miltonboy
30 Jun 2015
Nattala increasing by 6m holding up from 19.77% to 20.63%.139.9m to 145.9m.What do they know?With Gen Inv holding 15.01% as wellhmmmmm!!!!if only I had any idea what they were up to.
miltonboy
30 Jun 2015
Drill results due soon, no? the end of June / Early July the expected drill results?this share is not the most communicative, but one would hope we see an update on the new drills.
longmile
30 May 2015
longmile a chart published in ireland high lighting the worst performing shares on the irish stock exchange in the past 5 years was headed by petroneft with a fall in share value of in excess of 80pc . what hope of success now with the same bod .?
elliottsilverman
22 May 2015
a few promising nuggets in there like pipeline being completed etc but daily output never actually seems to be increasing in any meaningful way ... I thought we were at 2000 bopd about 3 yrs ago...
longmile
22 May 2015
SAME SAME IF ONE WERE TO LOOK BACK OVER THE RNS FROM THE BOD OF PETRONEFT FOR THE PAST 7 YEARS ,YOU WILL SEE THE SAME TYPE OF LANGUAGE USED , VERY SWEET WITH NO CONCRETE RESULTS FOR THE BENEFIT OF THE SHAREHOLDERS . THE DAILY PRODUCTION LEVEL IS LESS THEN 2K BRLS . THE FORECAST 2 YEARS AGO WAS FOR DOUBLE THIS PRODUCTION RATE . THIS BOARD SHOULD HAVE BEEN FIRED YEARS AGO DUE TO INCOMPETENCE BUT STILL DRAW HIGH SALARIES AND EXPENSES BUT DO NOT PRODUCE RESULTS FOR THE PEOPLE THAT MATTER ..THE SHAREHOLDERS.
elliottsilverman
01 May 2015
Of course the SP jump is big on a tiny trade - some small investor (3000 shares equates to 200 euro!!) decides PTR is worth a punt but not much activity in the market and no-one is arsed selling so has to bid a cent above current price i.e. 0.07... an increase in outlay of €20 on the trade. Net result: the board shows PTR has risen by 16%... this is a non-event. You need to consider the liquidity of the stock.
Deco
21 Apr 2015
From Oil Barrel 20th April .....Time was, back in 2013, PetroNeft Resources, which is a Russia focused E & P, gave up making production forecasts. It only seemed to get them into trouble. Output from its Lineynoye and Abuzovskoye fields on its flagship Licence 61 in the Tomsk Oblast in Siberia stalled at less than 2000 bopd, when once 4,000 boepd or even 8000 boep was portended. That there was trouble in moving up production was, in part, due to technical problems in the Lineynoye field. But the bigger problem was that, labouring under a suffocating load of debt, the company did not have the cash to drill new wells. This in turn led to some Russian minority shareholders attempting to gain control of the company without making a full bid for it. With all this going on the shares nose-dived. The management led by CEO Dennis Francis and CFO Paul Dowling, kept its nerve, firming believing that with the right co-venturer the assets had great potential to be further developed. They cast around for a farm-in partner. The second half of two thousand and fourteen marked the beginning of a turnaround, with PetroNeft signing up Oil India as a 50 per cent farm-in partner for Licence 61 in the Tomsk Oblast. This, of course, was a breakthrough transaction for AIM-quoted PetroNeft, as it delivered a US$35 million upfront cash sum that has allowed it to clear the debt pile and, importantly, unlock a US$45 million spend on exploration and development across the key 4,991 sq km block 61 which hosts audited reserves of 117 million barrels of oil. After drilling some new wells the company was able to announce, in its most recent output update that production was running at 2000 bopd and year-end production from Licence 61 is estimated to be between 3,500 and 4000 bopd based on current drilling results and the planned 2015 drilling programme. The block has a number of fields and instead of going immediately back to one of two existing two producing fields, Arbuzovskoye which was producing 800 bopd out of a total of under 2,000 bopd decided to start a new operation on the yet- to- be developed Tungolskoye field. Two wells have been drilled here, one in the Soviet era and the other five years ago by PetroNeft. As a result of these wells the field is thought to host 20 million barrels in 2P reserves. The Tungolskoye No 5 well, which is costing US$3.5 million to drill, is PetroNeft’s first horizontal well with a pilot vertical hole followed by a short horizontal drill. The previous wells were vertical wells. Tungolskoye No 5 has been drilled higher up then field than the two previous wells, thus avoiding any danger of running into water cuts which so bedeviled output at the two existing producers Arbuzovskoye and Lineynoye. The idea of a horizontal well was that it could yield flow a rate of 500 bopd instead of the 120 bopd or so that vertical wells habitually produce in this part of the world. As it happens, this figure turned out to be an under-estimate. The company has announced that the Tungolskoye No5 well tested at over 600 bopd and is now in production. The horizontal segment of T-5 well was just over 350 metres of which over 80 per cent was located in the J1-1 and J1-2 Upper Jurassic intervals. Production reached 604 bopd. Having started off with Tungolskoye, PetroNeft has also quickly picked up the reins at Arbuzovskoye. On Arbuzovskoye four vertical wells have been drilled and three of them are producing. Current plans are to develop the southern portion of Arbuzoskoye with a combination of horizontal and vertical wells starting in 2016. In all, total production from licence 61 has been running at about 2,450 bopd. The latest update, again published before Easter, says at Tungolskoye a contract for the drilling for up to 11 wells, up to five of which will be horizontal has been awarded to SGK Drilling, a subsidiary of Russia’s drilling contractor. The construction of a 25 km pipeline and utility line from Tungolskoye to Lineyskoye Central Processing Facilities is now underway. The T-5 well is temporarily shut-in for pump remedial work to be completed. However, there is output from Wells 103, 104 and 107 on Arbuzovskoye, which has kept overall production steady at 2000 bopd. With addition seismic to be acquired there are plans to develop the southern lobe of Arbuzovskoye in 2016 with a combination of vertical and horizontal wells. On the large Sibrayevskoye field where there could be more than 50 million barrels of oil, appraisal well No 373 has spudded with the result expected this month. The company is highly incentivised to bring this field online: the Oil India farm-in terms include an additional U$5 million performance bonus if production from the field hits 7,500 bpd within the next five years. So there is a lot going on. The company looks to be in a recovery mode and missed targets appear to be a thing of the past. But the activity has clearly yet to excite investors in the poor trading climate. The shares are currently trading at Euros 0.06 against a 52 week high of Euros 0.09.
sufi sb
11 Mar 2015
Re: bought in today... Added 67k shares today. Looking forward to the 11 well programme starting April If they can achieve 500 bopd from the 5 horizontal wells simular yo the T5 drill then the other 6 can come in at 150-250 bopd giving then roughly 5500-6000 bopd going in to the new year should sp around 10p-12p which is 300% from today's sp give or take a few %I'm in it to win it.
elliottsilverman
05 Mar 2015
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.
sufi sb
04 Mar 2015
bought in today... 200k shares. got 4.3p im happylooking forward to updates but it was todays volume that stuck out n reached for me rns due very soon on a few wells rn
elliottsilverman
27 Feb 2015
interesting RNS ... Natlata have increased their shareholding to 20%... the plot, if not the oil, thickens...very, very interesting...
GiveMercy
06 Feb 2015
Re: Todays presentation - Lambrini Girl please tell us what you found in the writting to suggest that after 3years the SP will increase by 5 fold to hit the 20's ?Mercy
longmile
05 Feb 2015
in march 2013 the bod announced that production had reached 2800bpd , is the company advancing backwards ?
dotlink
31 Jan 2015
just pump and dump
dotlink
31 Jan 2015
sp could go up to 8p but more likely to go down to 3p
