Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Looks like sellers are done at 3p, with not many shares in free float this will move up quickly when investors do the sums.
Agree Don, like I have already said further down you do not see a board and large investors that have the majority of shares then going on to swap debt for more equity. I like to see confidence from the board. Also tidying up of L67 ownership!!
Phil, many thanks for your reply.
i believe all of us agree that PTR is under valued. the new management is working with the main shareholders to do some low cost, high return works to try to get a better sale price for PTR assets at the market.
L67 is the key, next well result is very important and it seems Bod are very confidence with it.
GLA
Yes Don I have added a few so they are in very sticky hands but looks like others are doing the same. My comment re sticky hands was about not many are wanting to sell.
i also notice there are more single buyers more than 100K volume recently.
Does it mean your " Skickly hands"?
Looks like more shares are ending up in sticky hands, with increased buying pressure this will climb quickly. I take a lot of confidence that the board and tr1 investors hold 70% of the shares.
Already producing around 1200 bopd they now have the roads and facilities to ramp up production which at current oil prices with known reserves has not been taken into account by the market. Also how many times do you see a board and tr1 investors who already own 70% of the shares swap debt for more equity. They must be confident of something happening soon !!!
PTR seem to have finally managed to get itself sorted and 5p seems an easy first target level. Holders are all sitting on large losses so any take out needs to be a lot higher than 5 or 6p
When the market makers have no shares and its NT to buy why do some investors sell ? Its only a matter of time and this will be soon 5p+ . The known Resource is massive for this mcap, they are producing net 1200 bopd and the directors/ company investors own 70% of the shares.
This company will soon be trading at 5p+, no shares available at current price with the stock tightly held and very little shares in free float. Great CEO interview released today and patience required when buying as its taken 20 minutes this morning for my top up to be filled.
https://t.co/v2RRJydUxy?amp=1
Petroneft is simply re-rating to reflect the ever improving operational performance under the new team, for long term holders, can you imagine if this team was in place 10 years ago - where would Petroneft be now. The shares hit 70p ten years ago on expectation, that valued Petroneft at circa £250m at the time, makes a mockery of the current £30m m/cap.
Looks like 5p+ is coming soon enough just based on operational performance, they could add another 700-1000 bopd by end of this quarter, that alone is a significant increase in revenues if attained, that could take the share price past 10p Even at 5p a share PTR would only be valued at £50m, there are pure explorers valued higher, I am sure if a broker research note were published their target range would be north of 8p a share right now. It's exceptionally hard to get any shares in PTR around current levels, good luck trying !!
Debt has been swapped for equity recently
Production is increasing
rumours of potential buyout
Undervalued imo just a matter of time before private investors catch up with this company.
Significant Shareholders as at 24th March 2021
Name of Shareholder Percentage Shares
Natlata Partners Limited 25.79% 237,117,793
Ms Daria Shaftelskaya 9.86% 90,670,555
Seguro Nominees Limited 4.93% 45,357,433
Mr. Dennis Francis 4.50% 41,397,643
Mr Zhai Duming 3.05% 28,000,000
J&E Davy 10.87% 99,901,702
HSBC Nominees 4.00% 36,745,243
Directors Shareholdings
Director Percentage Shares
Mr Alastair McBain 10.08% 92,698,500
Ms. Daria Shaftelskaya 9.86% 90,670,555
Mr. David Sturt 1.73% 15,876,866
Mr. Pavel Tetyakov 1.35% 12,444,530
Mr. Anthony Sacca -
Total Directors Holdings 23.03% 211,690,451
there's not much hope for the SP in short term, IMHV.
I am surprised there's not much interests in so good RNS (three pieces of positive news together) and there are 3 MMs offer sales at 3P, only up 11% till now
Seems like not much stock around and still under the radar.
Nice to see more positive news this morning. Onwards and upwards!
Interesting post this morning over on A@VFN - a sale of the company would be one way of returning shareholder value
MrMcnee13 Apr '21 - 09:36 - 32711 of 32711
The company appears to be packaging themselves up to be sold, legacy debt provided by Directors and company friends has been converted into shares + infrastructure improvements (e.g. mini refinery and all weather road) have been made recently to make Petroneft more attractive to prospective buyers.
It is worth noting that Oil India paid $85m back in 2014 to acquire just 50% of one licence (no 61)
The main shareholder in Petroneft is a outfit called Natlata they now own 25% of the company and have been aggressive and want a return on their investment having paid much higher prices for their shares.
Natlata have been instrumental in removing the useless historic management and have put their own team onboard - the new (and seemingly impressive) CEO was one of their appointees.
I fully believe Petroneft will be sold and a deal could be announced sooner than many believe, the environment is now ideal for such a sale.
With 919m shares in issue PTR is valued at a mere £21m - any deal would be north of 10p a share for certain.
There have been a few tweets concerning Petroneft from Russian focussed investors, all suggesting the company is materially undervalued and are expecting a material re-rating once news starts to kick in.
All I personally know is that it is exceptionally hard to buy a meaningful slice of shares in the market at the best of times. The stock is exceptionally tightly held.
Current situation, PTR is undervalued compared to its peers. No doubt.
How can you possibly compare 2010 with today. That's like saying your sunday league pub team will lose based on history despite improving the pitch...having the $$ to buy new shirts and a team bus which can use the new road to the ground....buffoon's in goal and Ronaldo's upfront.
Never mind Phoebus come back in 6 months lets see who was right. They have managed to increase production already by some simple frac operations and have some exciting plans over the next year. A very good pick for a company with some prime Siberian oil real estate. I wonder why the swapped debt for equity !!!!
I have. Still not impressed at all.
Phoebus suggest you read up a little on recent updates. Yes the old board did not have a clue take a look at what is happening now and this is undervalued. Why would the board swap debt for equity now !!!
'On course to achieve year end 2010 production target of 4,000 bopd by early December, rising to approximately 12,000 bopd by the end of 2012.' LOL
https://investegate.co.uk/petroneft-resources--ptr-/rns/us-43-million-placing/201010190700125943U/