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Where now?
50p gone...
Just bought more....
A) -5.243846, -74.328064 (see satellite view . . . zoom)
b) greatly looking forward to 3D SE-extension advisory, Yurimaguas and Providencia update next month
Https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos
Record month in prospect or very close to it. Surfeit of bananas for the cage. Have dropped anchor and now digging around the Kabompo Dome and the Great Dyke (the next big movers). Marshall Abbott and Majid Shafiq also progressing. can Paul Baay make some headway ?
And here we are fellow ah haa's and wise sage's on the shore line with Montezuma awaiting Cortez with the 50 pence SP bagged and tagged awaiting shipment back to Spain with the rest of the "Loot".
What now ??? will we see the giddy heights today of 51 pence ???? that magical +£1 predictions of all the soothsayers brokerage houses on the Thames ????
Can it be happening - is this the flood gates opening on the SP ??? is that Y we have all the rain coming ???
$91 oil. that'll do it, 50p on the ask...
Bob, I'd lay off the bananas if I was you. I think you might have a potassium intolerance that you're unaware of.
Explain SturmVogel how in your view the SP below 50p id an adjustment for dividend
daggers me old ****er only the pe ratio a joke ???
really daggers.
what do you call the sp then on the financial metric's petrotal is producing ???
time to phone the bod's at gchq for a new enigma code cracker too burrow away in the woods cracking the sp 50p conundrum.
granny club whaaa whaaa lamentations and buy back wash out program needs a new spin cycle - reverse split
Compared to BP(7.6) Shell (11 odd) a PE of 5 is a joke I get that it's in a politically less stable environment than iou'd want but it's still low. And BP looks like its going higher with rumours of a takeover. Maybe it's the start of some consolidation..
A new research note from Stifel today: “Q1 trading update: production on target”. The firm maintain their Buy rating and 103p TP on PTAL’s shares
A new research note out from Peel Hunt today: “1Q24 –Off to a strong start”. Peel Hunt reiterate their 105p TP and Buy recommendation on the Company’s shares.
It may even be less than three months if Brent can maintain $90 (netback of $50 at this price). 4,500 barrels x $50 = $225K. $14m cost / $225K per day = 62 days to return back capital. Brent @$85= 69 days to return
Charlie156 - I'd say it's only expected that new wells (edging closer to the boundaries of the reservoir) have "diminishing" returns. However, 17H is still earned back in 3 months time; same would probably be the case with 18H while 19H again is pushing the boarder (just judged from the map) and potentially expanding the reservoir & reserves - but more likely with diminishing returns (we'll see). Still very profitable though. And re. Bretana, you'll see Manolo looking like a kid with x-mas trees in his eyes, explaining about the liquid factory, prolific sands, etc. for a long time. It's a $$$ machine.
It should also be noted that Q1 averaged around $82 Brent, where Q2 average is currently considerably higher.
Operational progress continues.
The 17H well was brought onstream at the beginning of March, averaging 4.0mbbl/d for its first 30 days of production. This included producing at 4.5mbbl/d for the last two weeks post switching on of the ESP. This is a strong rate, in-line with company expectations. The 18H well is now drilling ahead and expected onstream in May, with 19H to then drill post that. Again, the drilling programme helps underpin full year production and cash flows.
PetroTal holds 100% in the producing Bretana field, onshore Peru. This produced at 14.2mbbl/d in 2023, driving EBITDA of US$198.3m for the period. Bretana holds a significant 100.2mmbbl of 2P reserves, and PetroTal has a multi-year drilling programme which we expect to take production to approaching 25mbbl/d in 2027 in the 2P case. The company has established multiple export routes for its Bretana crude, including barging to Manaus in Brazil, to the regional Iquitos refinery, and into the ONP pipeline (currently offline) via the Saramuro pump station, helping underpin export reliability via diversity. New export routes are also being brought forward, including via the OCP pipeline through Ecuador and Yurimaguas in Peru. PetroTal also engages in significant local social programmes in order to help reinforce its local licence to operate. The company has a strong balance sheet, holding US$85m of cash (zero debt) at the end of Q1 2024, supporting ongoing CAPEX investment and returns to shareholders, with PetroTal establishing a regular annual dividend of 6.0c/share from Q1 2023, implying a 10% yield at current levels.
As such, PetroTal offers investors regular drilling news flow, strong and growing production based on a material asset, significant cash flows underpinned by the variety of export routes, an increasingly established dividend, and a strong balance sheet.
We have a positive outlook for the shares, and value them in-line with our total risked NAV of 94p.
This is all positive stuff, and going forward we look for more news on the drilling programme, production rates, quarterly dividend levels, and progress on new export routes
As expected update from Ptal with operations running like clockwork clearly state cash is down due capex and dividends, still healthy cash balance, good that river levels are not an issue currently.
Can we break 50p as Bob says we've been stuck at this level for quite some time.
Right on old chap - That's my take on the Solar Eclipse - Bust the 50p Halls of MonteZuma Hoo Doo.
Sturm, you have been here longer than I have. Ptal had a great run of wells with 8H,9H,10H,11H all exceeding expectations. Since then the wells have performed in line with expectations and paid back their investment, if not hitting the heights of those earlier wells. I've looked at the field and can't see why that might be. Any ideas?
Sigh.
If you're not adjusting for dividend, you should look elsewhere.
50p is quite the barrier - was the eclipse a sign that this time it's different?
Beat those drums and Dance the Boolah Boolah to awaken the ancestors out of the earth - the SP approaches 50 pence - glory be - sign on the whirling dervishes to help push baby push that 50 pence SP - only been stuck below 50 pence since Jan 2021.
A mere blink of and eye on a Sphinx
Strongest start to a year in PTAL's history, quarterly average production of 18,500+ bopd. Stage set for record first half and annual production.
Oil price above guidance of $77/bbl Brent bolstering Q1 2024 financial and operational metrics.
https://twitter.com/surprised_trade/status/1778308222106865770