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When we have so much news coming and some of which could transform this share I do not get why anyone would sell now.
Little bit of action quietly going on here.... Snagged a few last week
5p very soon I recon, hopefully rerate will bring us higher! Onwards and upwards.
Looks good for a retest of the recent high and if operations update confirm what some here predict we could see double figures. The reserves report due by end of Q3 will not hurt sentiment either.
Agreed, once the reserve/re-rate happens, hopefully by end of Q3 this should move nicely upwards past 10p with a bit of luck! Good time to buy now.
great post Sonic, this share is going totally unnoticed.
Rough calculations for the effect of increased production, improved efficiency and higher oil prices on licence 61 income:
2020 (known)
Production: 1562 bopd
Ave $/barrel: $28
Revenue: $16.7m
Cost of sales: $17.45m
Gross loss: $745k
Net loss: $11.4m
2021 (projected)
Production: 2289 bopd (current)
Estimated ave $/barrel: $68 (current price $76)
Revenue: $56.8m
Cost of sales: $25.5m
Gross profit: $31.3m
Net profit: $22m (£16m)
Based on the increase in production and efficiency that was stated in recent results, coupled with the rise in the price of oil, it looks like license 61 income will swing from a small loss to a very big profit this year. 50% of that profit comes straight to PTR. If my calcs are right, then that would see PTR receive £8m net profit from license 61 in 2021. Just based on that, with a P/E ratio of 20, market cap would be £160m. And that’s not including any value for the 90% ownership of license 67. Makes a mockery of the current £35m market cap.
sp stiring at last
Looks like the next move is to 5p just hold on to your shares in the next few months this will be trading in double figures imo.
No share price goes up in a straight line this is now a good base for the next rise and to continue the re rate. Full value of this share will be seen when assets get taken over IMO this will be 2022.
Not to worry just a blip. May even be 1 or 2 lth's wanting to get something back from the years of being in here. Whatever it is very foolish to sell now looking at the fundamentals and decent bod in place.
600,000 and 300,000 buys today I wonder why the sp dropped
Oil on the up again
Some investors have been in here for years and are deciding after 10 years to take some money out, this is all good because the mm’s had no shares with such a low free float this will climb nicely on next news and continue its path to 10p +
lol why the drop?
Seems I made the right move selling zhyr last week and buying in here at 4.20.Slow steady increases every other day suites me fine.Oilies are now the flavour of the year with oil set to continue upwards after no increase in production by OPEC.GLA
Great to see this continue
And so quietly
3 mm’s at 5p. These shares are held so tightly as everyone invested knows it’s significantly undervalued with a great board in place.
Love the fact this is 50% up over the last few weeks and hardly anyone is talking about it. Allows some savvy people to accumulate on the quiet before every man and his dog turns up which they eventually will...
Yes nice and quiet just slow tick ups without being noticed too much,we don't want a spike
I much prefer these quiet, illiquid stocks.
Buy the fundamentals, top up on the dips and wait for the crowd to arrive.
Looking great here imo
Phil agree there re you're last post. Again it's been impossible to buy decent amounts without going to NT today and now it's just ticked up again going into close.
Whilst some oil shares are being ramped to high heaven this continues to go unnoticed, with over 1200bopd and a reserve audit taking place with significant resource grade expected. What I really like is the proven reserves that are already known make this company significantly undervalued and when the new board has so much experience I have confidence that they with be increasing production in the near future. So with the cash they are already generating this will pay for future wells to come on stream. Exciting times and the new board along with the TR1 investors hold 80% of the shares.
No quote for more than 10k shares at close but bid was very strong.
Slow and steady wins the race :0))
I bought some more today - very difficult to get a quote for anything over 150k shares at a time and anything beyond that it just goes to NT which I suppose could be deemed as a good sign...