Member Info for Kev4

Wtf is going on with this share? Debt-free and hugely promising results from drilling due in two months. Finances sorted for the foreseeable future. Brokers unanimous in forecasting serious sp increases and still the sp goes down. I cannot understand why this sp isn't rising. Notwithstanding the Ukraine situation there must be things going on we simply don't know about. Very frustrating.

4th of July may well be a date Petroneft shareholders will remember into the future. It looks like our Independence Day. I suppose the really big day could be the day the T-5 results come out. This is a good time to be invested in Petroneft

If that was a sell (it could have been a negotiated buy) one would expect the sp to drop but it stayed at +.77% with an asking price of 6.8p? If that's right this share is going to go up on the slightest buy. Weird stuff.

"Valuation thoughts Obviously, the farm-in leads to a reduction in the P2 reserves attributable to Petroneft (50% of 2P 116m bls on Licence 61). However, the debt reduction and the freedom to pursue the other targets in the licence provide the platform to recover these reserves. On a straight numbers basis, the farm-in suggests a value of 5.6p per share for Petroneft. However, we suspect that the main weight of the consideration was based on the existing fields given the general aversion to paying for exploration and upside at present. Our valuation of Petroneft’s producing assets is 4.7p per share with an additional 5p per share for the development opportunities (several substantial fields). The net financial benefit of the deal adds another 1.6p per share, bringing our total core value to 11.3p per share. For the brave, exploration can be valued at another 2.9p per share. Regardless of the actual numbers, however, the Oil India deal provides a platform for a second pass at the West Siberian licences."

Granto, the fx issue is beyond my knowledge but if Goodbody's say the results are slightly better than they forecast that fx business must have been factored in without a comment from anyone. Other than a poster on another site I haven't seen any concern expressed at the rates. I could be wrong and they were extortionate. Anyway, onwards and upwards, hopefully. Gla.

Yes lord. It was expected though. I think the sp will get another little hit when the money is in the bank accounts of MacQuarie, Arawak and Petroneft! Investors are usually very cautious by nature.

Here's some details of the farmout: Highlights · Total investment by OIL of up to US$ 85 million consisting of: · US$ 35 million upfront cash payment · US$ 45 million of exploration and development expenditure on Licence 61 · US$ 5 million performance bonus · PetroNeft to remain operator of Licence 61 · Subject to regulatory and shareholder approvals with completion expected around end-May 2014 · Up to six well drilling campaign to start on completion of farmout

Regulatory approval is complete now. Things are looking up!

FY13 results slightly better than expected: "PetroNeft FY13 broadly in-line, final farm-down approval pending PetroNeft released FY13 results on Friday morning, which while broadly in line with our expectations were slightly better in terms of net debt. Overshadowing the results, however, is a pending conclusion to the agreed farm-down with Oil India (OIL), a process that awaits Russian regulatory approval. Conclusion, will kick-start drilling activity initially, with the first horizontal well to be drilled by PetroNeft on the Tungolskoye field. Total investment by OIL (up to US$85m) consists of: (i) a $35m upfront cash payment; (ii) $45m of exploration and development expenditure on Licence 61; and (iii) a $5m performance bonus, contingent upon average production from the Sibkrayevskoye field reaching 7,500 bopd within the next five years. In terms of the outcome for 2013 FY13, revenue of $38.7m compared to our forecast of $37.8m with the net loss for the year amounting to $9.2m v a loss of $10.6m forecast. Despite the wider loss, net debt recorded at year-end was $27.8m v $30.8m forecast. On completion of the farm-down will see PetroNeft will be debt free (albeit having ceded 50% of Licence 61) and on a more secure financial footing. The driving force thereafter will be the ability of the company to increase production above the 2,300 bopd outlined at year-end."

Cheers, HEMS.

I'm not seeing the RNS on this website. I read the link to ADVFN. Wonder why it isn't here or am I missing something? On another subject, I also wonder what the delay is with the finalisation of the regulatory process. Russian bureaucracy? We have some friends in the Tomsk region and we know Natlata have too!

Still no reply. How utterly predictable. Unless they're negotiating something really big, I'll never forgive them. (Unless I make more money out of PTR - then they'll be the bestest board in the whole wide world). Lol.

I have no desire to upset investors but you may be stunned to know I've received no reply to my contact of Thursday last. In fairness, only two working days have passed. Nevertheless, I wait with bated breath for my imminent reply *cough*.

I sent this message to Petroneft via their own contact link on their website. I'll post their reply (if I get one): "Hi, When will be getting an update on the regulatory process for the farm-out? I am one of numerous shareholders disappointed that yet again we are left waiting for overdue information. I, and judging by comments posted on several share discussion boards, many others, thought the days of us being left in the dark were over when the board was supported at the GM. Regards, Kevin J."

The regulatory process was supposed to be completed by now. I would have thought that that would require an RNS. I hope the board are not already going back to their old ways of always being late with news. It is incredibly frustrating for shareholders when we are not kept updated on developments. I thought after the Natlata scare the board might have learned a thing or two.

Hopefully! The ones I found specifically deal with ag and environmental solutions but they seem more involved in Ireland than worldwide. Kinda rushing here so we'll find out more later, no doubt.

http://www.ceres.ie . An environmental and agricultural consultancy group.

Ceres International? Time for some research!

Rubber stamp.

Likewise. Quite disappointed. Maybe when the regulatory process is over and the farmout is finalised...