PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Hi skn, I don't see that. For the last couple of years most PTAL production has gone to Brazil , but still has to be reported to Perupetro for royalty and tax calculations. The same will apply to Ecuador as a destination.
Happy to be proved wrong.
Incidentally Perupetro are now showing nine blank days for November.
Q3 results are due on Monday, so we will hopefully hear more about operations..
Here is Burford's summary of all cases ever entered into, concluded and ongoing;
Who is 'someone' meant to be?
I look forward to seeing your guesstimates. Don't forget to show your workings!
https://s201.q4cdn.com/169052615/files/doc_financials/2023/q2/1H-2023-Website-Table-FINAL-1194025-2.pdf
Maersk say here they hope to reestablish their shipping services in Manaus from mid November.
https://www.reuters.com/world/americas/amazon-drought-stalls-shipping-boats-run-aground-low-rivers-2023-10-11/
BTW Petrotal have now published an October version of their investor presentation on their website
The main problem seems to be further east - the amazon at Tabatinga (Peru/Brazil border) has run dry for quite a while now.
So the Manaus route, which takes most of Petrotal's production is out.
https://proamanaus.com.br/indexregua.php?u=regua-dos-rios&mes=10&ano=2023
Chris Bogart on Sky News talking YPF collection strategy etc.
From about 23rd minute..
https://www.youtube.com/watch?v=JQXtPrCpUJE
Thanks Gtx, but the month range referred to in the video is the range of dates within which Argentina took control of YPF i.e. 12 April to 7 May 2012. The recent hearing was to establish that date, and interest rate on the award. CB says nothing about when a judgement arising from that hearing will be made..
You can access the letter directly here;
https://www.greenhavenroad.com/investor-letters
I'd also recommend the Q1 letter which has a lot more detail on their original thesis.
This is another recent fund letter worth reading;
https://imonkey-files.s3-us-west-1.amazonaws.com/acml_2023-q1.pdf
And from the time of the judgement this blog is excellent on valuation, and possibly more importantly is written with a seemingly good knowledge of relevent US law..
https://lionelhutz.substack.com/p/betting-on-burford
Well done Neuquen Province - printing money!
https://www.reuters.com/business/energy/argentinas-neuquen-hits-oil-export-record-with-vaca-muerta-boost-2023-08-10/
We're on the same page then - yes free cash flow / working capital should materially improve soon.
When I said two years, I was referring to the business written in 2022.
And of course there's YPF/Eton on top of all that.
Strong disagree - look at page seven of the April AJ Bell presentation - the new business they wrote in 2022 should yield $900M future gains according to all the financial modelling they've done to date. If and when that materialises (in 2 or so years based on current case duration) that'll mostly be net profit/free cash and on a modest P/E of 10 the share price would be £30+.
And that's ignoring that there is a YPF case pending..
Viable, the river level shouldn't be a problem this early in the year. Another page from that site has a 120 year high/low history, and the low is generally in Oct or Nov. I forget at what depth bargeing becomes difficult or reduced load, I know PTAL have mentioned it.
https://www.portodemanaus.com.br/?pagina=niveis-maximo-minimo-do-rio-negro
Hi VM,
Here's the response I got from Interactive Investors to the same question a few months back;
"Thank you for your Secure Message.
The answer to both your questions is Yes.
We automatically apply the Canadian tax treaty to 15% and for SIPPS the withholding tax is automatically 0%."
That advice also accords with the treaty.
https://www.gov.uk/government/publications/canada-tax-treaties
Perhaps you should move your account from HL if they are going to misapply tax on the SIPP account?
The W8BEN form issue is a complete red herring too. This is a US form and so could only ever be submitted to the IRS . There is a Canadian NR302 which is equivalent, but customers only need to fill this in where their brokers don't have an automatic dispensation as being compliant with the Canadian regs.
That looks like badly worded and/or poor advice from HL..
Petroperu held a forum in Iquitos this week, on reactivating the pipeline, and pushing its importance to the region and country. Their goal is to get back to 30k bopd plus, and specifically to restore supply from Petrotal.. https://www.petroperu.com.pe/petroperu-participa-en-foro-nacional-que-promueve-la-reactivacion-petrolera-en-la-selva
Carlos Mora - who has produced some useful analysis of JSE in recent months - produced this short note on the buybacks the other day;
https://moram.eu/blog/