PetroNeft Resources Public Limited Company is a public company registered in Ireland (Company number 408101). Its registered office address is PetroNeft Resources plc, 20 Holles Street, Dublin 2, Ireland. The Company was established to develop oil assets in the Tomsk Oblast in Western Siberia and was admitted to the London AIM and Dublin ESM Markets on 27th September 2006.

The main assets of the Company are a 100% interest in a 4,991 km2 oil and gas licence (Licence 61) in the Tomsk Oblast in Russia, held through its wholly owned Russian subsidiary, Stimul-T and a 50% operating interest in a 2,447 km2 oil and gas licence (Licence 67) also located in the Tomsk Oblast. Both licences are located in the prolific Western Siberian Oil and Gas Basin. Licence 61 contains seven known oil fields, Lineynoye, Tungolskoye, West Lineynoye, Kondrashevskoye, Arbuzovskoye, Sibkrayevskoye and North Varyakhskoye and over 25 Prospects and Leads that are currently being explored. Licence 67 contains the Ledovoye and Cheremshanskoye oil fields and numerous prospects and leads.

News

http://petroneft.com/news/2012/

hey mikel,i only have one other stock in my sipp among all i own and that is now
316% up since this time last year.I think this may do same if not better.

More loading up today by someone!

hello davyboy,i have a target price here of 20p - 25p which could come this year IMO

a couple of very chunky buys this morning!

More stock for me today here,something about to kick off here i feel.

DYOR

There are rumours on various bb,s that ROMAN ABRAMOVICH could be taking over
petroneft,not really sure what to make of it except i remember roman was interviewed
on i think business news europe before xmas and he said he was looking for O&G assets
in siberia.Might sound wild but ptr would be a super buy for someone with cash and
connections like him.

Watch this space,if true this will go into orbit.

Great story, keep up the great ramping, some lemmings may buy it!

oh another pearl of wisdom from the halifax kid lol

I see you ramping all sorts of no hopers on here and you call a company producing
2800 bopd fit for lemmings,where is my filter!

jazz halifax is a well known troll on here so put firmly on IGNORE

It works a treat !

davy i feel that could be sound advice,there is one born every minute it seems!

I expect the next production update during the next ten days jazz

WELLS TO WATCH IN FEBRUARY


http://www.smallcapnews.co.uk/2013/02/wells-to-watch-in-february-2/


PetroNeft Resources (LON:PTR) should update shareholders on the 112 well on the Arbuzovskoe Field in Tomsk Oblast, Russian Federation. The well is located on the eastern side of the field where, to date, PetroNeft has experienced higher flow rates. Investors will also be keen to hear if three wells that have been offline for remedial works to pumps have been put back into production.

RNS sp down 20% .......enough said?

halifax lol

Take a closer look,they have just had their fifth straight success on a new field and
according to company all above expectation.They have been unlucky with some very
cold weather locally lately thats all and if you check through the stats you will see
that when all the current wells offline for repair ate back online and added to the new
wells they will be at their highest ever total production level.

As the mm,s were so kind to lower the sp today i actually bought another 500k and
will take a few more later,watch this move up over next week or two.My target this
year is over 20p on this and think i will get it.

Mikel, bon chance.

halifax if that was french for good chance you are astute,not many companies with
a near 1m barrel per year production level and huge reserves trading at these levels.

Bon Luck!

Mikel,i took another huge chunk of these yesterday and here is why!

Was just looking through the latest news item,another well success which flowed at
140 bopd so now that is five wells at Arbuzovskoye and five successes.Adding these
up it now amounts to over 1500 bopd at the half way stage and actually double the
original expectation of 150 bopd per well x 5 which would have been only 750 bopd by
now.

They have taken a few of those wells offline for maintenance and pressure testing
which i think was scheduled anyway at half way stage.But in effect they have now
increased production to 3000 bopd from 2800 bopd in last update when they put
the wells back online. And it actually could be more like 3200 bopd because there
are some wells at the other licence 67 which were taken offline for pump repairs at
end of 2012 which should be back on shortly.

I would also add when you consider they have just been working in the few coldest
months in siberia it must now give them a head start on this years program to be at
this point,and with weather now turning in their favour i would be amazed if they are
not at 3200 bopd or over in the next update.They are also drilling ahead on the next
well at Arbuzovskoye.

jazz i totally agree it was a crazy reaction to what is bloody good news,and as you rightly point out they could actually be at 3200 bopd in a week or two with all the wells online.I might grab even more monday :-)

jazz & mikel, interesting posts chaps and i agree with you,there was a post over on Lse that i paste below
as its very much my angle on this too.


From Lse :

"That is exactly the point :-) not only are they producing but they have doubled their production output over the last year and all of this has come from their 100% licence 61,so this additional 1500+ bopd is effectively worth 3000 bopd if it were on their other licence where they are 50% with Arawak ( VITOL ).And as per my previous post they are only half way through the funded program at Arb but already slightly over what they were expecting over the whole ten well program. Five drills and five straight hits all flowing under natural pressure tells me they have a very healthy bearing zone at arb and dont forget this is one of their smaller fields (they have some huge fields yet to get going ).

The news they put out friday said in basic terms that they are now at 3000 bopd or over,but we wont be there for a few weeks while we carry out some repairs,and they also have a number of wells at licence 67 due back online anytime now after pump repairs that will add a further 200 bopd. The latest well is now drilling ahead at 61 so there is a good chance that by the time that reports they will be at 3200 bopd anyway PLUS whatever the new well delivers. A rare opportunity to get in on something significantly undervalued (they also have huge P2 reserves valued at just 60 cents per barrel )."

time to take a look at the stock,
on the move up, large volume than lately and looks ready to break the important 3p