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There'll be a right scramble for shares tomorrow once dividends hit :D a shame that HL are always slow in crediting it to my account and it tends to hit it next working day. Current sp on TSX is equivalent for 46p.
Just found some cash so I could reinvest my dividend now instead of Monday. Just have a feeling we may move up considerably soon.
Brent $85
So the readon for the recent oil pruce surge seems to be that EIA data showed that US crude stockpiles fell by 1.536 million barrels last week, instead of the expectation of a 1.338 million-barrel increase
Looking back at the last dividend, the FX rate HL used was 1.262, which using Google data appears to be in the FX range on the 14/12. So I assume they use the FX rate at the time the payment is made to your account. Petrotal do not issue FX rates for dividends unlike some other $ shares I hold.
PTAL state that every $3 increase in Brent above $77 is $10m additional Free Cash Flow for them 👍
Brent also up over 2% today, to almost $84
Actually around 1.28 I should say now
Do you know if they use the FX rate around ex div date when processing payments? GBP strengthening from 1.265 to 1.29 since end of Feb
Dividend in 2 days time. With 3%+ bring returned in cash there could be a scramble for shares! Happens when daily trades are generally low.
Well described, Damofarl. Though I actually think Manolo isn't providing resources mainly because it's an investment, but simply because they want to lead through example and it's the right (and responsible) thing to do.
Nice to see the meters running again :D And we're (again) below 915 mm shares, so it's time to open a nice bottle of wine again. Still a couple of months to go before share buybacks brings us below the latest warrant/dilution sh.tshow.
We don't know how the spill will plan out, and whilst obviously not a positive for such an environmental sensitive place, I do see positives here.
It's our oil, but not our barges, so PTAL could just ignore and hold their contractor to contract/account and distance themselves from someone else's failings. Yes, PTAL could be questioned, blamed for say, using cheap barge operators, but the double hulled barges suggests they weren't/aren't cutting corners. The proactive provision of provisions to affected areas/communities shows a responsible operator.
I invest in stocks to make money yes. And whilst investing in oil whilst having a moral/societal compass may seem an oxymoron, I think PTAL doing assistance rather than waiting until forced to do, shows (along with the community fund), their awareness, astuteness, that all, (investors, communities, environment) are integral, not a tokenistic fop, to prosperity. For all. That we all should, and can, share prosperity.
Just.my views, and I know it's early days on exactly what happened. But that's my gut. That PTAL do not think providing assistance is a cost, but an investment.
Https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos
Shipments again up and running
re: collision - For comparison, stand on Waterloo bridge or around Antwerp to view river traffic volumes and density . . . can not understand the incident in view of bridge (tug) tools to avoid coming together.
Actually PTAL were at the Govt. meeting according to press reports, and will also be at the 23rd March meeting to discuss compensation.
https://diarioahora.pe/loreto/comunidades-de-puinahua-afectados-por-la-fuga-de-petroleo-reciben-apoyo-mientras-avanza-limpieza-del-rio/
Agreed that this incident does seem to be over, and that the barges are or will shortly be moving again.
That report is 4 days old, and the incident a week ago. Providing safe drinking water while the spill was contained and cleaned was important. I note we were not at the government meeting on the 9th, where I dare say the focus was on the reason for the accident and to put in place necessary mitigations for the future.
Hopefully everything back to normal in the area now.
Initial reports, with several villages affected, indicated a bigger spill than that. I would have thought less than 50 barrels and a fast flowing river would contain any damage.
Novum press release says no injuries and spill was less than 50 barrels thanks to double hull:
Novum Press release: River Incident Between Externally Owned Barges
Novum informs that as has been reported, the Peruvian transport company Trans Fluvial E.I.R.L. had an accident due to the collision of two of its barges during cargo transportation in the Puinahua River, Loreto Region.
This resulted, according to current estimates, in a spill of less than 50 barrels of crude oil, which have been mostly contained in the vicinity of the incident. Fortunately, no injuries have been reported.
The product on the barge before the incident occurred was 20,345 barrels. CONTAINMENT OF THE PRODUCT, AVOIDING a major incident, was possible by using only double-hull vessels.
The transporter is conducting cleaning operations and serving the surrounding communities through specialized companies, while Novum and Petrotal are jointly providing all the necessary support.
Should you have any further questions please contact us at info@novumenergy.com
Chris Scott Chief Financial Officer Novum Energy Trading Corp.
Credit to ALikhodedov for link
https://t.co/762Blg2MhB
''the shipowner Henry transporting the crude oil that the company Novum buys from the operator of Lot 95, requested support from PetroTal to control a hydrocarbon spill in the river, which occurred after the cobbling of two of its boats, approximately two kilometers from our operation (puinahua district . Loreto)
Immediately, PetroTal - in support of the Henry company convoy - activated his Contingencies Plan by which properly trained and equipped brigades reached the point of the incident and managed to control the leak of the hydrocarbon.
The event occurred outside the PetroTal control area.
The transport company Henry, owner of the sinister barges and contractor of Novum, has pledged to provide the necessary support to the affected communities''
The two barges must have clobbered each other hard. So much for double-hulled construction. Degree of protection is finite. Have had some anxiety over collision . . . only a matter of time.
Travel downstream in convoy. Tug units coming up should heave to . . . same arrangements as single track rail (with sidings).
Seems ~200 opportunists were onsite with spears but blockade was temporary (?)
Yeah, but I think it was Petrotals oil, just not their responsibility (or rather, not their fault, however they might end up with the bill). So they did ofc. aid. I wonder how much oil they spilled? And it certainly explains why we suddenly got 0's instead of 18K BOPD. It's nearly 1 million lost per day; it takes a long, long time to regain lost production.
From what I can gather, petrotal assisted another company
"Trans Fluvial Rey E. I. R. L., for its part, sent a delegation to the town of Manco Cápac, Jorge Chávez and other communities to manage the supply of food and water. Meanwhile, the Loreto Conflict Prevention and Management Committee, – where PetroTal also participated – ordered the sending of health brigades and has been coordinating the delivery of supplies with the Municipality of Puinahua.
▫︎ The company Novum Energy, owner of the crude oil, activated response level II of its contract with Lamor, an international specialist in spill control, which immediately ordered the sending of vessels, equipment and specialists to execute its action plan in the Canal del Duero. Puinahua, as well as the hiring of 120 local people for cleaning work under the coordination of 15 supervisors."
Https://diariolaregion.com/comunidades-de-puinahua-afectadas-por-la-fuga-de-petroleo-reciben-apoyo-mientras-avanza-limpieza-del-rio/
Shipments presumably suspended for the moment. Several villages affected.
Https://petrotal.pe/empresa-internacional-control-de-derrames-plan-de-limpieza-rio-puinahua/
. . . perhaps a check on this Novum subcontract will be useful . . . thought barges had adopted GPS measures. Bloody clowns.
Ex divi week normally strong for the share price. By the time I get mine (Monday), I'm normally topping up at a higher price!
Oops meant "dont often!