RE: hit bottom29 Jan 2016 09:42
I'm not sure about hitting bottom yet, jeffry. Even though PTR's oil is sold in Russia the PoO affects sentiment hugely - even companies that have no oil interests are feeling it worldwide. PTR seems to be fslling and rising with the PoO. I think the question is whether oil has hit rock bottom or not. That remains to be seen although by all accounts the PoO should recover somewhat later in the year anyway.
Regardless, Natlata are now buying PTR shares for 4 years now (or is it longer) and between them and GI hold 40% of the company. After Natlata's failed coup in 2014 they have still continued to increase their holding. So, with companies buying huge chunks of shares, Petroneft being debt-free (for now), the PoO set to settle by Q4, the makeovers from December and Sib's new largely incresed reserves, Petroneft is looking very good. I'm on a free ride but I might top up as time goes by. I'll see.