Member Info for Jungmana

After 2 weeks of getting rid of some traders who bought in the 50's, imo we are now ready for the next leg to 100p+ by the time Royston reaches TD.
Gla

And then thre is Coho, Royston , new licence round etc. Will be a busy year for txp

A reminder; target of 20,000 boepd end of year;
https://youtu.be/sgVSKhpfET8

Bought a few more today. I have a target of 150p but won't be surprised to see 200p+ this year when we get to 20,000 boepd production by Q4.

I agree with malcy here : " touchstone could be one of the big stocks this year"
From about 14 mins:
https://youtu.be/_zrrrIbF2RQ

A 1 million buy from yesterday. Take your positions this quarter before it zooms up

Liquidity Update

At December 31, 2022, the Company had approximately $120 million in total cash, of which $16 million is restricted. At the end of 2022, accounts payable were approximately $64 million, and estimated accounts receivable were $105 million, with $75 million from Petroperu and $30 million of current receivables from the Company's Brazilian trading partner. As announced on December 9, 2022, PetroTal finalized a repayment schedule with Petroperu related to the $64 million true-up revenue owed to the Company from the June 2022 Bayovar export. PetroTal has now received payments totaling $16.1 million, with remaining monthly payments expected until full repayment on August 1, 2023.

"Become debt free in Q1 2023 from full payout of the remaining $80 million in bonds and thereafter maintain a minimum liquidity balance of $50 million, distributing out available cash that exceeds this amount through a share buyback and dividend program;"

Most energy stocks being dragged down yesterday and today simply following the drop in oil and gas prices.
A good time to top as imo MOU 2 drill should be on now with TD reach expected in about 8 to 12 days time.

Should see 15 to 20p by TD and who knows how high on success. Imo £1 target in the short term.
A once in a decade opportunity here

We should get spud news next week. Rig in place, checks being done and should all be signed off soon. Am expecting rns by Wednesday/Thursday.
Gla

Here we go ,Spud within the next 7 days now imo.

From Malcy;
"This is a very handy Christmas gift from PetroTal to its shareholders and the shares celebrated with a 5% rise on a quiet day in London.
The CEO makes the points better than most could when saying that with 20/- b/d of production, still well below capacity and more to come from 12H once the ESP is brought into use.With the STF being nearly completed and the fine tuning of the positioning of barges it loks to me like the news we are expecting on January 18th should be good.
Once again I am in no mood to change my target price for PTAL, which I have posted at 150p per share for some time, with a fair wind behind these capacity figures and a continuing firm oil price the company is set very fair indeed."
https://www.malcysblog.com/2022/12/oil-price-petrotal-and-finally-3/

We only have to pay $1m on deal completion and then another $1m 6 months later

A good settlement and acquisition;

US$3.0 million is payable to Challenger Energy by Predator in cash, in instalments as follows:
(i) US$1 million upon completion;
(ii) a further US$1 million 6 months after completion; and
(iii) a further US$1 million payable once Cory Moruga field production first reaches 100 barrels of oil per day.

Added 104k shares there . Mou 2 should spud by early January imo.
I like the recent update.

A spud by late December is fine by me. Good update from all fronts and I like the positive engagement with the DECC.
Onwards and upwards

Just a reminder:
Q3 2022 Financial and Operating Results
The Company will release its Q3 2022 financial and operating results on November 17, 2022 and will host a live webcast at 9am CDT time. Please see the webcast link below:
https://stream.brrmedia.co.uk/broadcast/63590b2298f6352ab0eba9cc

That's exactly the case and rig should get moving to site pretty soon and I expect spud within next 3 weeks.

Spud by mid November at the latest imo;
"Rig 101 has been mobilised to a rack site (holding location) en route to Guercif for rig preparations whilst the access tracks and roads to the MOU-2 location have been upgraded and the well pad construction has been completed following a recent site visit by the management team to the drilling location."