The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Block #192 last news 2023
For pictures of the mess - https://www.earthisland.org/journal/index.php/articles/entry/aging-oil-fields-toxic-waste/
Comments of local communities affected
“We distrust Petroperu because it is a company of the government itself, they are going to claim legal rights to appropriate [our] land, in the name of the government. With this, they are going to try to evade their responsibility to remediate. They do nothing for the people. They trample rights.
In the city of Andoas, they do not provide electricity as they promised, there are constant failures and [the electric supply] only works for a few hours.
We, as part of the four river basins organization (Tigre, Marañón Pastaza, and Corrientes Rivers), Achuar of the Corrientes River, Quechuas, and Kukamas, have agreed that if there is no remediation of what is already contaminated, they will not be able to carry out the operation”.
In the words of Olivia Bisa, President of the Chapra Nation, “We are organizing ourselves, the six native nations of the northern Amazon; and we are going to go all the way to international instances so that the oil blocks are annulled. In addition, we are asking for an expert appraisal of the infrastructure of the Northern Peruvian oil pipeline”.
Reninmer Huiñapi, President of the Shawi Nation pointed out that “In order to get out of the crisis, the position of the six nations is that we do not need more oil activity. First, Peru has to solve several [social services] gaps, but with this government, we cannot debate or dialogue because we have seen a violation of human rights. We will be able to enter into debate with another government, to whom we will make our demands known.”
Tie me to the saddle boys - I am delirious with delight on the RNS news - the shares with voting rights level thanks to the buy back program is gonna break the 920 million shares mark.
Now to contain myself for the next 12.5 years till it hits 500 Million shares.
Reverse split 4 to 1 and Rocket that SP with a real market listing out of the Pinks
Howzatt for a Monday - Now that should get all the Grannies out there knitting yarn all in a knot.
Come on lets hear the same old sad lament how wonderful SP buy back is
Daggers me old hearty always been positive PTAL - I just don't have a death grip hold on my shares - as Riddler says profit and I am gone sold waiting for next buy back.
So far lucky hit some nice spikes and you know PTAL bounces with all the news so ride if you can.
Next bounce SP is 50p to 55p with Aug Conference call and RNS maybe 60p if all positive news.
And do I really have to high light the bad news bears that sink the SP >>> just for u then - barging capacity and deliveries Manus - ONP pipeline sabotage - barge hijackings - invasion of property PTAL dock, pumping stations blaah blaah.
U can bet your bottom $ if will have shares all the way to $1 SP and maybe beyond.
Trade is buy sell - holding for the after life shares sorry not a Pharoah getting buried with them.
Great post Vogel - lets see what cooks investor con Aug and RNS Aug with block 8 plans - reactivation pipe line thru the reads background was for block 192 feed to Talara
Meridian Capital are a enigma - they play outside the markets selling shares off book below SP to insiders.
Block 8 closed 2018 as it became a hostile area to be in - No bid were received to reactivate it - lima shut down social grants to Block 8 - 425 million soles - Manolo new appointment to PetroTal sent to Lima as a politico could be bearing fruit - research done on the links posted about Block 8 reveal an unerveing situation in Block 8 - Peruvian current Politics is a huge unknown and the awarding of contracts ??? PertoPeru green lights PetroTal for Block 8 - who knows hopefully the investor conference early Aug sheds some light and it is mention Block 8 in RNS end Aug.
AND Finally after all the background see
https://www.bnamericas.com/en/news/community-engagement-advances-for-peru-block-8
Reuters post Block 8 was background info latest news Block 8 seehttps://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/010521-commodities-2021-peru-oil-and-gas-industry-eyes-rebound
As said Conference call and RNS should clear up PetroTal and Block 8
V - Donner und Blitzen forum is on PTALF yahoo finance - in it listings TSX and possible moving out OTC market.
Sources Block 8 see links
https://www.reuters.com/article/peru-oil-auction-idINL1N10F3JX20150804
and why
https://www.bnamericas.com/en/news/community-engagement-advances-for-peru-block-8
V see the OTC PTALF forum for news/views block 8 bid .
If pipe line reopens and not used by PetroTal they have at least 800000 BO in it to be sold.
Block 8 bid close date was 23/6/23.
El Nino results in drought conditions Brazil.
Conference call early Aug and RNS later Aug should clear up whats going on.
Vogel if PetroTal shifts 500000 BO this month it will see it jump 10 p on SP - loggists on barges and water levels are against that happening until the wet season - of interest in the BNA post is cathodics repair team seems the are on the last of the repairs = just getting the pipeline repaired to pump will be another 10 p SP.
Fuhr Herr StumVogel und vreunde Rei und Riddles von der neue "Nigel" Abwhermacht.
Production capacity linked to barge totals - contracted barge services are 450 000 BO per month.
ONP needs to open or more barging capacity appears to shift gears on production.
Latest ONP news pipeline - more jumping up and down antics locals .
https://www.bnamericas.com/en/news/petroperu-denounces-a-new-attack-on-the-norperuano-pipeline
Rei - a good news post 4U - SP 50 to 55 pence end Aug 2023 with a good RNS out 23rd to 28th Aug.
Peru storm clouds. Vogel age not the value of those articles - Russian oil shipment quantities are - Russian oil is at a discount - China and India are sucking it up - affects spot prices for oil markets not Russian linked - it's no wonder why Russian exports are above pre Ukraine war exports.
Russian oil 20 to 30 % discounts - that has to affect "free market" prices.
https://www.iol.co.za/business-report/economy/perus-president-is-loved-by-ceos-hated-by-almost-everyone-else-29ce8ee9-b431-471d-841e-6cbd82b215d2
Vogel old buddy - treading material for the oil mill
https://think.ing.com/articles/the-commodities-feed-strong-russian-oil-flows-to-china210623/
https://think.ing.com/articles/the-commodities-feed-us-crude-oil-inventory-increases-sharply/
Riddles dear chap so comforting to know you have finally learned to read - now take the next step try comprehend what you have read - for a great nuts and bolts reality read Viables post pretty much sums up reality in the Amazon PetroTal head winds.
Great post V - especially fund participation - quite common knowledge US fund managers steer clear of penny stocks - hence the endless posts reverse split share where the SP is above $4 OTC markets - THEN List NYSE to attract fund investments - Wall street is King - anyone know why its called Wall Street - Built on the original fortifications New Amsterdam/New York.
The PTAL Bid / Ask price has narrowed for weeks - trading in the 38.5p to 40p range.
Stagnating which to me is an inflexion point - SP up/down - which way SP - ??? - depends on the Company factors production delivery and sales - which PetroTal has faced enormous problems - to once again list the factors affecting is pointless - just read the past posts on this forum - I believe Manolo has solved not completely but has reached workable solution to delivery and production given these factors - hence my bet which I have taken regardless of El Nina/Nino is SP 50p by Aug with my candlestick style trading in/out - I am not negative on PetroTal far from it - I dont hope and pray SP rise long hold - I take risk attempt to ride the wave - what I do see in the horizon relating to weather is European crop failures - The heat has been onPortugal, Spain, Italy, Greece for over two months - worth keeping an eye on basic crops futures - Early October will see massive crop shortages - 80% of the Earths land is in the Northern Hemisphere.
And a strange fact on oil - Russia over takes Saudi as biggest producer (so much for sanctions) AND Saudi has become a big importer of Russian oil - want to bet Russian oil is moving thru India, China, Saudi........ on to the markets
SP @ 50 p by Aug 8th RNS easy.
Milky & TRiddles learn to use your comprehension when reading u just state the same I said u- try Pidgin English - massa riddle him there reverse split knock numbers down - no take dee freefpoat up bvut massa riddles and Milky bar pleese we have all dat buy back moolaaah inna back pocket then we can use for what ever party we throw - cup cakes
Exactly Rei - the number of shares in issue reduces on a reverse split - the value of the free float is still the same and a massive reduction in shares available to short as Riddles claims buy backs free float limits shorting if I understand him correctly.
Buy back shares and voiding them increase free float as I see it but it is not enough to bring down the total number of shares in issue as 156 posted - the whole buy back program is a drop in the bucket of shares issued - far better to reduce number of shares by reverse split IMO and use the buy back for a special dividend payment - I can not see why all the fuss - 4 to 1 reverse split leaves the company with - 230.5 million shares in "Free Float" if SP remains the same "same Market Cap $619 million" boosting the shares to in terms SP LSE £1.60 and BONUS $80 million buy back kitty intact available for what ever purpose PetroTal deem - not rocket science - just bean counting.
It fascinates me the head in sand attitude to reverse split - where but buy backs are the written in stone path forward to increasing SP.