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thanks for that….I am pretty sure oil was $45 in st petersburg around dec. less now for sure
Granto, in Steelwatch's useful response he refers to 2013/14 which is the latest we have from Annual Reports. I did a bit more digging later last night and came across this: http://www.argusmedia.com/~/media/F3AEA4587EFE4F4FA8C0AE2515681C78.ashx This shows that estimating domestic oil prices is extremely complicated. Maybe that's why none of us has even attempted to do it. It's further complicated by the sanctions (some aspects are good for PTR, others are bad) and all the related economic issues. I think I'll wait for next years Annual Report. LOL.
Sorry Granto, I intended to study the financial reports in more details and your question was a good impetus for me to do that. However, Steelwatch beat me to it!
I am not sure what we are selling the oil for, but I gather it is in the region of $40 a barrel. the big question is ….what is the net profit on that barrel. lots of talk on BBs , but nobody every seems to want to tackle that one. …anyone. I have a figure but you first.
And the 45 million of investment is being paid by OIL as part of the buy in. This is so that it has the same investment in World Ace as Petroneft. Both companies will have loans outstanding from World Ace of 45 Million then. Petroneft as stated before is debt free now following the money paid to them by World Ace after the OIL share purchase to give 50/50 holding each. This money was used to repay Arawak and Macquarie loans. The capital expenditure has meant the pipeline is complete and future wells can be linked into it. This means most future capital expenditure will be on getting wells online and upping production.
Petroneft repaid its entire debt last year .
So as I said the price of oil does impact here - as does the weakness of the Ruble and the fall in production.. What I have noticed is some clever loan restructuring that has kept interest of the books but this interest is due to resume sometime in 2016 - this may also impact the company's balance sheet.. A very ambitious work program costing $45m with financial assets ie loans and receivables standing at $46,398,502 they are cutting thing a wee bit close - not much wriggle room there.. Those may give a few clues as to why the SP is as you put it "a bit disappointing" MR
Correction: I posted "should rise considerably", not "somewhat". I still think that Ptr should rise considerably from 4.18 by year end. I'd like to see 5.7p by then but with Ptr you just never know. Despite several good RNSs this year (notwithstanding the PoO, potential Grexit, the Russia-Ukraine situation and two companies gobbling up millions of shares) I'm still a bit disappointed at the sp. (There's more of that damn honesty).
You don't do the 'dog of a share' comment because it isn't a dog of a share. FYI, I also think the price of oil has hit the sp somewhat but mainly because sentiment is very powerful in the markets. Most posters here and on proper discussion boards disagree with me. Here's me on March 31st on this bb: "Yep Granto, I hear you. But sentiment seems to have a bigger influence than I thought and the price of oil has hit us hard (although not as hard as most other oil companies). The economy being poor and the Greek situation hasn't helped either. Hopefully, as the months go by these things will improve and with a decent stream of very good RNSs like the last few the sp should rise somewhat." The sp that day was 4.18p.
One thing before I go - the PoO has an affect here as it does with any producer - in a closed market or not it's just plain economics As you see I don't do the "dog of a share" comment ! MR
You're a very disingenuous person, FQ320MR. Here's my reply which I posted on the BZM bb as you posted the same thing there: "You left out the date I posted that, spoofer. It was AFTER you attacked this (Ptr bb) bb for no other reason than to spite me because you didn't like my honesty on BZM. Nothing more, nothing less." Having started this pettiness you seem determined to keep it up despite my suggesting we both stop as it is not fair on others. As I also pointed out to you on the BZM bb if you think LSE is where I indulge in meaningful discussions on business, you are even more deluded than I already knew. Btw, if you're going to manipulate the truth try doing it with a little more aplomb.
Of a post you left on BZM -- Not quite as Honorable as you would have some believe that doesn't really matter to BZM as their Chinese backers are getting fed up with their nonsense and are looking for their money back. The only reason BZM are still at the pathetic price of .775p is because about 4/5ths of that is institutional investors . The rest are just PIs who have nothing to lose by hanging on. Status Quo MR
Absolutely, there's a very real chance the company could go bust - probably as early as next week. Sell, sell, sell. FQ320MR, I chose not to post on BZM as I don't think this kind of nonsense is fair on others. Even though I have been posting there for months and you decided to be spiteful by posting negative stuff here only a few days ago when you clearly have no interest in Petroneft. I will post this on BZM right now too. I suggest we go back to the status quo i.e. I post my usual honesty, be it good or bad, on BZM as I always have done, and you stay away from Petroneft as you have no interest here other than spiting me. Up to you.
Been doing a wee bit of reading as Kev advised me to do - see Losses for the company exceeded $8m with Revenue including revenues from oil sales for the period to 3 July 2014 of US$17.5 million and income as operator of both licences of US$1.7 million. I see the company sighted lower production - weakening in the Ruble and lower oil prices as the reason for the losses - I'm sure I did mention oil price falling as a problem here - whether it's external or not it's a bench mark figure ! I also see the caveat that it's hard to calculate a true accounts due to the complex disposal of assets - who knows the real tale here.. With World Ace's looses now being incorporated into PTR's accounts there is added liability.. Not as rosy as it could be Kev but I guess you knew that already MR
thanks for all that….I emailed. I'll let you know.
Have you tried phoning? Best to build up some friendly rapport first and then ask if they mind you emailing. /I'll send you another message.
I emailed the company asking them about the L10 well. I got no reply. and they wonder why investors get annoyed, you would get annoyed too. actually PTR have never once responded to an email from me. it is management fatigue and arrogance, the ' i've more important things to do'. or 'another nuisance email' .....these type of managers never last long, mark my words change is coming.
for 2p you will need a machine gun , i don't think so.
re: our discussion - check your personal messages on that site (next to logout button top left)
You are trying to de ramp a stock that has a volume most days of less than a 100k, not very clever are you MR. Whilst two investment houses battle for shares, you couldn't make it up. Whilst the sp hasn't dropped below 4p since January caused by Ukraine foray and oil price slump . For 2p I reckon you need world war 3 or Qatar to win the World Cup
Further proof you're a liar. Not only did you read every single word (and again, everyone knows it including you) you replied on your disaster share bb. Why lie again and again on two different bbs? I haven't even gone near your main failure investment bb (he's losing even more on another share besides the struggling BZM) and I never would. A poster earlier made a very amusing comment about FQ320MR's posts. He said they should come with a 'public wealth warning'. Lol.
I never read post LOL it smacks of the council estate sorry : )) MR
it's hard to say , I simply don't know and I have searched . At one time I heard $45 a barrel mentioned . I do know we are drilling for more oil so clearly today's price is profitable for us I think it's safe to assume we can manage $10 a barrel profit . Net! So let's say we get production up to 6,000 a day this time next year . $60,000 a day profits or $21,900,000 a year , of course only 50% of that is ours - it's still $11,000,000 profit annually and I have not even started counting Sib field or license 67. Our profit here could be $20m A year within 4 years .... DYOR
Have I ever wondered why it's never reached the heights I expected? Lol. I've almost doubled my money here already and that has exceeded my hopes. With the jv and increased bopd I suppose it will go up and that'd be great. If it doesn't and (observe the honesty) it may well not, so be it. Be sure of one thing though, no-one here likes rampers. In fact, while you're researching me, look back over the past few months of this bb. Unlike your 'research' on Ptr in which you hoped to find negativity but merely highlighted one of Ptr's big advantages, I suggest you do the bb research properly. You'll find people, including me, telling posters that rampers are not welcome here. You'll even see a chat in which another poster jokingly advises me that maybe we DO need rampers. I dare anyone to try ramping this share. Unlike you supporting rampers at struggling BZM, they'll get short shrift here. As for your 2p comments, Im not sure why you're persisting with that when every single person reading your posts today know you're lying. Keep it up and you'll see just how little I care about lse bbs.