Member Info for Kev4

Still around, Bob. Tbh, I expected the sp to drop to around 4.5/4.6 until news arrived and then either plummet altogether if the news is bad or go up considerably if the news is good. It's all a gamble a way, isn't it? I was happy to wait until mid-September for news but you and Granto have almost persuaded me that we should be getting more regular updates! Lol. With regard to my absence I gathered from comments you and Granto made that duster567 was being nasty again (I have him filtered since his third or fourth post). I really don't have time for rampers or bitter de-rampers. The latter are usually just moaners who lost money and have zero understanding of the markets. Anyway, I don't know an awful lot myself but I'm confident about PTR whilst never losing sight of the disappointments of the past and the shocking unreliability of the bod. As I said before it's all subjective and depends what price you got in at. I got in at 4c (I think that's around 3.4p) so unless the news is truly awful I should at least break even by selling up rapid at a bad RNS. I'm less than a year in so I can understand people with far bigger averages being p*ssed off. I sincerely hope we all do well but nothing would surprise me with any share at this stage! We can only hope.

SirBob, this excerpt is from the July 4th RNS: "Post Completion Activities We expect to commence drilling at Tungolskoye later this month. The T-5 well will be the first horizontal well drilled by the Company and is expected to take approximately 60 days to drill. Assuming a successful result at T-5 we plan to bring the Tungolskoye into year-round production in 2015. Following the T-5 well, up to five additional production wells will be drilled at Arbuzovskoye Pad 1 where drilling was suspended in February 2013. There are also plans in place to acquire 1,000 km of 2D seismic across the large Sibkrayevskoye oil field and Emtorskaya prospect commencing later in 2014. Current production has slowly declined to 2,100 bopd from existing wells. Dennis Francis, Chief Executive Officer of PetroNeft Resources plc, commented: "I'm delighted that we have now completed the Licence 61 Farmout fully clearing all of our debt and leaving us with surplus cash and access to significant further funds to invest in growing the Company.......... ...........;We have a planned multi-well drilling programme and will re-commence drilling at Licence 61 shortly. I look forward to updating shareholders with the results of this exciting programme over the coming months." Now maybe the bod have lessened my expectations of just how often a company should update shareholders but those statements above are fine by me. The last line in particular states they look forward to updating shareholders with the RESULTS of this exciting...etcetera. As I said earlier any/all updates would be welcome and may well arrive but I'll be happy with a mid-September RNS. P.S. Not being pedantic here but I referred to two other POSTERS on others boards, not other boards in general. From what I'm reading both of them are being chastised for being impatient! Lol. On that subject I think there are 3 categories of shareholder weariness with the board: the longtermers who have been treated with utter disrespect by the bod over a sustained period of years, shareholders like me (11 months in PTR) frustrated by the bods lack of courtesy but placated by farm-out, and the newbie shareholders who must be licking their lips! Lol.

Roger. Yep, there'll have to be an RNS if the investor goes over a certain percentage which this guy has. It'll probably be in the name of some holding company. On another subject I see two posters (only two) on other boards getting upset because there's been no RNS about the T5 drill which is under way. I've been as critical as anyone about the board but in this case they clearly stated in the farm-out RNS of July 4th that drilling would commence shortly with results expected in 60 days. Wtf do these posters want? A 'hello, we're doing what we said we'd do' RNS! I have around15th September ear-marked as a potential time for results. Any unnecessary update before that would be fine but for god's sake give them a chance. If results aren't forthcoming around that time WITH NO EXPLANATION as to why then we can say nothing has changed with the bod. India Oil will probably not stand for that anyway. All is well right now. A bit of marketing from the bod wouldn't go amiss.

http://www.independent.ie/business/irish/major-investor-in-petroneft-sells-6pc-holding-in-company-30454555.html

That was from last Friday, Roger. Definite buy.

Here's the line from the 4th of July RNS: "We expect to commence drilling at Tungolskoye later this month. The T-5 well will be the first horizontal well drilled by the Company and is expected to take approximately 60 days to drill. Assuming a successful result at T-5 we plan to bring the Tungolskoye into year-round production in 2015." There's more drilling planned for the rest of the year too.

As far as I know, SirBob, the drilling began last week. According to the farm-out RNS results are expected in 60 days. I have earmarked 15th September for when they're due but you know Petroneft! They have a long history of being late with information. I'm definitely holding until the results anyway.

Just noticed the delayed 10million buy trade. That wasn't me either!!

SirBob, I wish I held even the .8, never mind the 42m, lol

And the sp stays the same? I don't get that at all.

It's odd alright although I recall other companies who announced farm-outs (admittedly none as good as Petroneft's) . The big spenders seem to wait until closer to the drill results because they know smaller investors will sell up thus making the sp drop. ADVFN has some good discussion on it (obviously leaving aside the poor fool who thought PTR were about to dilute shares despite having no debt and plenty of money for the future!!!). Like you I'm in for the long term but it would be nice to see upward movement.

That's what I can't understand. Notwithstanding the board's poor track record this share will increase when the drilling is done (based on the certainty of oil existing there). How much it increases is down to the volume of oil existing. I notice on other oilies that the real speculation begins around a month before results are due and intensifies as each week as the results get closer. By that logic things should start hotting up around this time next month. However, it's Petroneft so god knows what'll happen!!

Indeed. It's all about waiting now. The drilling should be just about starting. They said they HOPE to have results in about 60 days.

'Knicks in a twist'. LOL. I seriously doubt my pulse rate even remotely increased reading your ill-informed waffle. If you don't understand the difference between authorised and issued shares then I can see how you're losing so much money investing in shares. In fact, it would be bad business practice NOT to get approval for authorised shares and it's very common. We were advised of this in the Annual Report and nobody batted an eye-lid until your equally ill-informed friend on ADVFN brought this up. I absolutely guarantee you that if the same source had wrongly discovered what he thought was great news you wouldn't have bothered telling us. Why is that? Any of us who have done our own research know exactly what the bod of PTR has been like (not good enough especially when it comes to keeping shareholders informed about issues in a timely manner) and other things too but if you're set on finding fault in them blame them for things they are doing wrong and not things they are actually doing right.

Jeez. I saw that on ADVFN but didn't think anyone could possibly confuse upping the authorised share capital with a dilution! It appears duster did. Then again why on earth would a company fully funded well into the future even contemplate a share dilution.

Duster, I strongly suggest you give the name of that board so people can see if whomever posted that has a reliable source. If there's no source forthcoming I will deem it to be mischief - whatever about what others choose to think. You've contributed three posts in a few days (your only three posts). One of them was simply a full stop so we'll consider that an error rather than a case of stupidity. Another was a rant without any substance and your latest is completely sourceless. What's your agenda? Burned much?

Last paragraph should read: "As I said it's all perspective although I've NEVER known an investor who would not consider a 100% sp rise as 'serious'. Good luck to you."

It's all perspective, duster. I got in at 4c (3.3p or so). At 6.5p I've doubled my money. I consider Davys forecast as a very serious SP rise. They mentioned 13.3p (I think). That would be around 17/18c representing an over 400% profit. Wex boy (who seems to be right most of the time - not all but most - and who s not a broker but a blogger) says over 35p, I'll believe that when I see it. Goodbody are very upbeat too. Can't remember the others - may have seen them on other websites but every single one of them predicted an sp rise. If you average say 30p, a rise to 11/12p whilst welcome would not be good enough for you obviously. Nevertheless, regardless of what price you average a 100% increase to 12p is a serious sp 'rise'. As I said it's all perspective although I've known an investor who would not consider a 100% sp rise as 'serious'. Good luck to you.

Hi Roger. The board is always quiet when the sp is either going down or temporarily settled like it appears to be now. As soon as the sp rises the posters will be back to answer any questions. I don't have the knowledge to!

True, Granto, but look at the effect it's having on the sp! I'm in for the long-term regardless but I wonder what PTR has to do to have a sustained sp increase - it seems quite literally that striking oil is the answer to that!