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What's the purpose behind these daily 17,000 buybacks. Is it just to annoy Bananabob.
BBB stop panicking. it will all come right in the end...
Decided to make my second investment in darkest Peru (that's a Paddington Bear reference). Cash balances. Undemanding PE & EV:EBITDA multiples. Decent dividends. Modest share buybacks. Increased sales in Q1 2024. 5x top-line growth 2020-2023. But you know all this already.
And there you have it - after months of buy backs - the total number of shares still way above 900 million - buy backs are about as much use as a wax frying pan in a kitchen.
Latest ceasefire negotiations have not yielded any results. Hence Brent back over $90 after a short dip to $89.
I can sell at 46.95 and buy for 46.94. Someone's keen.
Agree that more buy backs would be good, if they are allowed by TSX. Think they have struggled getting much recently without impacting liquidity.
Also I'm happy with the share price as it is because I'm still hoping to buy more (cash permitting) before this establishes a range over 50p. The update in a few weeks maybe the catalyst.
Not that heavy tbf. And another batch of warrents/more dilution isn't really helping.
At least (at last) the number of warrants & PSU's outstanding is tolerable now.
I wouldn't mind a bit stronger number of buybacks for a quarter.
Heavy buying last 3 sessions and price hardly moving.... dont get it
Looks like a few people using their ISA allowance late on.. just worked out at 20,000 bopd at $90 oil is a nett of $38 pb. thats 275,000,000 dollars free cash flow this year
That would be fiction. No chance that a Chinese company would invest in #PTAL without management notifying the market.
Re. LotX: It's in NW of Peru, so the "old" benefits of pursuing lighter oil fields in the Amazonas to reduce diluent costs (ONP, and heavy oil of Bretana) don't apply to that field. IMO it's not on Manolo's bucket list.
I'm not sure what future CNPC has in Peru. They operate Lot X, but the license is due to expire in May, with the bidding round supposedly ongoing with the winner announced on 8th April (that's Monday) :
Https://www.upstreamonline.com/production/new-operator-on-menu-for-one-of-peru-s-largest-fields/2-1-1605914
That was in Feb though, and this article says bugger all interest in Lot X:
https://gestion.pe/economia/nadie-pugna-por-lote-x-y-perupetro-amplia-plazo-hasta-hoy-para-recibir-interesados-noticia
Manalo said he was interested ( webcast with analysts) in picking up one of these mature fields, but don't think it was Lot X? I think there's 5 or 6 fields in need of modern methods and looking for new operators.
I think WF got the Chinese bid thing from this Canadian board;
https://ceo.ca/tal
All just speculation as far as I can see, happy to be shown otherwise..
I know nothing more other than a post on Stockhouse Bullboards under TAL.......could be bull.
Dont know about an approach or not I do know this.
2024 funds flow forecast to reach $160 million and free funds flow (after capex but prior to net working capital cash adjustments) of $25 million using the December 14, 2023 Brent oil strip ($77/bbl flat in 2024) with an estimated incremental $10 million of free funds flow for every $3/bbl change in Brent oil price; that's a possible $40 million more..
Do you have link to that? Haven’t heard of that anywhere.
Brent just breached $90. I think it’s flying a bit too high as CB’s will look to prices of fuel etc when deciding rate cuts :/ would be happy with it hovering at $85
It appears that discussions are underway regarding a potential acquisition or investment by a Chinese company in Petrotal. Such deals could indeed have a significant impact on the company's operations and its future development. Stay tuned for further developments as these discussions progress.
I love your charming wit spongeBob. Brightens up a wet Friday.
You should be buying the lambos with the GTE profits. What are you doing here!?
Sister #1 NYSE GTE split baby - reverse split and hit the big city boards and the bright lights and is currently trading way up @ $8.25 a share from $5.
Sister #2 LSE PTAL stayed in the deep dark jungle with all the other bunnies on pittance share buy backs and still stuck on the river bank @ > £0.50 a share.
And the Granny club is still squawking like parrots about the BUY BACK and Dividends.
Meanwhile the retail bag holders are squealing like piggies on a friday after prayers about the dead SP.
Q2 23 sales/production were a company record, with a few days lost to river blockades and at a Brent price of $77, so there are grounds for cautious optimism. I'd really like to see Ptal hitting the ball out of the park in Q2 with production over 20,000bpd before the vagaries of H2 set in.
Recent performance/oil price does suggest considerable room to raise, but as I've said before, I'd prefer the steady and sure 2c which is already a handsome shareholder reward. I'd rather ad hoc specials as (outperformance) warrants, without holding itself hostage to fortune. I am a BIG fan of the conservative pragmatism here, of it's expectation setting, of not shooting the stars out, just delivering consistently and constantly. Because of the mgmt style, I don't ever see the SP skylining, just a slow and sure drip drip rise, and I'll take that every day rather than the usual rollercoaster of broken projections ended.ic in AIM/small stock.
Just thinking about that divi too. I can't see more than 2 cents. but that's really fine by me. I do see the share price move up now. I'm seeing 55 p by next qtr results and a qtr divi of 2.5 cents, then maybe 2.5 and a 3 cents final so 9 centyts for this year with a average share price of 55p for the year giving a really great divi yield. good night!
Yeah, my glass is always full (who wants a half full glass?) The company's past performance is maybe the reason I'm so enthusiastic here!
DD)) . . . real optimism there. Overall, my greatest near-term expectations are pinned to 3D results on the SE extension. If spectacular Manolo could well be on his way to a $2bn valuation.