Member Info for Investor81

Hi Viable. The leak was stopped and it has now been clamped. Last time this happened I think pipeline took a week to be operational. Good job storage is available and ptal has the Brazil export route. I would say one of the reason we are valued where we are is due to this continued minor disruptions but hopefully going forward with the government cooperation this can be sorted.

'On the morning of today, Saturday, January 22, a clamp was installed in the area of ??the cut, as part of the hydrocarbon control and containment work.'

It has been fixed.

Production data to 20th is out. Just over 20000 bopd over last 7 days to 20th.

Look at what GGP got for Havieron and look at the value now after the major completed a load of work. Having less of something with a major involved adds more value imo as the major is generally better at getting stuff done hence the valued added by this deal is huge imo.

https://twitter.com/BurggrabenH/status/1484167478456561664?t=QA2d-VK8jwwmuQ1vMwmZhQ&s=19

'this is probably the end of the (Buffalo) project for us. We have enough on that’s value accretive for us to be focusing our attention in Western Australia,”'

https://www.energyvoice.com/oilandgas/asia/381042/carnarvon-gives-up-as-widely-anticipated-buffalo-probe-disappoints-offshore-east-timor/

It appears that pre buffalo acquisition the market cap was £4.5m.

The market cap is now £8m, almost double. This on the back of failure at Buffalo. When you look at it this way the drop seems to make sense...(?)

@luckyman2 why do you say they are still drilling?

@Bladey 9.41 post you say

'The rig is now setting and cementing the 9 5/8" casing before drilling ahead in the 8 ½" section hole to a planned depth of approximately 3,500 metres MD.

So they're defo continuing the drill... why would you?'

Have you taken this from the 14 January RNS and not today's? Genuine mistake or misleading...

Their share will be trading tonight.

Salary is a big expense. From the interim results:

'Mark Rollins (Chairman) and Leslie Peterkin (Chief Executive Officer) are entitled to a fixed monthly fee of $16,000 and $31,250 respectively payable in cash. Stephen West (Chief Financial Officer) is entitled to a fixed monthly fee of £16,500 payable in cash. The Non-executive directors, Ross Warner, Stephen Whyte and Larry Bottomley are entitled to a fixed monthly fee of $5,000 each payable in cash.'

Cash per the interim results at 31 October was 5.861m but there was note at the end saying:

'On 15 November 2021 and 22 December 2021, the Company received notices of cash calls amounting to $1,681,000 and $1,748,000 respectively from the associate entity Carnarvon Petroleum Timor to provide financing to cover costs relating to the Buffalo-10 well being drilled in the Buffalo field.'

That suggests cash position is $2.4m less any expenses between 1 September and now.

Salaries for 5 months for directors is about 400k.

Got to hope the company can pull off a couple of deals now and take it from there. Sorry day for all but at this level it's a decent entry I would say. Good luck all.

Copied from telegram.

Re cash position.

'At 31 October cash was 5.861m but there was note at the end saying

'On 15 November 2021 and 22 December 2021, the Company received notices of cash calls amounting to $1,681,000 and $1,748,000 respectively from the associate entity Carnarvon Petroleum Timor to provide financing to cover costs relating to the Buffalo-10 well being drilled in the Buffalo field.''

When is spud expected?

When is sold expected?

One key point to note is Kistos has Andrew Austin. Delivered previously with RRE, delivering with KIST and has a lot of money invested in KIST.

Extremely disappointing today. I am still hoping for the farm out to complete. Two reason I can think of for the placing:

1. Let mates in cheap
2. Cameroon delayed or wont happen

Let's wait and see.

Run of 0's have come to an end! Good luck all.

Totally agree. Protests and disruptions are part and parcel of investing in ptal. Been happening for years. The company needs to keep drilling and delivering and the share price will take care of itself.

Talara needs oil and petroperu have started oil and gas production again - the pressure is on the govt to resolve all the issues.