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as always not entirely easy to follow PTR RNSs even when you know the company very well. However, in a nutshell the extending of the north east of the license area and increasing the reserve is the highlight for me. The Hz well increase is really a huge success and above manes expectations, not they switched the 300m pipe to a 1000m one. I wish there was more clarity on well numbers, seems to change slightly every time with addition digits and letters on existing wells originally called something different. Slightly disappointing the two new wells produced no oil but they were on the edge anyway so not completely a shock. The Tung Hz wells can now commence and thats a 2km radial sweep from the crest. Overall the production remains at 2400 despite the Hz well boost. no mention or news of the Arb wells, or the results from license 67 3D seismic. seems they are pleased most by the Hz well, and hey I sort of concur the Tung pad can deliver 3000 bopd easy now…..finally we are rolling as intended. but make not mistake the cream is in the untapped north eastern part of the license

100% thats what i think.

imagine these two companies are not linked at all, and they now find themselves in a race for control. Natlata will have to get buying if thats the case. Interesting the CFO contacted them to get their intentions, not sure he ever did that with Natlata, I wonder what 'other' questions he asked ….. are you linked in any way was one of them for sure.

anyone think the timing of the rns was a bit strange

the new investment houses seem to add steady as they go, they add 50,000,000 shares in jig time and you never really see wild buys on the market.

I think the Russians would not have the firepower for a full takeover here. I think the will align as a voting pact and take it that way.

I can't advise to buy or not buy. It does have an 'old school' decent but awfully old fashioned BoD. this has its benefits but mostly drives us all mad here. The mix of Irish sincerity and Russian hunger might actually be a winner here.

this has no impact here. Firstly it is a western company, and secondly it does not export, baker hughes did the drill only a few months ago so that says it all...

Happy to help in any way. The gist of it is this. PTR was a company that bit of more than it could chew since its start up and for that reason struggled along and never managed to complete the complex ;jigsaw ' of its oil fields license in Siberia. Despite this over $100m was invested in infrastructure so nothing was really lost except time and the initial investment people made as the SP dropped. Last summer 12 months ago at long last they found a JV parent called Oil India. They paid $35m in cash and $45m in future cash investment for a 50% stake in it's main license. Remember OIl was sky high at the time. The $35m was used to pay off all debt and leave the company in a healthy position with producing oil wells. since then the two JV partners have pushed ahead with production wells and seismic studies and further infrastructure. progress has been steady,production costs are in russian currency so costs have been reduced against sales in dollars and the $45m cash horde the JV hold between them. The license is vast and the wells are normal for the region. just as things stabisise and the company primes itself for growth a potential hostile investor emerges. I happen to trust the man, but thats a personal assessment .

No directer has bought a share in 4 years, that is hard to believe.

Hi Kev, I have excellent contact with Natlata but I am reluctant to email or call them. don't see the point at the mo. I'll wait for the AGM. As I said before their previous position was a 'monitoring' one and I am guessing that has not altered too much. Certainly I know they had no issue with Oil India and welcomed them, with caution perhaps. Personally I think the pressure is good for the BoD who have to get moving and to be fair they have made reasonable progress lately. lack of information aside. I don't know the connection between the two, and in any case, It would be denied. No doubt they will vote together too, 38% of the company would win any vote with the usual non voters making up lots of votes. surely it would make sense to make a not hostile approach and take a seat or two or three on the BoD. They may take the chair soon enough, and from there a slow takeover. A delisting and transfer to Russia ? I doubt that, I think it is safer here. also if they ever want to sell it on, a London listed company will always be worth more than the same asset listed in RF. But a takeover is coming, as for Oil India, and their BoD rule changer, maybe the Russians may be friendlier than presented by PTR management and a deal could be done. At least the Russians invest !

General Invest now on the rise with an extra 2.5% stake. Natlata also added 1% this year. Thats just under £2m invested this year alone. "for capital gains and a part of a long term investment portfolio". Seems they want more shares but don't fancy a full takeover. The AGM will be interesting

the change of law there was the killer for me / just how are Ophir going to make money when the Govt has practically stolen the asset through taxes and royalties . I sold more last week . Holding 20% of my stock from 2 months back .

'when' they find the source area. they have nothing until then, but nice to find a vein. Note it doe s not say the strike ( length ) of the vein, or its depth. No enough for me, but delighted for the rise here

steelwatch, Yep that how I read it too, its a management fee for the operator, I expected one, but $1.2m ? is that for a Year ? for 6 months ? does Oil India also get a 'consultants fee' for watching over the project. It is good news for PTR.

revealed….opps. damn typos.

comprehensive report, but still a little confusing , took me a while to put the jigsaw together. $3m for License 67 seismic, our share of it. so that's $6m in 3D seismic. It will interesting to here more on this. I wonder will Oil India fancy a slice of the action there as well. another interesting highlight is we have $3m in cash at bank. Also and this I wonder ed at the time, and it was NOT reported in the OIl farming, PTR os receiving a management fee for the project. $1,.2m ….good lord why was never reveal before.

looks like the Government of Tanzania has just taken 85% of our assets , plus royalties . Worse , it's.85% of profits ! Plus 7.5% royalties . Leaves us with roughly 10% of the cake . I really dislike Tanzania !

It is extraordinary that Oil India have stated this on their website, true I know, but PTR its self have never made such a claim. Maybe they got tried of over promising in the past.

your assessment matches mine. Coal may not be their thing, but they saw a bargain, did DD , and said, lets take it…. profits immediately