RE: 150p target16 Jan 2023 16:28
G_G_G If they were just standing still how come they have managed to pay off all the debt . I as you also stated thought the only real down side is the amount of oil they can get to market and that was affected by the historically low levels of the river last year.
" PetroTal's Q4 2022 oil production was approximately 954,400 barrels (10,374 bopd), reflective of constraints during much of October and November 2022 due to low river levels, and the river blockade. Once the river blockade was cleared, the Company was able to ramp production from 1,667 bopd to 20,301 bopd in just two days and subsequently produce an average of 20,766 bopd from December 15 to 31, 2022. PetroTal exited the year producing 23,709 bopd on December 31, 2022 and was able to fill a backlog of barges that were on standby nearby the field. Production in 2022 averaged 12,200 bopd, representing 36% growth over 2021's average of 8,966 bopd."
I was under the impression they were close to filling all the storage tanks because of the problems with barging and not the wells declining production rates.