Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thank you very much
Is this share already Ex-Dividend?
Why is this going up?
Would be good to get an update alright. Nothing really to expect other than the point that the shareprice is probably close to all time low
Something appears to be happening here. Some trades going through on a regular basis. Not sure but could be an indicator of things to come soon. Any ideas guys?
It is an uncrossing trade
Getting nervous with the significant upmove over the past few weeks (SP has not been at this level for the past few years)
What is going on here? Share price is going up significantly for very small trades?
Yes been quite some time since the last update.
I agree that the shareholders are not sure what they want. For me, the best scenario would be that Natlata are on the table which will make the current bod nervous and hence perform better and keep shareholders informed. I would not like Natlata taking over the company, as in my view, shareholders will loose out and Natlata will take the company Private and then may be sell the balance 50% stake to Oil India as well.
Excellent analysts Kev4. Appreciate you sharing your views.
Is it something we should be worried about that these 2 are the biggest individual shareholders and own 35% voting rights between them :(
Kev4, a couple of points in relation to your reply. All the points about PTR internal status etc are from past news etc which is old and facts may have changed since. I am not saying I am not aware of these all I am saying is I do not know the current status. I am saying I do not know what is the Macquarie outstanding loan amount, whether ptr has been making monthly repayments per schedule, etc. Do you know this? or can you get this informaiton from somewhere ? In relation to the deal with OIL, they may have their reasons for putting in this deal. All we are doing is making assumptions of what they would have considered. Do we really know or have we been told that these are the criteria considered by OIL in making the offer? PS. Do not take this as a personal attack or anything. I think it is just a difference in opinion between the two of us. I am a long term share holder in this and hence so frustrated with the BoD and their crap communications
They keep calling "Macquarie Debt" but do not mention the amount outstanding, whether they have been making regular payments or not, etc. Just useless high level information without any details. The more communications etc I see from this bod the more I am inclined to give my vote to Natlata. Still not very sure what I will do on the voting date but would be interested in hearing what they have to say in the EGM
I probab differ that this is very good read. The only new thing they have mentioned in 16 pages is that US$45m investment by OIL is not dependent on investment from PTR. For me, honestly this is the same kind of crap the cfo and board offer, doing a copy paste job giving the same information multiple times in the same document rather than providing any meaty details of the deal. not that I was very hopeful from the current bod, but now they look like fully useless bunch to me to be honest. please make your own research and judgement.
Hi Kiev4 I am not saying that I am with Natlata or with the current BoD as I have not yet made up my mind. but if you see there is a point that there is no change in the management in the next 3 years if the deal is signed which would mean that the current BoD will be in office for atleast 3 years irrespective of whether they perform or not. They have invested more than US$100m and all they have to show for is the current production level. A lot of the reserves they announce as P1 or P2 reserves were known or pretty certain which came along with the license. So not really sure what the BoD have achieved. You may be right that it is better to choose lesser of the two evils and go with the current BoD as Natlata have done a similar take over deal, etc with another Russian oil company and the minority share holders have brought a case against them which is pending.
Could not agree more. let us hope that we get more clarity on the terms including conditions attached to the investment in exploration. Further, does not look very likely that they will get the US$5m which is conditional on one field producing 7,500 barrels in 5 years time. I will be really shocked if the curent bod ever achieve that level of production. if they do, then we would be talking atleast £2 per share or even significantly more.
Natlata has raised some very good points in relation to the deal including items like no change in the board, etc. Also good questions on corporate governance from Directors on trying to get shareholders to vote on the transaction prior to answering Natlata's questions. http://www.value4petroneft.com/news/natlata-questions-details-of-petroneft-farm-out-deal/
ChezzyLee I would be hopeful. However, I would see your point as well since TBNG had their equipment on the oil field for the past few months not generating any revenue for them. Now they have agreed to commence work with deferred payment option. What is more interesting to me is that they have started working on drilling for new prospect rather than production well.... This could be since exploration wells cost significantly higher capital then production wells, so works in best interest of TBNG, not sure how it helps PetroNeft shareholders...............
I agree on your comments below. Would just like to bring to your attention that he company doing the drilling is owned by one of the big shareholders and directors on the board. The director has, subsequently transferred this ownership to his son to avoid conflicts but if you read the related party note disclosure in annual report you would know what I am talking about.