- farm out - anytime now with large international firm (could be gazprom??) - now in final stage and almost complete (see RNS in Jan 2014 below).
-refinancing aiming to be completed in Q1 (could be next mth)
-increased production update (now already 2300bopd)
mc now only 40m with around 600m no of shares (small compared to near 2bn most companies in AIM)
IIs is accumulating with chunky buys... can easily double digit sp on farm out news (see RNSs)
broker target 33p (if to include reserve will be much higher than this)
see chart, previously 60p plus so, now on recovering potentially near or higher than the all time high of 60p
Farm out process
Significant progress has been made over the last month with a large international oil and gas company on the planned farm-out of Licence 61. While the terms are currently subject to confidentiality clauses, commercial negotiations are now substantially complete and it is hoped to finalise this transaction during the first quarter of 2014 following the completion of final confirmatory due diligence, which is currently in progress. Discussions with a number of other parties regarding re-financing and farmout are also ongoing but are less advanced than this proposal.
why are there sellers of this stock at this stage of the long awaited bounce?????
is it short term traders knocking out quick turns in the stock; a drip feed from a large holder clearing a portfolio for tax year in order to offset profits; Natlata not picking up the stock at this point trying to get it cheaper as its average appears to be just below 5 p.
Demand must eventually cause a dry up of stock availability and cause the stock to find its true level, which should be a noticeable improvement above today's level where sellers dominate.
As of 22nd January 2014 Natlata holds 16.025% of Petroneft - starting with a a buy on 19 September last year and no one knowing who they are ??? the management must know who they are by now, or the market does.
My opinion to investors = HOLD ON do not SELL at this stage, thus pressure the market by supply and demand to place the stock price at a realistic level in the circumstances.
as i posted earlier on ADVFN site "i think NATALYA have gotten too many of these too cheaply already" about time they had to pay for them - a lot of pi's disillusioned with PTR and have sold out not surprised - i'm eternal optomist i think we just may have turned the corner - agree 12/15p would do me nicely , GLA holders - looks like thos who have hung though may well be rewarded - davy are house broker so anything they say needs to be taken with a pinch of salt, they have been quoting 33 p for years - so they were bound to get it right at some point (long way to go) - a bit like moody's and other rating agencies - stable doors and horses bolting - hindsighht is wonderful ( told us the banks / countries were bust after dogs in the street knew - who listens to these jokers anymore - they have about a much foresight as my a... rant over
It will be interesting to see if a gradual rise in share price increases the rate of purchase by Natlata. To date they have increased their holding without provoking any significant increase, although this may start to change.
Have bought another 8 million shares since 5th December, now hold 13.77%. Still no idea who they are but likely to have knowledge of impending farm out/refinancing deals as this size of acquisition must be based on something.
Agree with tvduijn that there are inconsistencies in the story but the current message appears quite positive. Surprising that there hasn't been more reaction today as one could realistically expect a sginficant re-rating of shares if reserves have anything like the value attributed by Davey and others. These shares were 70p not that long ago!! Seems not long to wait before more news.
Last time they were closest to refinancing and now they are closest to a farmout. A bit odd but "an international oil company" sounds good. Now that I think about it, not to strange because it's probably a fairly cheap way to boost 2P numbers for IOC's. Our 2P's are really high vs our valution (reasons are obvious) and the potential for more through exploration an appraisal is good as well.
Let's hope for a significant financial boost and lot's of drilling
agreed with previous posters " all a bit cloke and dagger" - but i am upbeat about this - of course people are privy to details that you and I are unaware of - i assume that re finance is now only a matter of dotting i's adn crossing t's - good to get some drilling going again hopefully pull in some good drill results and i presume they are using equipment and supplies that (already paid for) and were lying idyll around the place - cold weather and winter roads enable better movement adn maybe come spring we could have some better news ... we live in hope ...gla holders
Agreed tv. The longer we wait for updates and real information the more uneasy I become. How much corporate governance is being exercised over the business? Why, in the light of published information would you defer payment unless as a non-exec director, you are privy to information small shareholders are not?
Natlata Partners now hold 11.86%, up from 6.03% in October. Who are they? Can't find any info. Why are they buying in to the Company in such a big way?? Always questions, never any answers. Still nothing on farm in, refinancing or similar.
good day for me this up 9.68% and horizonte up 8.5% also - hope shorters of both get burned - but something afoot - take over bid / new finance secured / joint venture farm in on Linon field or much improved numbers on BOPD take your pick - but someone is privy to something the rest of us are unaware off.
I am wondering if the bid interest in similar Russian producer Exillion energy (which has put itself up for sale) isn't rubbing off here - not so much as bid rumours but as as possible partners - farm in?
If so - any final news there of a takeover premium may further rub off here.
You will need to use Google translate to translate from Russian.
According to Russian press there are 12 interested parties, 3 of which are the big Russian Oil companies.
This should mean it goes to auction.
If a single party only were to bid the price could be anywhere from 280p to 450p in my view - and even at 450p its cheap. Arip sold shares last time at 400p so 400p should be a level at which he would sell, if he is not the buyer.
If it goes to Auction then higher prices are possible as companies bid against each others bids. If it goes to auction then anything up to 800p is possible.
So fingers crossed this goes to auction. Should be all clear by end of December.
"leaky old ship"me hartys - you and i maybe in the dark (absence of facts) - but pretty sure that isn't universally the case -- news on the way i presume - farmm-in of line field - refinance of debt (get marq off our backs ) - or takeover approach - pick anyone one of those -i am none the wise either - just saw the spike actually - so will sit and wait - see what happens 1st thing tomorrow am -good luck to all holder - i really hope this is the satrt of the next chapter for petroneft for all those who are curently underwater on this one - like myself -gla holder - i see the lunatics have taken over the asylum on the ADVFN board -
In the absence of any hard facts regarding farm ins or refinancing its difficult to know if this is a sustained improvement or a pump and dump. I am very much hoping for the former but as always with PTR facts are hard to come by.
is it not DAVY valued PTR around 33p? with farm out news hopefully by end of the year, and re-financing by end of the year too. not to mention oil price is much higher and we are producing 2500 (not too high but still profitable).
and Natlata Partners Limited increased their stake means something is coming here
we could see double digit sp by end of the year imho
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