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BBB, I normally think BBs are a waste of time. For PTAL they're quite p!ss poor, but at the very least they will be upward pressure on the sp, which isn't being done by mgt.
I'd say p!ss poor effort on the PR / Publicity front. And even worse on BBs that are a) are insignificant, and b) haven't even been re-started. At least poo and production are holding up well. they need to give their heads a wobble and remember that creating shareholder value is a key responsibility and the sp would suggest they are failing on this core deliverable. GLA
Great post LSE 2020202 - last years AGM RNS on pay - and look what happened - a flood of PSU's - expect the same this coming year - RNS out in every Quarter with a new PSU award - carte blanche to the directors clubbe to award themselves as much as they want - open season on filling the pig trof
"In addition, shareholders approved by ordinary resolution the appointment of Deloitte LLP as auditors of the Company to hold office until the next annual meeting, and the directors were authorized to fix their remuneration. Votes For (Percentage): 375,890,561 (99.80%)"
RNS from last years AGM so no change there whether you view that as good or bad :D
GGG - relax on the BB's - just pulling LSE202020 leg on that one - BUT it is in the RNS Directors can set their pay - Flood of red sells and bid is 39.5p - absolute P**ss poor showing AGM RNS.
Bob, can you please elaborate on the BBs comment?
Started: BigBananaBoB, Today 11:02
Last post: BigBananaBoB, Today 11:02
Slipped in under DoLittle stays on - "and the directors were authorized to fix their remuneration" OOOh Laaah Boolaah Boolaah break out the drums awaken the ancestors book the Savoy crack open a few Solomon bottles of Champers for the PTAL Directors Breakfast club - man they deserve it the soaring SP.
Last post: BigBananaBoB, 19 Jun 2024 15:17
Bit of a joke building riverbank reinforcements to protect the loading jetty after building the loading jetty ???? and then there is the record drought and water levels - the purpose of Groynes is to prevent scouring out the river bank - one wonders how this is possible on record low water levels and flow and as you would the most effective groynes are the SA "Do-losses" 90 degree rotated T construction - or have u forgotten the Cape water front - AGM looking forward to it - Either sense or more BB hogwash.
AGM + "special meeting" @ 17h00 BST. Might be worth lending an ear.
https://brrmedia.news/PTAL_AGM24
Have been examining riverbank groyne techniques. Remain impressed by m-o up at Barrow/Barton-on-Humber.
People seem more focused on the CAPEX going to river control than on the impact the PoO has - right now, they're bringing in around 30 million USD more @17K BOPD (annualised) which is more than the extra CAPEX this year. And this is without the new field, and still based on the (sandbagging) forecast that we'll have yet another century record dry season. But as viable has stated, El Nino is done for. I would be surprised if we don't get 10 CADcents in dividend the next year + share buybacks. So yield is ridiculous high.
@G_G_G did you get a response yet re. BB? I bet they'll tell you some BS about how they're maxing it out, LOL.
Let me see if I understood it :)
a) viable has previously mentioned the share price would be price bound this year (due to capex?)
b) we’ve had El Niño weather last few years causing lower than usual river levels. It now looks like it will be reversing from October and we should be getting more rain for next few years (during the typical ‘dry’ season)
c) link to view river levels around the area which is updated quite frequently showing ‘minimum levels’ etc
d) natives in Saramuro have blockaded an area that’s north west of Lot 95 (believe it’s been ongoing for many years? Though viable can confirm)
e) Expect update soon on operations from the company
Can;t say I understand much of that last post Viable.
Started: BigBananaBoB, 17 Jun 2024 19:05
Last post: Somekindofnut, 18 Jun 2024 16:22
I think they have to sell the story better- I've asked them to get out and do in person investor events.
Good points somekindof. Bottom line is we're highly under-valued down here. One would think the only way is up given current poo, recent acquisition, circa USD$100m cash, 12% dividend yield, and 17kbopd production. SP is quite ridiculous.
GGG- I don't mind if capex costs increases if it means more drilling. Wells pay for themselves quickly.
So capex is going up but they are drilling two more wells this year. One water, one oil and we'll get that benefit:
"Therefore, in Q3/Q4 2024 PetroTal is now planning a fifth water disposal well with associated tie in infrastructure, and an additional oil well. Total estimated 2024 capital spend, inclusive of the changes outlined above, will now be in the range of $150 to $160 million, up from $134 million. "
Capex going up but we get two more wells.
So we know that there's 3 wells booked for drilling on block 131. I wouldn't complain if they manage to complete the deal and drill this year. Feels a bit quick, but perhaps there is no planning issue and they can drill horizontally from existing pad.
Agree about capital appreciation BBB. I have a feeling the market just needs to see some +ve news around Q2 production and cash generation. And pone would hope no more Capex surprises. Some good results, +ve news on transportation options, and another 1.5c dividend allocation should see us back above 45p. Not sure where you get dividend at 15%...? I have it at 12% (6c annual payment), which is still silly. Happy to sit and wait now. GLA
GGG as you said 50p SP was touched and then retreated. BB's are doing nothing to increase the SP - in fact the SP has dropped nearly 20% with BB's in operation - great having the bull frog choir on the dividends at 11% BUT reality is your investment has depreciated - with the latest SP now suggests a dividend of 15% - all codswallop the SP has to increase on your investment other wise whats the point you are losing money no matter what the Div - the bull frog choir needs to cognitively compute that - time for another plan to increase SP.
Started: BigBananaBoB, 14 Jun 2024 12:00
Last post: BigBananaBoB, 17 Jun 2024 19:00
Unfortunately GGG the relist NYSE won't happen with out a bite of the poison apple reverse split - needs the reverse split to get SP above $4 for a NYSE relist - sad but them there is the apples.
Lets see company news what pops out - I think same ols same old dance tune on the Titanic - nearer by God too thee - BB's and hogwash killing the SP further.
i don;t think it's about the reverse split, but more to do with a us listing. the us values everything far higher than the rest of the world. o&g is no different. if you want to see the sp go up by 50-100% then de-list from dog**** london and list in the us. not the simplest thing to do, but will guarantee a significant re-rate in value. picked up another 50k just now under 41.5p. crazy share price given the step-up in production, delivery, and cash on the books since we were last at these levels. none of the issues we've seen previously, dividend is now huge, and brent is still above usd$80. goes to show the value of a uk listing. aimho gla
And GG a possibility that BB's have been shelved because a reverse split is looming large - always try see why the worms got in too the ships biscuits
Take heart GGG who knows maybe the penny finally drops PTAL HQ and they announce a reverse split and relist next company news. Standby then for the rocket ride £3 to £4 SP
Rylidan; my sentiment is unchanged, PTAL is a conservatively run Co, that likes to maintain a cash buffer, to smooth (protect from) unforeseen eventualities. And whilst some may be unhappy at not leveraging buybacks into current lower SP, I'm happy with that stewardship.
The fall in sentiment (SP), has more to do with frustration of short term traders, not seeing it promise the world/shooting the lights out, managing their 'opportunity' loss. If, like me, you believe in PTAL, believe in the long term, it's just noise.
Agree your summary, excepting that oil price is still well ahead, as it has been all year, PTAL's base projections. Yes, increased costs, but also increased cash inflows.
My sentiment is, I'd rather have 10% for 10 years, than a one of 50% gain on traders pumping an over promising (but hostage to fortune) mgmt style.
Sentiment is for the short term quick buckets. Profit is for the patient.
Started: BigBananaBoB, 17 Jun 2024 12:26
Last post: BigBananaBoB, 17 Jun 2024 12:37
Dear Riddles me old fruit - as said many a time - split the holdings when the dear sisters parted company - holding 30000 PTAL @ US $0.28 and 30000 GTE @ US $9.71 - the latter zoomed on a reverse split and relist - GTE holds the glass slipper and dear old sister PTAL the Pumpkin. Still holding PTAL awaiting Prince charming - seems the prince is delayed swanning about USA with a rather nasty princess.
I see old Bob is now ramping the share after his purchase at 10.01 today. If you can call that post a ramp! Either way he's definitely flipped.
PSU's have reduced thankfully - so touching to read the up beat posts - possible zoom to 50p on company news release - so stay huddled chaps - fingers crossed heee heee yo ho ho the SP and barrel of rum drink and the devil will have his fun.
Last post: LSE202020, 17 Jun 2024 12:34
HL dividend now credited. I've gone ahead and purchased 6,150 more
My top up of 16,950 shares i just bought showing as sell but was inpatient with HL and their late div crediting :D
But Manolo has got his latest batch of PSU's. Not a good look.
Not yet...........
Anyone got theirs from HL yet?
II have just paid the Dividend into my account.
Not sure HL have any staff in on a Friday, going on past divi performances. When I complained they said they had to distribute (allocate) the cash manually - strange that they then bleat to the press et al that they have wonderous IT systems. Not.
Yep always annoying having to wait till Monday for HL to get a move on while i see lots of other brokers credit peoples on same day :((
I think dividend will be Monday for most of us, but people usually post about it :D
IIRC SP tends to notch a bit up when retail investors get their dividend and perform their own (yet taxed) buyback.
Divi day today. Should see some positive action in the share price.
GLA
Started: BigBananaBoB, 13 Jun 2024 10:36
Last post: BigBananaBoB, 13 Jun 2024 10:36
Chest upon chest of Spanish gold and a ton of plate in the middle hold.
And there they lay that took that plum with sightless eyes and lips struck dumb.
The SP and the devil will have his fun.
Yo ho ho and a barrel of oil.
Started: BigBananaBoB, 11 Jun 2024 19:49
Last post: Charlie156, 11 Jun 2024 21:49
They were more forthcoming with data from previous wells(8H-11H) than recent wells. Lots of info to impart, I'm all ears!
I don't think you'll get back in this time either BBBB. OP is looking fine and once dividend hits this week (or Monday) people buy more, since the high yield is juicy and production is slowly growing.
G_G_G, #PTAL doesn't really have a problem delivering oil at the moment. Water levels are fine and oil ONLY leaves Bretana by barge - fortunately they can be scaled (easily). They're drilling as fast as they can do safely, under the restrictions of the field size (1 rig to rule them all...), targeting 25K BOPD in 2026. Workovers and work to control erosion might reduce production and possibly loading - but that's just a guess. I'm not sure they'll be able to hit 25K since I presume we get diminishing returns on "marginal" wells, but the field keeps growing, so who knows? Still very, very strong cashflow and it will only improve (for some time at least) once they stop drilling, reduce CAPEX and just produce liquids - for a decade or more.
Oh dear - that SP is awfully close to Da Big Banana's 40 p prediction - aaah the Buy Back rescue canoe has difficulties launching from the new mega $$$$$ flood defences - river bank slip and slide away so much easier and cheaper and all them mega $$$$ could have bought shares - not that it matters another PSU is definitely on its way for sure by end of June the Jolly PSU RNS chant along shall appear
They'll probably tell you they're maxing out BB's according to what they're allowed to. That BS in my book, and a red flag.
They're usually pausing BBs close to dividend payments, I expect that's the case now.
Massive cash pile is only a good thing if you can scale production & DELIVERY! We don't have a problem with extracting oil. We have a problem transporting it. And that isn't going to change any time soon. It also doesn't explain why they are sitting on their hands whilst the sp is this low. They have the ability to do BBs, so need to get on with them.
. . . partly agree only as (a) a massive cash pile above all else is preferable at this stage of accelerated expansion, (b) current capex programme is likely to make a dent and (c) Manolo is in the process of several announcements / updates.
I don't believe Upland have any real plan for #8 and expect PeruPetro to be knocking on the door once more for another add-on. Furthermore news of the two pilot shipment schemes will be closer to hand followed by 3D seismic in the SE.
Whilst not in communication with the company, it is a long-term hold. Knowledge of Peru is poor but the country's monthly production numbers tend to confirm Manolo (a native of Talara) almost certainly carries a lot of clout in the industry.
On the subject of buybacks THS is 3rd largest holding, mostly because I know the Bushveld/Rustenburg and GreatDyke/Ngezi very well plus regular contact. Their bb programme is well established and the Redox initiative is underway. By contrast, despite setbacks, Manolo has always fulfilled targets. #131 34API is a perfect example.
Unlike one fella I am not going to tell him how to run his company.
I agree GGG. It's sending the signal that they are worried about cash, which is not good. Need restarting ASAP and ideally at a higher level per month.
I just sent an email to investor relations and PTAL to pull their heads out of their @sses and re-start buybacks. It's one thing to have such a p!sspoor level of BBs, but far worse when the SP is at this level and you have authorisation to buy shares. Suggest other who think the same to send emails. It might get mgt to give their brokers heads a wobble.
Started: BigBananaBoB, 5 Jun 2024 12:17
Last post: BigBananaBoB, 5 Jun 2024 12:17
AAah soooo sad - everybody now ignores Bob and his Reverse Split & Relist tune on the Titanic and tunes in to the PTAL "Buy Back - see them go Apollo" tune performed by Stiffle that deal and Co. Be afraid fellahs of the Amazon Parrot club be very afraid of a SP still in the 40's by Xmas
Started: BigBananaBoB, 5 Jun 2024 11:56
Last post: BigBananaBoB, 5 Jun 2024 11:56
Steady my Jungle drum beat heart - can we break out a Nebuchadrezzar bottle of Moet at the Savoy this afternoon for tea ??? Where is the Rocketing SP gonna take us ??? are we gonna climb the dizzy low oxygen death zone of Mt Everest ??? 45 pence - yes fellahs of the CatCanDo climbing club we are nearly there 45 pence - ooooh and only 7 months to go to Xmas what a xmas tree decoration thats gonna make huh chaps a 45 pence star on the top of tghe tree - AND with out a nasty reverse split and relist out of the "Swamp thing u make my heart sing" back water markets
Topped up another 12,950 shares :) attractive at these prices
Rylidan, completely agree. Mgt need to pull their heads from their @sses and instruct bigger BBs at this level. SP has gotten ridiculous.
Ah, wrong assumption from me about 4.29!! Can no longer see that trade data. Thanks for correction.
Rylidan -4.29 was the trade time, not the trade price. Trade price was 4.17, below mid-price so labelled as a sell.
Somekindofnut, you are obviously correct in your mid range statement, but the ask must have been above 44.5 at the time for this to record as a sell as 44.29 is above your mid range point!
Looks like the whole O&G sector is slipping back on lower prices. My I3E shares have slipped as well. Would be nice if oil could get back over $80. This still looks like one of the best O&G plays out there.
Last post: rylidan, 4 Jun 2024 09:17
Couldn't agree more GGG
They should put in place a graduated buy back policy with the broker. I've seen this on a few buy backs, not that it's been publicly disclosed (it can't be) but by analysing daily data.
For instance below 44p they could do 200k a day, 44p to 50p 100k a day, above 50p 50k a day as an example
Started: BigBananaBoB, 3 Jun 2024 10:40
Last post: BigBananaBoB, 3 Jun 2024 10:40
Oh boy - Parrot club where the actions - SEE that great volume in trades ??? tie my hands behind my back I can't stand the temptation - oooh my sticky bun light fingers - The Trades man 8shares, 2 shares, 3 shares, 9 shares........... the seismic shock is blowing the doors off the LSE and factor in that "Buy Back" avalanche why are we not a £2 a share ????
Started: BigBananaBoB, 31 May 2024 09:25
Last post: BigBananaBoB, 31 May 2024 19:40
Oh for crying in a bucket V - u r entitled to post your opinion - all equals - Magna Carta - The king shall not be above god and the law - Speakers corner old boy - the right to say what u wish without persecution for what u say as long as it is within the bounds of the thinking of a reasonable man - one to make u chuckle Karoi Boy - sister sent me a snappy snap via the mobile phone camera - thee old Chinoyi motel - time warp priceless the marula tree by the pool patio is loaded with fruit - cheer up no one I believe will take umbrage with your post - I believe the post was not meant in meanness - Taa taa Anculia - rememer Lions den and banket on the road to Zambia and the Clouds hotel ???
Normal market movements are okay. post
Following objection I have asked admin to remove my last post.
Also, in the last couple of weeks, I have been up at Humber Bridge and down at Portland Bill to see how effective the erosion controls have been. There has been no change along the dyke hiked in years.
Too early on the "hope springs eternal" SP rise on Ex Div Friday - normal ops restored a Achtung baby dive dive to 45 p and now for a little comforting Spandau ballet tune too the low 40's SP
Started: BigBananaBoB, 31 May 2024 08:50
Last post: BigBananaBoB, 31 May 2024 08:50
Aaaah yes so comforting - 61672 Sells and 12 buy trades - and no RNS from Stiffle that deal and co on the holy grail "Buy Backs" RNS and yet a small flicker of life the SP climbs 0.25p on Ex Dividend Friday - are we on our way to the Malcy's peg of £1.53 SP - I think I shall find me a doctor on the NHS to tranq my expectations.
Started: Gino73, 31 May 2024 07:54
Last post: Gino73, 31 May 2024 07:54
BBBB - It's easy for you to say!
Started: BigBananaBoB, 30 May 2024 23:15
Last post: BigBananaBoB, 30 May 2024 23:15
Here we go fellow members of the PetroTal Club - The amazon green parrot feather award Friday - will the comatose PTAL SP show a flicker of life when jolted by the ex dividend day defibrillator ???? are we going to end the flat lining SP heart monitor - Will we have a regular beep beep pulse rate back on the scope ??? Anculia clubbe ??? OR is going to be AAAggghoooogaaaah aghtung baby dive dive ????
Started: Sturm, 30 May 2024 10:18
Last post: LSE202020, 30 May 2024 22:52
Depends on how they got on with Ecuador pilot scheme+ Lot 131 (blending more to allow them to sell higher volumes to Iquitos). With just usual Brazil route I think they had estimated avg of 13.5k.
River levels below:
https://www.dhn.mil.pe/sehinav/histogramas_shna/archivos/Amazonas.pdf
It’s slightly on the low side but is maintaining its current level. In theory should be the start of change to La nina therefore wetter periods in Peru.
Some good numbers there lse. Big question is what they can deliver in the dry season. Does anyone know how river levels are going at the moment? Are they higher or lower than this time last year? Surely the Amazon is due a year or two of higher than average levels.
Latest production figures as at 28th May show nice rebound up. Potentially due to new well 18H coming online.
Lot 95
Last 7 day avg: 20,764
May avg: 15,450
YTD: 17,763
Lot 131:
Last 7 days avg: 811
Monthly avg: 795
YTD: 906
Combined YTD: 18,669
This has a very good EV:EBITDA, but I agree with Rylidan that risk needs to enter the equation. I'd add to that forecast EV:EBITDA numbers for the next 1-3 years. And reserves levels (be it for O&G or other commodities). These numbers give a better picture of whether they can continue to grow value.
PTAL ticks the box on forecast EV:EBITDA and reserves. The issue is risk, which is pretty big here. I'd love to buy more but the geo-political and environmental risks make me nervous. Having said that I have 450k shares at 48p so in fairly deep on this one. SP definitely a disappointment but 1.25p dividend at least brings down my average to high 46's. Woudl be nice if we can get another 2c divi next quarter. Reckon an average below 45p here is very good.
Think it's Star Bulk Carriers and Scorpio Tankers he (MT) likes in the shipping industry..
Another share that's going well is AET - I missed the boat on that one!
Last post: rylidan, 29 May 2024 16:13
GGG, the main issue is yields are very high on the London stock exchange. It also looks like the rolling 12 month yield will fall after the next dividend announcement. It's now looking far more like the "base" dividend while the river work is financed.
Still it's a healthy one, and the company should be able to easily support that. Happy to keep taking the dividends, but we need sales increasing to advance rapidly.
It's great value (dividend wise) at this price IMO, but traders aren't necessarily here for dividends.
Markets are just subdued at the moment
Herr Strumvogel - clearly stated in post - reverse split and relist - Und mein herr ich segen weer - need the SP above $4 to relist NYSE - NYSE is a market that is out of the swamps and on the radar USA Institutional investors who will grab and run with PetroTal shares because of cash flows, market Cap and dividend - the lets glue ourselves to the flood defences mentality on "Buy Backs" at the Petrotal loading docks Peru is having no effect on the SP old chap Anculia clubbe - Time for a change of plan - And as for the Malcy's blog SP reaching $1.53 well now that's up there with the second coming of Christ - if it happens this year that the SP reaches the dizzy heights of 70 pence I shall buy a pair of gumboots unpawn my African Bush Baptist kit grab my sheep crook and perform a Boolaah Boolaah dance in Trafalgar Square.
Amazing to think we can buy in the 45's with ex-divi just around the corner. Absolute madness with Brent at $85 and +900bopd just purchased. If we drop by quite a bit post ex-divi I'm going to jump in a bit harder. Getting silly now.
GTE SP has nothing to do with the reverse split and everything to do with the fact, that they're returning capital to shareholders via huge buybacks instead of dividend - and had nice results at Arawana etc.
I wonder why you think it's worth more owning 1 out of 10 shares instead of 10 out of 100. Buying or selling 1% of the company is the same price. I think you forgot why you wanted the reverse split in the first place (uplisting, which isn't happening) and are now so focused on the means to this end, that it's become a goal in itself.
Hello GiGi old chap - great post but u want to wail a little louder - today GTE rocked up US$0.78 to $9.28 - and really all they done to their company that is in worse financial state than PTAL is reverse split and relist - GTE P/E is 103 and market cap 290 million US $ - I can't wait for the granny crib to wade in - what a fantastic rise today PTAL 0.2p = that should trigger another 4 million PSU awards this week
Started: BigBananaBoB, 29 May 2024 12:58
Last post: BigBananaBoB, 29 May 2024 12:58
Well done StrumVogel old chap u finaly recognise GTE is out performing it's ex sister company - and if u could realize the difference in rocketing SP GTE is down too RELISTING NYSE and reverse split to do that RELISTING a miracle shall have occurred worth of parting the Red Sea.
Started: viable, 23 May 2024 23:03
Last post: Charlie156, 24 May 2024 11:19
If the active pilot at OCP has been underway in May at 5000bpd, then production for May is on track. Next operations update for 18H should clarify.
The 5 days of zero production on first week of May was potentially due to some community blockade (they are angry due to March's spillage) though i cant say for sure but for time being that's over as they will have meeting to discuss it.
Since that 1st week of May, they have been consistently having fiscalised production from 8th May-20th May (avg for these 13 days is 17,293) so that's fine. Also important to remember that YTD Lot 95 is about 17.5k but with acquisition of Lot 131, brings YTD figure to about 18.4k currently which is good to see.
Curious to know if they are not going as aggressive with Lot 95 prod (they have been doing about 17k avg since around mid Apr) purely because of the Lot 131 purchase or some other limiting factor.
Thanks viable. From what I can see we're tracking at 13.5kbopd for May - is this correct? If so they're going to need a very strong end of month and June to get us up nearer 20kbopd. April looks solid at 18.3kbopd. Final numbers should be helped by the 900bopd from the acquisition. Bottom line, looks like they need to get their skates on for May / June. GLA
Https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos
re: @ 16h22 Steady barge movements which may exclude Esmeraldas pilot
Interested to hear at some stage if Pucallpa refinery is to continue receiving 900bpd, i.e. to keep them operational
Logic suggests buyback habit will be maintained for as long as the PSUs apply and vice versa
PTAL pending further M&A etc likely to remain static for a bit