We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Link to CEO interview (very bullish btw)
https://tinyurl.com/4z7wutz5
From another board
Natlata own 26% of Petroneft equity, they have been holding a very long time and supported the company through a number of fundraises. Having taken a look at their purchases it seems their average is in the 5p-6p ballpark.
There is no doubt in my mind that Natlata want to exit, they were behind the management changes forcing the old brigade out initiating the 'for sale' commentary from the new incoming CEO in 2019.
Any offer would have to be agreed, 10p a share would value PTR around £100m, I believe this would be acceptable to most stakeholders.
Not a time to be out.
Didn't know about the censorship on competitors, it was directors talk interviews.
***************************/
https://www.***************************/petroneft-resources-look-to-the-future-with-a-significant-degree-of-optimism-interview/412998931
Very confident for the future, glad to be onboard at these levels.
Shame about the finish. The news merited more imo.
significant update missed by the market today - Workover operations on the L-2a well at the Ledovoye field, also at Block 67, had been carried out successfully, the company added. That produced an oil flow through a perforated liner, which should enable PetroNeft to book Russian state reserves, leading to the creation of development options for the field.
"The production from the Cheremshanskoye field is extremely encouraging, and clearly demonstrates the quality and potential of this asset," said chief executive officer David Sturt.
"It is satisfying to now have a cased hole test at the Ledovoye field.
"This successful re-entry crucially enables us to be able to seek State Reserves Committee (GKZ) approval - a major necessary milestone before we can progress development of the field."
Sturt said licence 67 was continuing to deliver, following PetroNeft's successful acquisition of an additional 40% interest, taking it to 90% from 50%.
"The strong operational performance, combined with the improving oil price, has significantly improved the finances of the company, which has enabled us to fund construction of the road and re-entry of the Ledovoye L-2a well without the need to call down agreed financing arrangements which now remain in place should we need the capital in the future.
"While we remain at the early stages of rebuilding, this achievement is a tangible demonstration of our improved financial position over the last 12 months. "This progress has been based on a laser-like focus on reducing costs and harnessing local expertise to maximise the return from our assets."
This article dated May 2019 confirms the plan, note they target 2 to 3 years, well we are now into the final leg of the 2-3 year timeline ! Recent debt conversion into shares by directors and others close to the company should tell you all you need to know. Irish exploration company PetroNeft Resources looking to sell-up Https://www.irishexaminer.com/business/arid-30922828.html
It would have been great to see the oil flowing without the water content however for this field it will be about the size of the resource if they proceed. The current production levels and known resource in the other fields should have this priced higher and with the board & tr1 investors holding 80% of the shares having also swapped debt for equity it will not take much volume to see the price at 6p+. This company should not be valued at £30m imo when you compare to others this should be £60m +. They have also managed to develop asset and complete this drill from generated cash and not take up the loan that for me is the difference and going forward the cash will now be used to get more wells in production on the other fields.
Not up with the stock but seemed a decent update this morning with little movement.
Would it be the L2 result being a might disappointing short term? ie no large flow rate and water to deal with.
Fantastic RNS with cash in the bank now that is going to increase to help develop the already in production fields. Really impressed with the board and management team the re rate continues.
The free float is tiny and the shares move quickly on thin volumes. I expect to see a material increase in volume ahead of expected news due shortly.
The current work programme could / should add significant value, has the potential to increase production by at least one third, not currently factored into the share price, current £28m valuation is very low.
No wonder people are adding in anticipation of good news.
Cheers Don777. Might be worth my while to open an account with them. I also have certificated shares in 2 other companies which I will probably change to electronic shares.
Thanks for your help.
I have account with them already and communicate with them via message center in my online account.
you can have a try to open a trading account with them first, communicate with them via writing is much better than calling, as they take those writing staff more serious.
Good luck.
Thanks Don777, I will try them again. Did you phone them or email them? What email address did you use? I phoned their Salford office. I need to get this sorted. I'm worried I will end up with a load of shares that I cannot sell.
Blugary52,
please see the following email i had replied from AJ Bell last month:
"
Thank you for your message and apologies for the delayed response.
You are able to deposit share certificates on our platform by sending us the certificates themselves and a Crest transfer form.
You can find the form on our website via the useful forms section.
If you have any further queries, please feel free to contact us.
Yours sincerely
I have slowly been building up a significant holding within Petroneft one of the major reasons is that 79.3% of the shares are held by the board and significant investors see link below -
http://petroneft.com/investor-relations/share-capital/
They also now have a board that is aligned with significant holders that know how best to create value for shareholders.
Find me another company that has such a low free float, 3p will soon be gone.
Hi Don777, I spoke to AJ Bell this morning. They can only put electronic shares into their account. They suggested speaking to the registrar of my shares which in my case is Computershare and ask them if they know a company who can do the transfer. I have also contacted Hargreaves Lansdown with no success.
Thanks Don777 Will contact them tomorrow.
pls have a try AJ Bell, i have some PTR share cert and emailed them for this before.
they told me last month that they could help, but i haven't post it to them yet.
All the best
Hi everyone. Can anyone recommend a broker who can change my certificated Petroneft shares to digital then transfer them to Euroclear Bank. Due to very long delays by a broker I signed up with I missed the deadline when migration happened in March.
Posted on another forum worth a read -
Russian Domestic Oil price hitting 12 month highs once again, this is very beneficial for Petroneft. As a result of high oil prices Rosneft returned to profit recently. Https://www.themoscowtimes.com/2021/05/14/russian-oil-giant-rosneft-back-in-black-as-prices-recover-a73903 As others have pointed out I believe the next update will be very material for Petroneft shareholders, the remedial work on well L2-a is ongoing with results expected by end June. The well in question has the ability to seriously change PTR production profile, putting it close to the 3000 bopd attained in 2012. It is worth noting that the last time Petroneft produced 3000 bopd they were valued at £224m, appreciate things have changed but it gives an idea of future prospective upside. It is obvious the current market valuation of £34m is totally out of kilter to forward production plans, reserves, possible corporate activity and the rising domestic oil price. The new management team are not messing around either. I have not been so excited about PTR as a investment proposition since I was buying at 9p in 2009, sold at 55p 18 months later, I see a similar percentage move in due course. Took some more stock on Friday.
When mm's have to delay showing a trade for £7500 that was a buy and then move to nt after 2 trades next rise to 3.2 should be very soon. With less than 30% of shares available to private investors I am holding mine tight.
peers are valued circa £60m-£90m based on current production of 1300 bopd - would equate to 6p-8p per #PTR share - even allowing for 'Russia discount' the shares are miss priced by the market
Can anyone suggest a way of me getting my PTR share certificates transferred into the Euroclear account?
I contacted a local broker who tried to transfer my shares through their custodian, who after a very long delay said they could not be transferred in because they did not have the facility to register the holding via Euro clear.
This is looking strong at this level now and Zac has called this every time and looks to be right again with charts pointing toward 4-4.5p. Continue to re rate back to fair value still way undervalued.