserve auditors Ryder Scott and is the Company's second production development.
     
    Licence 61 - Production
    Total oil production, comprising both the Lineynoye and Arbuzovskoye oil fields, remains stable at about 2,000 bopd prior to the addition of production from the Arbuzovskoye No. 101 well.
     
    Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented:
    "We are delighted to have confirmed excellent continuity of the J1-1 reservoir from Arbuzovskaya No. 1 to well 101, the first new production well location. We look forward to bringing this well into production and to providing shareholders with regular updates on additional Arbuzovskoye wells over the coming months as we increase our production profile and cashflows."


  • Advertisement
  • Registered Users Posts: 164 ✭✭✭ zagamuffin


    Up 9% , nice


  • Closed Accounts Posts: 1,007 Grecco


    http://www.investegate.co.uk/Article.aspx?id=201209241252359815M

    310boepd from the second of the ten wells. :D
    (350 from the first :) )


  • Registered Users Posts: 164 ✭✭✭ zagamuffin


    Grecco wrote: »
    http://www.investegate.co.uk/Article.aspx?id=201209241252359815M

    310boepd from the first of the ten wells. :D


    It all adds up $$$$$$$$$$$$


  • Registered Users Posts: 1 Hughfitz


    Any news on petronrt


  • Registered Users Posts: 164 ✭✭✭ zagamuffin


    Next well drilling afaik


  • Advertisement
  • Closed Accounts Posts: 1,007 Grecco


    SP taken a hammering today. RNS out Market expected production to be at 3200 not 2600Bopd.
    I picked up 300k @ 4.63p. Seems like a good entry point as its below the placing price


  • Registered Users Posts: 796 ✭✭✭ westgolf


    Grecco wrote: »
    SP taken a hammering today. RNS out Market expected production to be at 3200 not 2600Bopd.
    I picked up 300k @ 4.63p. Seems like a good entry point as its below the placing price

    300,000 Shares is a fair sized punt all right !!

    Westy


  • Closed Accounts Posts: 1,007 Grecco


    westgolf wrote: »
    300,000 Shares is a fair sized punt all right !!

    Westy

    @4.6p that gives Petroneft a market cap of ~£30million
    With the reserves,production and small debt they have I don`t look at it as a punt more like a gift :D


  • Closed Accounts Posts: 1,007 Grecco


    Grecco wrote: »
    @4.6p that gives Petroneft a market cap of ~£30million
    With the reserves,production and small debt they have I don`t look at it as a punt more like a gift :D

    Could turn out to be an expensive gift if they don't get the finger out and up production figures for the next RNS.
    I hope this doesnt wipe out any gains I made already this year :mad:


  • Registered Users Posts: 796 ✭✭✭ westgolf


    Evening all,

    Any one got any thoughts as to the present outlook for petroneft.Seems very settled / stuck at 4c. Where do you see this one going ? I know one or two on here have it in play but is it a wait and see or a simple punt ?

    Westgolf


  • Registered Users Posts: 347 ✭✭ Gman1987


    Article below on page 34 and 36 indicates why this share is trading so bad:
    http://www.thephoenix.ie/phoenix/subscriber/library/volume-31/issue-14/page-28-30.pdf

    Anyone still buying this stock? If there was a potential buyout would it push share price up from the low it is at? It seams seriously undervalued at present.


  • Registered Users Posts: 347 ✭✭ Gman1987


    Anyone make the AGM today?


  • Closed Accounts Posts: 1,007 Grecco


    The SP is starting to rise back up again. Seems that a new refinance is about to be done and the Bod are promising to get to 3500 within months and 5000Bopd within 24 months. Positive results from water injection and it now looks like this could be heavily undervalued


  • Registered Users Posts: 347 ✭✭ Gman1987


    Share price is gone up a well alright. its a pity there is no hard evidence of progress though, there still at 2500 barrels a day. they are doing a lot of promising for a long time now


  • Registered Users Posts: 3,067 ✭✭✭ Dubh Geannain


    Up 13% so far today.

    Most notably, there were two identical purchases of £500k (or 24 million shares) around the £ 4.40 mark


  • Advertisement
  • Closed Accounts Posts: 1,007 Grecco


    60million shares traded today, looks like an institution is taking a stake in the company. Good news if they are. Looks like this one has turned the tide


  • Registered Users Posts: 796 ✭✭✭ westgolf


    Petroneft is also listed on the Irish market but the lift in price never hit that listing though ? Still its a bit of good news for those two or three on here who have it in play

    westgolf


  • Registered Users Posts: 3,067 ✭✭✭ Dubh Geannain


    westgolf wrote: »
    Petroneft is also listed on the Irish market but the lift in price never hit that listing though ?

    Looks to me like it did:
    http://finance.yahoo.com/q?s=P8ET.IR%2C+&ql=1

    A simple case of low liquidity would mean it wouldn't react near as quickly as the more liquid market.


  • Registered Users Posts: 3,067 ✭✭✭ Dubh Geannain


    Doesn't look like there was much resistance at 5.00. Tested 3 or 4 times but breached it.

    Another high volume day. Will it get to 6.00 before it retraces?


  • Registered Users Posts: 3,067 ✭✭✭ Dubh Geannain


    Doesn't look like there was much resistance at 5.00. Tested 3 or 4 times but breached it.

    Another high volume day. Will it get to 6.00 before it retraces?

    Nope :pac:


  • Registered Users Posts: 796 ✭✭✭ westgolf


    Looks to me like it did:
    http://finance.yahoo.com/q?s=P8ET.IR%2C+&ql=1

    A simple case of low liquidity would mean it wouldn't react near as quickly as the more liquid market.

    Thanks for the graph, I should have phrased the comment better perhaps. I agree that there is a low level of liquidity in the Irish listing but there is enough interest (on here anyway) that one would think that a rise in the main listing would be followed to some degree by one in the Irish listing ?

    Westy


  • Registered Users Posts: 3,067 ✭✭✭ Dubh Geannain


    westgolf wrote: »
    Thanks for the graph, I should have phrased the comment better perhaps. I agree that there is a low level of liquidity in the Irish listing but there is enough interest (on here anyway) that one would think that a rise in the main listing would be followed to some degree by one in the Irish listing ?

    Westy

    Personally, I bought my shares on the London exchange despite having to pay commission on currency conversion, purely because there's more liquidity in that market. I'm sure others have done the same.


  • Registered Users Posts: 72 ✭✭ Merelyme


    Petroneft are awaiting a re-finance and/or a farm-out. I strongly expect one or the other or both to be announced this coming week. The share price will increase dramatically with such an announcement.

    There is also the possibility of a complete take-over. Whatever happens, Petroneft is a superb buy. Davy's Stockbrokers predicted in the last 7 days that this share will outperform.


  • Registered Users Posts: 5,301 ✭✭✭ gordongekko


    Merelyme wrote: »
    Petroneft are awaiting a re-finance and/or a farm-out. I strongly expect one or the other or both to be announced this coming week. The share price will increase dramatically with such an announcement.

    There is also the possibility of a complete take-over. Whatever happens, Petroneft is a superb buy. Davy's Stockbrokers predicted in the last 7 days that this share will outperform.

    how do you know for sure that its a superb buy?


  • Advertisement
  • Registered Users Posts: 72 ✭✭ Merelyme


    how do you know for sure that its a superb buy?

    As we're talking about the stock market I presume it's a given that every stock is a risk. One can win or lose - it's the same as any other form of gambling.

    I've been studying Petroneft for about 8 months now. I've looked back over their charts going back 5 years, compared them to similar companies, read all the share discussion sites daily. Most importantly (of course) I've carefully read their RNS's, AGM reports, half-yearly reports and full year reports. They have form (bad form) when it comes to reliability in terms of following up on their 'guarantees' within the time-frame they predict but they usually come through in the end.

    On September 30th this year they said they had made very good advances in their re-financing and/or farm-out. They said they'd let us know in 'a few weeks' time. This refinancing and/or farm-out will reduce their monthly payment to MacQuarrie Bank thus enabling them to begin drilling at sites where they already have licences. They are already producing over 2,600 barrels of oil per day and have a large stock of oil (I think worth over 20m sterling).

    Their share price was 75p (95c?) not so long. I got them at 4c a few weeks ago. Today, 12/11/13, they closed at 5.6c. I could sell but the refinance and/or farm-out is due to be announced any day. Also, there is a possibility a major corporation will buy them out. People with more knowledge than me suggest the share selling price if that happens could be as high as 20c. I doubt that but I think it'd be more than 5.6c.

    That's why (notwithstanding the usual caveat that one could lose a fortune on Petroneft like any other share) I think they would be a superb buy.


Advertisement