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I think it's quite liquid. I've rarely had any problem trading what I like, although 50k is normally my max. Just not many people trading here, which I can understand, as it's one to hold and forget most of the time.
I've literally never seen a more illiquid share. This is a £400m company and we've had 6 trades...? Absolutely bonkers. And even crazier they are not increasing the BBs to help liquidity (and support the sp). Makes you wonder how Encompass managed to offload 9m shares. It must have taken an age. Hopefully a good well result soon. GLA
Looking at where these markets closed yesterday, we should be trading closer to 48p atm. So looks like great value on AIM!!
here commeth my friends of free amazonia my 100 share gte input - hark yee all - ggg spot on buddy - summation fantastic on the one trick delivery pony to manaus brazil, lack of pipe line facilities constraining petrotal and the rattle around the late night bars alternate routes shipping oil routes ecudor.
add to the mix (thank you sturmvogel) institutional investors dumping and running for the dugout canoe before the dry season starts.
never mind the buzz ****s about buy backs stiffle that deal stifel and co missing the dump - where pray tell if petrotal is such a gem are the retail investors rushing in to suck up the cheap shares ?????
goes to show ptal not on the radar of any decent exchange like the nyse (with sec control slam them fingers in the till) features where bargain vultures would be swooping in like a black friday door buster sale.
but they are not - why - no reverse split to elevate sp above $4 and listing - still in the back waters doing gumbo and rot gut instead of caviar whiskey and cuban cigars.
reverse split grannies ignarus listen to the witch doctor nyami yami of the great amazon.
Totally agree Sturm, I was thinking the same thing. How do you know they offloaded over the last week? I figured they must have been selling down gradually over a number of weeks to get away that many shares. If they've stopped then great for the sp. If not, then I agree the company should buy back whatever they don't want at an agreed price. They could remove up to 6% of shares in one swoop if the intention is for them to sell out completely, and cost a maximum of $30m. I'd be more than happy for them to pause BBs for 1 year afterwards. I think after this next update we should have around $100m, which should easily handle a BB of this scale. They also save on dividends as well if keeping them stable. AIMHO GLA
G_G_G I guess the market has absorbed 9 million shares from Encompass Capital Advisors LLC in the last week and that's a reason why the SP has been a bit weak.
I don't know if it's possible due to regulations; but having some kind of "issuer bid" allowing a big shareholder to dump 9 million shares directly into the company vault as a buy back would be nice. I asked #PTAL abour pro rata by backs from larger shareholders a while back, but got no answer (to that part of the question). It would make sense.
Looks like we've found the bottom at 46p. Expecting the sp to strengthen a little on the back of drilling news and ex-divi date (up to 48p). May drop back to 47p post ex-divi but feel it will start to build again from there. The next update should be excellent with production levels +10% higher (Bretana 19kbopd + 900bopd recent acquisition). The average Brent price should be a good 5% higher if we stay around this $80-85 range for the next 6 weeks. All in all we should get a nice cash build setting us up for a big dry season drilling campaign. Back to 50p in another 10 weeks providing Brent holds above $80. Very good value down here at the moment. AIMHO GLA
Not doing the erosion control is straight up stupid. We're extracting oil from one of the most important ecosystems in the world. If things go wrong (and could have been avoided) you simply won't have a business at all. Why not say 'let's stop paying Peruvian taxes', equally f@cking !diotic thing to say.
Simple fact of the matter is the Amazon is the only reliable way to transport +90% of our product. And even then it's impacted by water levels. So until any pipeline is operational and reliably transporting +5kbopd for more than 12 months there's no point even discussing it as an option.
Re. the river: They have to spend the money to preserve the field. The Amazon river is a monster ready to eat Bretana if they don't. But costs are still a surprise if you look at the IPO and the annual reports. Some of it is CAPEX and will take years to regain tax wise (I presume), some of it is "just" opex.
But it seems like the new acquisition is totally ignored. It's a brilliant extra leg, reducing costs for diluent, increasing Iquitos delivery, increase "power/influence" and acquired at a very attractive price.
#PTAL is honestly a steal right now, at least at this brent level. I'm still not buying more though :) And I'm here for the long run so I actually don't really care about the SP - at least not when we're > 40p.
@ 15:51 . . . The Banana has pernicious OCD in view of his last admitted count of 100 GTE shares. I doubt he has any idea of the company's predicament or their buyback policy/practice. He certainly has zero current input on that bb . . . rather delights in taking a daily poke here. The stock remains illiquid in London. (Someone toss him another banana.)
Lots of reasons:
-dont spend fixing this erosion issues = in few months/a year, zero deliveries via river due to level of erosion therefore you now instead of relying on river, rely on pipleline.
-$50m on pipeline wont scratch the surface of Petroperu's problems
-Govt has given Petroperu couple billion $ in recent months off bailout and they are still struggling. Now news in recent days is board of Petroperu is suggesting they bring in private management to help them out and that state shouldnt waste any more money
https://x.com/TalaraTv/status/1790395620684906948
As nice as pipeline option would be (with new favourable terms to PTAL i,e FOB), i would suggest have very low expectation it will ever be used again. I'll see it to believe it basically :)
Instead of spending $50 mill on the river bank why dont they spend it on the national pipeline and maintain it and guard it its got to worth $25 mill a year annd shoot the idiots who try to blow it up.
I find it very amusing that GTE is buying back 10% of it shares and the banana reason that it's somewhat able to keep up with #PTAL is the reverse share split.
#PTAL needs to reign in the PSU greed for sure. And increase buy backs. Thankfully the number of warrants & PSUs is lower than previous years. But giving free shares (instead of warrants that should be the price of the last 10 trading days) is IMHO bad governance. I wonder if that bit is NYSE compliant? I know it wouldn't be on some exchanges.
New feathers in the hat and bigger drums still won't shake the ancestors awake - The New Buy Back amount will still be unable to break 900 million shares in issue.
Houston we have a problem "Too many shares" and "Too many PSU" in issue.
SP will not break 50 pence this YEAR watch and see - Great cash flow, no debt, great dividend PTAL but stuck in the muddy riveer bank SP - GTE big debt pile notb so rosy cash flow yet the SP is astounding all because GTE REVERSE SPLIT and RELIST on a functioning Exchange - Duuuuuh
Thanks folks. Just being lazy. So £10m or about 2.4% of shares issues. Just reinforces the need to double that amount if they're giving away half of them to mgt and staff. Company can easily add another $12m and not be stretched.
Will be tomorrow of thursday. so more drill bit news. more cash falling into the bank account
Remarkable: We have one of the most comprehensive/diligent management teams and few seemingly bother to examine the reports.
"PetroTal is pleased to announce the intention to renew its share buyback plan of up to approximately US$3 million per quarter (up to a maximum of US$12 million in the current program), subject to formal approval by the Company's board and the TSX. Stifel Nicolaus Europe Limited ("Stifel"), will conduct the Program on PetroTal's behalf".
Furthermore the company will shortly be unrecognisable from its present components: new appointments are to "lead the company's accelerated growth strategy ". LosAngeles is merely a starting point.
$12m per year/$3m max per quarter so translates to just around 20.3m shares @ current USD price of $0.59 per share
What's the maximum BB level for the year?
Sturm- I wouldn't say anything if reverse splitting didn't keep coming up like every 3 days.
I wouldn't attempt to compare the companies. But I think you can just look at GTE chart and objectively say in the months following reverse share split it didn't perform well.
As I say, 11 months after split on April 5th 2024, the share price ( 500p) was still lower than share split day (525p on May 2023). I picked LSE chart because you can choose 2 years.
And as you point out, it performed poorly from when it was announced and that's probably better test.
But more fundamentally, markets generally don't like reverse splits and if management say No then I'd say you have to let it go.
I'll encourage everyone to compare the price of the 2 mentioned stocks since the reverse split was announced april 25th '23. Don't forget to add dividend payments when comparing. Also you might want to consider the effect of buy backs, since GTE has reduced float by 10% since january 2023 while PTAL only really have succeded in having aspirations about that.
It's of course comparing apples to bananas or pears and totally bunkers, but DYOR as they say. Might even inspire some people to skill up their critical thinking a bit.
Re. a reverse split in PTAL: It was approved by the board when the sp was 8p or something like that. The decision was later reversed, after the SP had rerated. Manolo has answered this and you can find it in the old webcasts. I agree with the management that it's a waste of time and money. Not to mention the many times I've mentioned this....
Reverse split ofc. increases the SP, but it doesn't make anyone own more of the company and hence doesn't make anyone more rich. If it can save a company from being delisted - fine - but that's thankfully not the issue here.
No matter what the hocus pocus babble the fact remains GTE share price took off on reverse split and relisting NYSE - PetroTal on the other hand is as dead as a Dodo - suggest V u read your posts on the GTE/PetroTal split and share dump by GTE
Actually it opened at $9.29 in New York so stand corrected on current price. One trade in London Bid in 640p, Ask 674p but trade price 740p. I think problem is it's just so illiquid. Recent share price has been good though.
Anyway, apologies for all the GTE.
I read that they eyeing 20k increase in production in 2026(?) , so guess that's why there's increased debt.
At your peril and hence my preference for noninvestment = a nontopic. I haven't checked their current interest payment burden but suspect anxiety levels are high.
"Gran Tierra Energy has a total shareholder equity of $396.4M and total debt of $528.6M, which brings its debt-to-equity ratio to 133.3%. Its total assets and total liabilities are $1.3B and $929.9M respectively. Gran Tierra Energy's EBIT is $174.1M making its interest coverage ratio 3.2. It has cash and short-term investments of $62.1M."