The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Always do your own research. Great board now in place with a ceo that reply’s to emails. With over 80% held by the board and tr1 investors Earl of wisdom will have little impact on the share price IMO. Good luck with your decision.
to buy here but then noticed the well known stock ramper AnEarlofWisdom all over this one which is always a big red flag. Lots have been stung by his calls. Still watching closely as looks cheap
Simon you have taken the wrong figure for Proven Reserves the 316m is the gross valuation of the two licences but the Petroneft share is 178m because they do not own 100 per cent of the licences.
I expect the share price to improve as we get more RNS in the new year that explain how they intend to build the wells on PAD 1 of licence 67 and the fracking programme on licence 61 shows results and put financing in place for the capex.
Yes Simon undervalued with only 19% of shares in free float board and Tr1 investors holding the rest tight. This will rerate over the winter as production increases. Its buy now and hold imo
And M&L have used a 10% discount factor in their NPV calculations. I'd be interested to know what crude price they used. Probably an average for the previous 12 months versus the point in time.
Forgive me if I'm off base here but my understanding is that M&L have discounted the development plans for License 67 and 61 and come up with a US$316m valuation. This is essentially an enterprise valuation for PTR's PROVED reserves. So take off the corporate debt (nothing as its nearly all going to be converted at 4p ish) and you should end up with a reasonably Texan view of market cap which currently stands at £32.15m (x 1.34 = US$43.1m). So thats a 7.3 bagger, there for the taking. That equates to about 30p share price plus all the possible romance that may be out there.
Trouble is I can't seem to buy any stock at the current prices. No wonder i suppose.
15% up off only 6 trades but not showing on LSE top riser board.
Very encouraging, an open goal for top-ups really on the back of the AGM update. This is one of the better risk/ reward opportunities on AIM at the moment.
As believed and now confirmed. Excellent and comprehensive picture of progress and expectation from a formidable and competent team. Well worth the wait.
Hopefully the company will get the rerating it deserves after the good work put in by the management. Hoping for a good start today.
what a superb update from a company with a market cap of £32m
I found the presentation at the AGM very interesting and David Sturt did an excellent job of explaining the plans ahead. Licence 61 looks as though with the fracking programme planned and possible future fracking could finally start to produce better cash flow especially with the reduced costs and current Oil price I would also expect the development of Emtorskaya to be more efficient than other drilling on the licence. Licence 67 could be a huge game changer for the future of Petroneft and the planned production initially planned from platform one with 7 horizontal wells as well as vertical wells wells which could mean in excess of 10000 BOPD being produced. The operational costs on licence 67 are extremely low and they can also take advantage of being able to build on the site during the off peak system thus reducing the capital expenditure required to bring it in to production. The first platform will also take more wells (up to 24) which again should mean more oil production which should surely could be financed from internal cash flow. The prospect of within 5 years of three platforms and up to 53 producing wells means this is indeed a valuable asset which in the medium term could be producing in excess of 40000 BOPD. Hopefully the new reserves report which is due this week will show there is plenty of oil to extract
Agree Skin.. The next 6 months is going to be very interesting this is way under valued and with the board / TR1 investors holding 81% of the stock this will rise quickly on the right news. Its going unnoticed by many at the moment ..
Would be interested to hear other holders views but just caught up with the AGM presentation from David and its hard not to come away from it positively. Big debt reduction, lending on terms at a premium to current price, increased production rates and stability...resource report due early part of this week. Interestingly at the Q&A at the end of proceedings they expressed an openness to possible take over too...certainly wouldn't rule it out given the 2021 turnaround. You'd expect Oil India whom they share one of the licenses with or Gazprom could snap them up...certainly going to be an eventful Q1/ Q2 22' at PTR.
or maybe not. 1 share sell this morning
Good iuck to u phil
Phil,
it might drop further under 3P without positive operation news from PTR plus the macro economics.
but i agree it's the good time to buy in volume.
IMHR, DYOR.
Good Luck Tom, I am buying more at these prices.
Bailed here at 3.80 at a small loss,after the JKX fiasco I don't need this
WTF . . . not even a mention of reserve update???
My guess is that the report may be linked to having a new director on board and something else may be happening,just a hunch
Yes you have already stated that and for balance it could be good news.I understand the delay was caused by covid according to a poster who e mailed the co,very frustrating though I must admit
They must have the update complete, my feeling is that it is not as good as they had hoped hence the delay in disclosing it. I hope that I am wrong but it is well overdue at this stage!
We are now 5 weeks late for the news we are waiting for,hope they add on production figures as well
Love these types of shares that are tightly held with significant news on its way and big buys coming in with only those that have no clue selling. This will take off one day soon and those that have held for many years imo will get back the investment but for those investing now its multi bag opportunity. DYOR