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Petroneft Share Chat (PTR)



Share Price: 6.325Bid: 6.30Ask: 6.35Change: 0.00 (0.00%)No Movement on Petroneft
Spread: 0.05Spread as %: 0.79%Open: 6.50High: 6.50Low: 6.275Yesterday’s Close: 6.325


Share Discussion for Petroneft (PTR)


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SmartVestor
Posts: 895
Off Topic
Opinion:Strong Buy
Price:4.88
pablo
8 Feb '13
Funny how fox brought that out and hastened a drop and then later today they are the most active mm buying shares and in huge quantity too.DYOR
 
Mr.X
Posts: 8,743
Off Topic
Opinion:No Opinion
Price:4.88
+
8 Feb '13
twas -49..C .
That 8C makes a heck of a difference.. add 2 more pairs of thermals and a sock down ya skidders :)
Mr.X
Posts: 8,743
Off Topic
Opinion:No Opinion
Price:4.88
Pabs
8 Feb '13
Management need to don their woolies and get out there :)

Would love to know what is being produced on top of that 2600...could be making a major difference from the excluded wells.
SmartVestor
Posts: 895
Off Topic
Opinion:Strong Buy
Price:4.88
Mr X
8 Feb '13
Yes we will see in next TR1,s or holdings updates,i understand there were a few in the last placing that wanted far more but missed out so they are maybe the likely candidate,s.Bottom line is another successful well at arb after the last four and some seasonal effects on other wells to be sorted but i think the next total production update will be an eye opener if all the offlines are back and 112 online.That is why i hugely increased my stake here today :-)
pablo2
Posts: 4,673
Off Topic
Opinion:No Opinion
Price:4.88
Fox-Davies
8 Feb '13
don't like it :

PetroNeft Resources (LON:PTR) – Announcement Says More Than Just Lower Production: Today’s operational update does not make for good reading, as there are now (i) operational issues; (ii) questions over technical competency; and (iii) questions over engineering competency. In October 2012, we highlighted our concerns that:
“…given that the ambient temperature is well below freezing, there is a concern growing that management may be too far away from the nub of the action to assert effective control, which will be more of a concern when production does start to ramp up. Still, better to get these issues ironed out at this stage than be faced with a major issue to tackle later…”
In December 2012 the more upbeat update seemed to indicate that what we had initially thought of as being a blip, was indeed the case. Today’s news, however, would point towards a systemic failure, not only in topsides, but also subsurface engineering. While fine sands being entrained with produced fluids is not a concern, the fact that this new is an issue; we will comment on more later. This is compounded by the fact that reservoir is showing unexpected signs of declining pressure. The announcement also details the fact that cold temperatures have impeded growth, a follow-up to the October announcement detailing the same issue. These three issues point towards a troubling pattern, the surprise at the reservoir performance indicates a poorly designed, or hurried, testing phase, and given that lowest recorded temperature in Tomsk for the last 5 years has been -41C (December 2010) (as provided by Wunderground), that the topsides equipment is not designed for these temperatures, raises serious questions over whether the management team have really thought through everything before pressing ahead with their development. We would now have questions not only of the reported 2P numbers (as a minimum a review will now have to be undertaken), but whether a root and branch of the Company’s operational review needs to take place.
In this news:
• Arbuzovskoye well 112 successfully completed
• No water production associated with the well
• Initial oil flow rate of 140 bopd, well presently shut-in for pressure build up testing
• Well 105 currently drilling ahead
• Production from two Arbuzovskoye wells temporarily reduced by c300 bopd due to mechanical issues; expected to be fixable by workover or pressure maintenance
• Total production running at 2,600 bopd; excludes 400+ bopd potential from well 112 and the two mechanically reduced Arbuzovskoye wells.
------------------------------------------------------------------------

If this is the general analyst view, it's not a nice one, and explains today's hammering.
Mr.X
Posts: 8,743
Off Topic
Opinion:No Opinion
Price:4.88
SV
8 Feb '13
Ya just never know.
Using a 4.52p 1 mill sell this morning as base level... It just might give enough 'doubt' to let some sneaky bleeder in.

9%ish of company traded today.. would expect to see what was going on over next few holding rns's..if some one 'mysteriously' has more than they did ;)nudge wink blind bat ;)
SmartVestor
Posts: 895
Off Topic
Opinion:Strong Buy
Price:4.88
Mr X
8 Feb '13
They were clearly II buys imvho,do you think they would take such huge sells on a day like today ? this was engineered in my opinion and someone wanted a load of these today and got them.Only shame of it is it has been at expense of some nieve or nervous investors who sold out early before reading the rns properly.

EXPECT A BIG BOUNCE BACK NEXT WEEK
Mr.X
Posts: 8,743
Off Topic
Opinion:No Opinion
Price:4.88
1mill buy
8 Feb '13
..waiting for a counter strike from Apollo Creed :P
Mr.X
Posts: 8,743
Off Topic
Opinion:No Opinion
Price:4.88
L2 info.
8 Feb '13
Now 3 v 1.
FOXY came up to play too..

Pretty solid support at 4.75 gained.
Great to see for everyone who's bought and held through those biiiig dumps..(or buys if SV is right).:)
dried-grapes
Posts: 298
Off Topic
Opinion:No Opinion
Price:4.85
4000 Bopd
8 Feb '13
I think 4000 Bopd is very achievable within the next 6 months.



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