This looks a very good bet? Mentioned in the share magazine.

As i said,their's a distressed seller and as such the market will take advantage.

5 million trade gone through,reported as a buy?

Tell him to cheer up...he's distressing me with his distress......I'm snapping these up on the drop...

I've increased my holding by 3 this morning.....come on PTR.....

As i thought BLUEGOLD the distressed seller, all 18,600,000 of their remaining stock for 11.6p,Yws 11.6p. Hopefully we can now ptrss on and get true value,so bring on the news.

Some strong trading signals,

24/01/12 10:06 16.95 5,771 O 16.5 17.0 Buy 1,171,788 195,275 390,740
24/01/12 10:00 16.84 100,000 O 16.5 17.0 Buy 1,166,017 195,275 390,740
24/01/12 09:44 16.84 29,691 O 16.5 17.0 Buy 1,066,017 195,275 390,740

Otkritie Brokerage House. Buy. Target 70p. Upside Potential 330.8%.

PetroNeft Resources is at the heart of both geographic and strategic sweet spots of the Russian oil sector. Its prolific assets portfolio(97mnbbls of 2P reserves and 317mnbbls of risked possible reserves and mean risked resources) in Russia’s Tomsk region in West Siberia offers visible production growth in an established hydrocarbon-bearing province with existing infrastructure. As a small-size oil producer, we believe PTR is the major beneficiary of the forthcoming MET breaks on small oil fields;and is also set to benefit from the 60/66 oil tax reform. An experienced management team, in combination with its fully-funded status, in our view make PTR one of the most attractive E&P stocks in the FSU. The recent downgrade of its 2011-2013 production targets and the ensuing 28% drop in its share price has created an attractive buying opportunity.
We initiate coverage of PTR with a BUY rating and target price of
GBp70/share.

Has this become another OTC?!

Hope not,we need a positive update,especially from the fraccing program,in the meantime just came across this.

Petroneft (PTR:LN): I own a 1.0% stake in PTR, and have recently written about it here. Petroneft’s in an enviable situation compared to most other resource stocks, with plenty of proved and probable reserves. This is the underlying basis for my valuation, but the market price illustrates how critical cashflow is with an asset based investment. Any value investor likes to pounce on a stock which trades at a large discount to asset value. This can be sometimes be a big mistake. Why?

Well, if the company involved is suffering from significant cash outflows, and has insufficient cash/debt to reach its expected cashflow positive inflection point, you’re probably going to see that share price hammered. There’s nothing the market hates worse than this kind of funding uncertainty, or the risk of actual company failure. And this is the problem – Petroneft has plenty of asset value, but is running out of cash/debt capacity. Problems with initial production have compounded this – these will be solved with time, brains and money, but the funding issue is unlikely to be solved without dilution for the shareholders.

Purely on an asset basis, I calculate Fair Value of about GBP 75p per share. If I assume a share placing large enough to fund 1 year of cash burn (302.6 mio shares @ say GBP 10.25p, a 35% discount, to bring in $49.1 mio), I come up with a diluted value of GBP 48p per share. Which is correct? Well, I’ve already pointed out the best solution (now that PTR’s missed the boat on a decent share price) – a sale/farm-out of reserves, or preferably resources. In fact, I don’t include resources in my valuation, so any resources sale (and they have 100s of million of boe) would improve my (higher) valuation due to cash received and retention of their reserves. It would also eliminate any near term funding issues, hopefully granting the room for a ramp-up in production. Therefore, I think an average of the two approaches is justified, which is a GBP 61p per share Fair Value, and a Potential Upside of 293%.


And the link for the above

http://wexboy.wordpress.com/2012/02/08/the-great-irish-share-valuation-project-iv/

And an interview with Denis Francis.

http://www.iii.co.uk/articles/21843/interview-petroneft-resources

Well you could ask these questions yourself if you were to attend davy's oil's and mining evening in dublin on feb 16th
as well as o'cathain kerr anderson of ormond, david bramhill of wessex,
plus circle oil,provedence res. kenmare, circle oil, and petroneft,
hope to see you all there

http://uk.advfn.com/news/UKREG/2012/article/51187528

http://www.investegate.co.uk/Article.aspx?id=201202170700146025X

V/ Disappointing flow results,although thet have potentalally large oil field.

The Ledovaya result is encouraging and we await the test results from the Upper Jurassic zone. We are delighted that testing at Cheremshanskoye has confirmed oil in our primary Upper Jurassic J1-3 interval and demonstrated three separate oil pools in the field. Given the large area of the structure and nature of the analogue fields nearby we feel that with further delineation Cheremshanskoye will prove to be a major oil field."

More good than bad.....undervalued...

sp slaughtered......unbelievable....

Disappointing market knockdown......producing.....and with another oil field coming on line shortly even with a small production setback, I would have expected the sp to remain around 15p....10p now....will have to stay put....my worst pick it seems for ages....

so is this a good opertunity to buy?
I would think so.

only if you think theres a profit to be made in the not to distant future.,.

I have just been tempted again...heavens....this just has to recover...most of these oil minnows never get to production...this one is and increasing little by little but everytime there is a small production setback : the sp gets slaughtered regardless of other fields with tens of millions of barrels being discovered....this is nothing of the size of the GKP's or even the Falkland oilies but it's a minnow and a producing profitable one at that...the sp should be above 50p...at least..patience is required here...and I'm not selling at a loss...

Your stuck in rf but parrisf has the choice, besides your sounding like pro now....lol gl