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Bob- there's a 2 dollar spread on the NYSE listing because its currently closed so your calculation doesn't work.
S$8.12 bid, $10.31 ask, so invalid to compare that mid price to historic bid prices and say share has gone up.
I'm comparing like with like:
https://www.lse.co.uk/ShareChart.html?sharechart=GTE&share=Gran-Tierra
11 months after split on April 5th 2024 share price was 500p- lower than share split day (525p).
I know recent share price performance has been better in last 6 weeks, but so long after the split, I'd say its more likely that improved performance of business is the cause.
El Pais Peru is a good news of goings on Peru and they do English
You have hit the nail square on the head GGG about transport - 18 000 BOPD is max the Barging can handle to Manus re company reporting with current barge fleet - And it is glaringly obvious that they need more production to be transported internally for sale via a pipe line - 73% of production is to Brazil export - PTAL need to settle their differences with ONP
They should have doubled the share buy-backs. I think they should aim to take a minimum of 5% of shares (net) out of the market until the valuation starts to correct. They can easily do this. Drilling more wells when we're transport constrained doesn't help at all. They're throwing off a silly amount of cash every quarter so maintain the divi, double the BBs, and keep production stable at 18-20kbopd for the next 12 months whilst transport logistics are solved.
Yeah I just don;t see a reverse split doing anything Bob. It's more the fact that being listed in the UK is poor for valuation across any industry. Canada better, but still doesn't stop the deadweight that is AIM. The reason why GTE has exploded is simply because of the NYSE and all the money in the US market.
GGG I have constantly bemoaned the fact of Listing and Reverse split for years at one time PTAL was considering a reverse split and put it forward on a AGM vote - no news after the vote in favour thou - been dead quiet on that since the vote - but bigger fish a looming PERU re politics - I think we shall soon see the political situation Peru start to erode the SP PTAL - on the other hand GTE operating in Columbia SP survives Farc knocking out their pipelines - like u say what a difference a Listing makes and a SP out of the penny stocks murky waters by way of a reverse split - pity the dug out Canoe bunch can't see it.
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!