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this may do the same as GST over the past few days... maybe double
Yeah very promising, a whole 3 trades lolz. been burnt here before don't touch it.
The spread covers the rise which is a shame
LOOKING AT A PROMISING AFTERNOON
whats going on today
Someone should check with the management to make sure they have an exit route if they except a cash offer. I know several companies who have sold assets cannot get the cash out of the Country as no one will take Russian cash, as it is actually illegal.
Someone should write to these guys
.....no comment on this, just sold for a handsome profit, last year thought this was another which has gone, every dog has its day :)
Rather looks like the company could be heading for a suspension because there has been no news about the appointment of an auditor after the previous ones resigned due to the Russian connection
Yes it was interesting to hear if decisions go in their favour the Russian companies could be in a healthy position but Petroneft itself could end up suspended
Listened online to AGM this morning
Seems they are trying hard to find solutions to an impossible geopolitical situation.
Hurdle after hurdle... Doesnt sound good but they haven't given up yet.
Still worth a punt, as things could change if we have a takeover from Oil India!
The value of the market can is now less that Gross Debt: US$5.27M. The company now is owned by creditors and they will certainly not leave any value left for the personal investor. If it cannot pay off its creditors as cash is not enough, the creditors will demand the shares delisted and administrators are brought in so they can get back what they are owed. So no value is left here. Nor will there be. Its the end of the road
Even if they were to sell, it could only be to a Russian Company. Then they would never get their money out of Russian. Looks like the creditors will demand that the shares are suspended in order to protect their asset. Of which the creditor will take control. Nothing left for the personal investor.
Not sure why people think they could sell their assets. Will the amount they get pay off the creditors. Then if there were any excess they would have issues getting the money out of Russia and no western banks who do the trade from roubles to pound or dollars.
In my view the creditors will call in the loan and if not paid in full by the said date it will protect its assets and demand that the company be put into voluntary administration to protect its assets.
Its over guys. Will be suspended in weeks. All value has gone and it will be in admin. No way back I am afraid.
The problem with selling the fields is that not only the loans have to be paid off but also the 5 million that Petrogrand is entitled to if the licences are sold before the end of 2024.
Not nice to see ones hopes disappear due to the actions of Putin but I cannot see a way out if we cannot even raise funds for the development of licence 67 .
Best hope is that Oil India decides to take it over based on the Miller and Lents reports as that showed massive potential even at 65 dollars a barrel and it is likely that only Indians Chinese or Russian interests would consider it
I expect any buyer to play hardball and expect shareholders to be wiped out
If it cannot renegotiate its loans by end of December the creditor could close it all down. Then the company with this strategic review could suspend the shares in order to actually protect its creditor. Could be Administration next.
Not really unexpected tbh, I think it's been on the cards for a while.
Because of where the assets are I wouldn't be at all surprised to see a sale of their assets and an exit from Russia.
Wow terrible RNS update.
It did OK to only drop 25%- after all that bad news in 1 RNS
RNS out - very quiet thread here?!!
Results out today! future seems positive!
Looks like PTR finally had enough maybe they sell the field completely
Maybe a ick investment with potential
Be good to see results to find out what were dealing with here
Surprised this is still trading
Aside from the obvious Russia issue it’s lost money for the last 3 years according to yahoo finance.
Just bought 150k shares, again it is listed as SELL!! What the hell is going on with this website?
Just bought 25k shares, the only person who has and it is shown here as a SELL! Wow!!
Hi all, I’m relatively new here, I have a question, I bought 350,000 shares on 20th May just before 4:30pm UK time, yet there is no record in the historic trades here…I do have them in my account. I also bought 100,000 and they are showing here in historic trades.