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Did not benefit from reverse split ??? Glued to the dug out canoe u really are - 1 year later and the NYSE GTE SP is at 736p - what is that dear chap over 1 year on your 415p July SP ?????
321p/415p = 77% annual share price rise and PTAL over a year ???? your argument is truly Ignarus on a reverse split
there's your answer bob - us listing. it's not about the reverse split, it's about the fact we're listed on the tsx and aim (dog**** place to be), and gte is on the nyse. they value everything more highly than us (& canada).
GTE primary listing was Toronto Canada along with sister company PTAL - come the break away and reverse split and relisting New York exchange to attract the Instituition investment - Ticker code NYSE GTE - GTE has romped off the charts - Current NYSE US$9.23 - and the ignarus remain glued to the dug out canoe on "buy backs" and at the time of the split were all wailing good riddance to GTE - seems like the "wise" ignarus got it wrong
This is what investopedia says about reverse splits:
"Generally, a reverse stock split is not perceived positively by market participants. It indicates that the stock price has gone to the bottom and that the company management is attempting to inflate the prices artificially without any real business proposition. Additionally, the liquidity of the stock also may take a toll with the number of shares getting reduced in the open market."
https://www.investopedia.com/terms/r/reversesplit.asp
But GTE did their Big Banana reverse split on 5th May 2023.
Shareholders got one new share for 10 old so you expect the share price to leap to compensate.
https://www.lse.co.uk/ShareChart.html?sharechart=GTE&share=Gran-Tierra
So the day before the share price was 62.5p and on May 5th share price did indeed rise to 525p but sank over the next two months (July 4th share price 415p). It was only really almost a year later where share price started to rise into new territory so dont see how it did benefit their shareholders???
Where is GTE's primary listing?
Well said ignarus but as with all ignari comprehension is lost on what was stated - Did not bail out on GTE as u did back in the split
If you have any shares you should sell and put it all on GTE. No money to be made here! :)
TSX TAL C$0.80 - TSX GTE C$12.60 - pre split from PetroTal 2 +/- years ago Grand Tierra Energy was trading near the same value as PetroTal in the US $ 0.35 range - reverse split carried out once free of PetroTal and look where it is GTE - meanwhile ding dong PetroTal has a pathetic buy back trying to increase SP and a PSU award program keeping the status Quo.
''For not a great deal of money invested, this acquisition serves up a useful synergistic add-on to the existing production from the Bretana field, but make no mistake it is for its almost immediate plans for development that has such potential upside.
In summary this is a perfectly good acquisition which is meat and drink for PetroTal who can add a combination of the production and upside from this deal and participate in the upside which could be substantial. I would expect more of the same if they were available.
This was a cracking quarter for PetroTal who have yet again delivered the goods across the board and added a ‘strategic asset’ which shows that the company are ready willing and able to add to the portfolio at this stage.
Production was in line and revenue and EBITDA was a highly creditable $71.5m both significant increases on 4Q 23. The acquisition looks most interesting and as I wrote yesterday give plenty of upside potential in many ways.
Whilst the shares have risen 25% from the years lows I am convinced that there is much more upside that the market has by no means taken account of.
My long running Target Price of 150p should have been reached and crossed by now and I could easily upgrade it based on the upside at the company. Accordingly the shares are amongst the most attractive in the Bucket List and deserve a significant rerating. ''
Thanks BigB, is a reverse split something that has been mooted? It sounds interesting and has the bod mentioned this? Thanks again.
LongFell - PetroTal SP is massively undervalued for the production levels achieved.
Buy Back is not increasing SP - the buy back " holy monkee" is neutered by the PSU share issues every quarter - PetroTal is never going to break under 900 million shares on the current dance band tune.
In fact the SP is degrading under the current buy back no matter what the SturmVogel conjures up as a scenario Dividend / Buy Back Hocus Pocus.
And as said by u Longfell ex Dividend day drop in SP ???? - knock 1.5 off the current SP Bid sees u at 44p - how's that figure on the pre Quarterly RNS 50p high.
The money is talking the Bool Sheets is walking - reverse split at least 4 to 1 to kill the ridiculous float - It will not affect % Dividend pay out BUT it will definitely kill the SP slow death. GTE is prima facie evidence of a reverse split rocketing SP
I meant to add it's akin to the share price dropping on dividend day being the same amount as is being forked out.
My view is that buybacks only make sense if the stock is massively undervalued because otherwise its just a neutral move. The money's gone as well remember. I think spending for growth makes more sense. Btw I've started looking at these. How undervalued do you think this company is? Any comments will be much appreciated.
I think the main issue with buybacks and people criticising this is that people don't really understand what the underlying mechanic is. The effect is that you're investing passively (pre tax) and increasing your ownership in a company through buybacks (there's a lot of other effects, but this is at the heart).
So what does that mean? Well, #PTAL could (in theory) have spent 12,89 cCAD per share (incl. jun 24 money) on buy backs instead of dividend = 0.1289CAD*915.000.000 shares = 117.943.500 CAD. Assuming 0.7/share since they had money to begin buybacks, that equals 117.943.500/0.7 = 168.490.714 shares bought back. Meaning the share count would not be 915.000.000 but 746.509.286. That's a reduction of 18.4% (also means that each remaining share is worth not 18.4% but 22.6% more).
So this is what people screaming "dividend dividend dividend" don't get:
As an investor with 100.000 shares you could have sold 18.400 shares and STILL OWN the EXACT same part of the company. That would net you 18.400*0.7 = 12.880 CAD.... or the same as you would have received in dividend.
Of course the general assumption is that the price would increase per share, since the value of each remaining share increases. Meaning you would probably earn more.
Only prerequisite is really that the share is cheap for this to make sense. I think we all agree that's the case with #PTAL.
Also, assuming they at some point stop buying back shares, the dividend per share will increase - in this examply by PERMANENTLY 22.6%. In other words: You'd get 22.6% more in each and every future dividend payment, if you skipped 5 quarters of dividend. (That's the "this share is cheap" proof).
So of course you could "just" spend your dividend on buying more shares yourself. But that's going to be after tax. Some people only waste 15%, for me it's 42%. What that means for accumulating wealth is obvious. During share buy backs you can just sell what you need or want at your own leisure instead of getting taxed on dividend along the way.
I also did suggest to them that they should buy back the 66 million investor warrants when it was an option. But they failed to do that - honestly they're not really RI friendly. Personally I'm not increasing my position here because of the lack of buybacks. Oh, and I guess there'll now be some ranting by people who didn't read or understand this ;)
Shorts could reduce further. But I don't think numbers are material and I think if you press this idea of shorts being a significant issue here you will only worry investors for no good reason.
Yes agreed could be many reasons why this is open. They could even be trading against a long position, possibly in a different currency. Still a chunk to buy back, and the fact it's reducing is good.
...to hedge against something etc. Who knows. Don't think it tells you anything useful.
Sorry split post, premature posted when typing.
Some traders will close their short, but others will open new short. Maybe they think the chart is bearish, maybe they think oil price will fall, maybe they want
Agreed it's a total position reported on twice a month. Still 4.8m to buy back though!
Rylidan, that's the total short not an individual position that's short. And its less than 1% of shares. Traders trade, there's always likely to be traders willing to bet on any share price going down.
Riddels old chap are u aiming for the Bono pointed hat with a D award ??? 4.8 million shares short on a 914 million share float is hardly going to swamp the dud out canoe.
PSU Quarterly award volumes at nearly 10 million +++++ are twice the short volume.
Thankfully I split my holdings years back when GTE and Ptal divorced held 50/50 both companies and do I have to tell u which company on a reverse split is no the rocket ship on SP - get it over and done - reverse split none of the granny club arguments to avoid are valid.
Below is the table from the OTC markets. Looks like short opened some time ago and is slowly reducing. They have 4.8m to buy back. Not an issue, but you always need to be aware that the market can move in unexpected ways when theres a shorter around! It does explain some unexpected moves though.
SHORT INTEREST
DATE SHORT INTEREST % CHANGE AVG. DAILY SHARE VOL SPLIT NEW ISSUE
04/30/2024 4,810,994 -5.51 212,905 No No
04/15/2024 5,091,372 -6.56 551,186 No No
03/28/2024 5,449,005 -9.43 440,014 No No
03/15/2024 6,016,551 -1.73 483,158 No No
02/29/2024 6,122,453 -3.20 636,544 No No
02/15/2024 6,325,110 2.73 423,695 No No
01/31/2024 6,156,863 4.69 155,562 No No
01/12/2024 5,880,925 -5.19 77,734 No No
Def. not saying the erosion issue should be side-stepped. That to me is a no-brainer and simply must be done if they want to keep operating in the area. It's more the fact that we're half way through Q2 with Brent averaging $85 and likely 18kbopd. So they know the next quarter will have strong cash generation. Plus they have $85m. The could have paid a 2c dividend and this would have little impact on cash pile now and in the near future. If they're worried about cash they should collar 30-50% of our production. There is no question in my mind this should be done to protect production (stay flat), dividend and BBs. The rest of production is free to peg the market. Personally I'd collar 9kbopd. AIMHO GLA
Spongebob's been in the Crusty Crab at lunchtime. He's on a roll. Must be looking today back in again!
The entire cash hand outs via PSU's is out of control - the award is not a fixed sum or an amount of shares - it's some probable award at the control of the company and no one knows what it will cost in 3 years - as for dividend that's a crumb thrown out to share holders while the Share Price retreats - even if PetroTal spent the entire free cash on share buy backs the probabilty is that it would only reduce the number of shares in issue by about 160 million shares - want a real Share Price that will attract institutions on other exchanges - reverse split the shares to above $4 and list - months ago I said this won't break 50p - and here we are travelling backwards