Petroneft Resources Forum

RNS - General Invest Overseas S.A. have now increased holding to 15%. Was about 6% last Sep '14. A fight could be on the cards between Natlata and themselves. And then there is Oil India...let the fun and SP price increase being.

interesting RNS ... Natlata have increased their shareholding to 20%... the plot, if not the oil, thickens...very, very interesting...

in march 2013 the bod announced that production had reached 2800bpd , is the company advancing backwards ?

just pump and dump

sp could go up to 8p but more likely to go down to 3p

20p if only oil price back to $100 and the russian ruble is worth more

i have been a critic of the bod for the past number of years on the purely business basis that they have failed the shareholders by failing to deliver on production output ie forecast for 2012 was 4k to 5k bpd in 2014 they failed to produce 50pc of this volume .in the past 6 years this share has lost over 90pc of its value , a serious loss of funds to the unlucky people who purchased shares on the false promises of the bod . combined with this the bod has over the years misspent the cash flow with no results of any meaning to show for the spend , over the years their salaries and expenses are over the top for a bod that continues to mismanage .i am now forecasting that no production forecasts for 2015 and 2016 will be achived .

despite the upbeat tone of the update, note that total production stands at 1850 bopd i.e. hasn't really increased at all since last year - if anything, it seems to be decreasing despite the cash injection and talk about new wells being drilled...will this thing ever deliver???

Canaccord Genuity reissued their hold rating on shares of Petroneft Resources PLC (LONTR) in a research report released on Tuesday morning. Canaccord Genuity currently has a GBX 8 ($0.13) price objective on the stock. Canaccord Genuity has also updated their ratings on a number of other stocks in the last week. The firm reiterated its sell rating on shares of Diageo plc (ADR). Also, Canaccord Genuity raised its price target on shares of Canadian Imperial Bank of Commerce from C$105.00 to C$108.00. They have a buy rating on that stock. Petroneft Resources PLC (LONTR) opened at 6.275 on Tuesday. Petroneft Resources PLC has a 52-week low of GBX 3.75 and a 52-week high of GBX 7.25. The stock’s 50-day moving average is GBX 5.76 and its 200-day moving average is GBX 5.94. PetroNeft Resources Plc is an oil and gas exploration and production company, focused on Russia. The Company has interests in 4,991 square kilometers oil and gas license (LONTR) in the Tomsk Oblast in Russia and a 50% operating interest in 2,447 square kilometers oil and gas license (License 67)in Tomsk Oblast.

I contacted Davy's yesterday, even though the last trade in Dublin on Tues was 9c the spread was 7.3c - 8c. Using the current EUR/GBP FX rate of 1.2563 gives equal selling prices on both exchanges.