Member Info for Proselenes

Explains the strength today.

Its undervalued on what they already have (Coho-1 and Cascadura-1) and you get free shot at massive upside with Chinook-1 and Cascadura Deep and Royston.

It really is quite simple to tip this as a buy given its below what it should be on what they already have in the bag.

https://www.sharesmagazine.co.uk/

Image link below.

https://i.postimg.cc/g2b0qq6T/TXP.png

.

Josef Schachter commented on TXP this evening, video in the link below.

He is looking at 35 cents annualised cashflow end of 2021 and a 1.5 CAD target based on Coho/Cascadura-1.

Obviously any success at Chinook-1 or Cascadura Deep will raise that annualised cashflow and price target. Same goes for Royston when thats drilled in H1 2021.

All the upsides to that 1.5 CAD target are there, he is telling you now this is worth 1.5 CAD based on what they have already discovered (Just Coho-1 and Cascadura-1), thats why there is confidence in buying TXP now, its still about 35% discount to what it should be trading at based on whats been discovered so far (with Chinook-1, Cascadura Deep and Royston-1 all currently not in the price).

https://www.bnnbloomberg.ca/market-call/josef-schachter-s-top-picks~1982864

.

Finncap Update on TXP.

Risked NAV and target price raised to 68p.

13p of that is for Chinook and Royston. Nothing in it for Cascadura Deep.

Upside case is therefore should Chinook come in good, that will add another 40p to 50p a share, and also Cascadura Deep if it comes in good could add another ??p per share.

So in the best case, if they come in good, should be looking at perhaps 120p to 150p by year end as a RISKED NAV.

Lots more upside to come from those 20 new targets identified and currently not in the price.

Based on Coho and Cascadura-1 production expecting 4p EPS in 2021. That would be upgraded as well if Chinook comes in good, and it would be upgraded again if Cascadura Deep comes in good.

Basically, the story is all about upgrades, as we know. Just keep on holding and let the value build into the price with further success.

PDF file is on this link : https://ufile.io/idntcmie

.

They have added a top drive to the rig, so drilling will now be quicker.

Expect 30 days to TD. Spud will be end of July, with TD reached end of August. Any testing will then be September.

Background buy order being filled. You could tell yesterday with the drop down and recovery, they are looking for sellers. Often when they mark the price down early they are trying to get some sells..............easiest way to get sells is drop the price, this is contrary to what most people think..............

By my estimation we now have hit the stagnation period.

For the next 2 weeks volumes should be low with a wobble down and a rise up here and there (all being well with no market crashes).

I would expect the buying in by the short term herd to start on Monday 6th of July - they will all be buying in ahead of the expected reserves report mid-July and the spud of Chinook end of July.

So any long term holders wanting a top up should be able to do so in the coming 2 weeks imo.

https://www.proactiveinvestors.co.uk/companies/news/922017/eco-atlantic-oil--gas-a-compelling-opportunity-at-current-level-suggests-broker-922017.html

.

Strong buy rating applied to ECO from SP Angel and 120 pence target price.

PDF file in the link below:

https://ufile.io/utd7n58c

.

PTAL announcing that they are shutting in and going into hibernation mode. I would guess shut in for PTAL for maybe 6 months....... no debt to service so only ongoing costs will be G&A until oil prices recover and they restart ops when demand is back.

Looks like Peru is flooded with oil from the article below.

https://www.argusmedia.com/en/news/2103063-repsol-running-peru-refinery-at-30pc-capacity

.

https://www.stockmarketwire.com/article/6900458/Broker-Forecast-Peel-Hunt-issues-a-broker-note-on.html

30 April 2020

StockMarketWire.com - Peel Hunt today reaffirms its buy investment rating on [LON:PTAL] and cut its price target to 40p (from 51p).

.

Nice drone video of the Petrotal facilities at Bretana.

https://www.youtube.com/watch?v=-UcFVLkafQU

.

Couple of Tweets from Greg Smith.

Greg Smith @ATM_to_my_kids

#PTAL #TAL solid production and the only company producing in the basin. Cash flow at critical points in time are key. Should be seen as one of the best operating teams in LatAm. This company will be stronger on the other side because of NO DEBT which was a goal from Day 1!

Greg Smith @ATM_to_my_kids
·
They should be an acquisition target even with a huge premium. Building cash and paying down working capital over the next few months! With several good low risk wells to drill by a solid team IN COUNTRY!

Latest Arden note (PDF file) in the link below.

https://ufile.io/h9jt820j

Retain their buy rating but target price reduced and still very much into writing about the risk, presumably to cover themselves in case something goes wrong.

Nice little write up. (PTAL is dual listed.... London:PTAL Canada:TAL

https://seekingalpha.com/article/4339457-petrotal-debt-free-oil-producer-intentions-to-pay-4-dividend

.

Average of 22 days is now getting closer to 11K bopd offtake.

https://pbs.twimg.com/media/EWTzPu_XsAMyleF?format=png&name=small

.

TLW raised some money selling Uganda to Total and also looking to farm down exploration assets. Wonder if Total will take on more Guyana and become operator ?

From todays TLW RNS..........

-- In exploration, Tullow continues to pursue potential farm downs of its exploration licences to reduce equity interests ahead of drilling and further reduce costs

.

https://www.bnamericas.com/en/news/petrotal-pressing-ahead-with-peru-exploration-plans

PetroTal pressing ahead with Peru exploration plans
Bnamericas

Published: Tuesday, April 14, 2020

PetroTal subsidiary Petrolifera Petroleum del Perú has approached environmental authorities to advance the build-out of onshore block 107 in the Ucayali basin, Pasco region.

Information from the environmental certification service for sustainable investments (Senace) shows that Petrolifera has requested that the Constitución Sur location and associated test production facilities be incorporated into a previously approved environmental impact study.

The EIS covers the drilling of up to six exploration and six confirmation wells from platforms 26A, 26B, 28A, 28B, 32A and 32B.

Petrolifera recently submitted reference terms for a drilling campaign at Constitución Sur.

The operator highlights that the project in its latest request falls under the environmental protection framework for hydrocarbons activities.

In Peru, PetroTal also controls operating block 95, which this year through April 7 has averaged 9,612b/d versus 4,106b/d for all of 2019, making the area the second highest producer behind CNPC block X (14,638b/d).

Cenkos update on 88E in the link below:

https://ufile.io/r6a6jjxi

.

Might explain the strong buying at 0.8c in Oz ( 0.4p)

If its feasible to reenter in future and sidetrack the Lima formation, where they are pretty sure its oil........Lima's were nearly as big as Torok.

Case of hold and wait. I am sure more will come out at the AGM on Lima.........