Another positive news from ptr. No gimmics and empty promises. Facts only which are far more positive than expected. Company is focused on improving cash flow and production quite effectively. Market will start believing in the ptr again. I've got a feeling it will happen sooner than later and sp will start moving north v. fast. Today might be just the beginning!
Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented: "We are delighted with the outstanding production rate of over 500 bopd from well 102. This is well above our target rate for these wells and further confirms the excellent continuity and good reservoir properties in the eastern portion of the field. While there may be some variation in results, we look forward to the additional wells in Arbuzovskoye over the coming months as we continue to focus on materially increasing our production profile and cash flows."
· Arbuzovskoye well 102 successfully completed with an initial flow of 540 bopd · Flow rate is highest ever achieved without fracture stimulation in Licence 61 · Production confirms good reservoir properties interpreted from log and core data · Arbuzovskoye well 109 drilling ahead · Group production increases to over 2,700 bopd with addition of well 102
I agree with most of the posts on here ,the news flow is with PTR re;td on drills and then bopd online this will keep PTR in the news for the next 5 months or so especially if every well comes online at 300+bopd .Dont think there are to many companies on Aim with this news flow in the next 6 months.SP depends more on O&G shares sentiment turning positive more than anything else IMO. The O&G sector is well overdue a positive correction as hardly any shares reflect a true asset or takeout value ....
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