Member Info for Steve17

Good to see and adds to already large holdings.

Give a degree of confidence. Patience and collect the dividends is the name of the game I think.

Quite a jump in profits and leveraged to the upside with cost control.

Like last week, heavy buying. Good to see the directors are showing confidence.

Good to see. Not just a few thousand.

Better be a very good offer, or no thanks, I will sit back and reap the dividends.

That does not read well.

Following on from my previous post, the following is taken from last year's final results:

"In 2010, ITV established a Pension Funding Partnership (PFP) with the Trustees backed by SDN, which was subsequently extended in 2011. The PFP addressed £200 million of the funding deficit in Section A of the defined benefit pension scheme and under the original agreement, a payment of up to £200 million was due in 2022. The existing PFP agreement was amended and extended to 2031. As a result of this agreement, payments of £94 million were made under the SDN PFP arrangement in 2022. The Group is committed to up to nine annual payments of £16 million from 2023. These payments are required if the Scheme is calculated to be in a technical deficit. This calculation is based upon the most recent triennial valuation updated for current market conditions. The partnership's interest in SDN provides collateral for these payments."

As expected, except for the following, which is very good news:

 "ITV Pension scheme in surplus following latest triennial valuation; removes a significant historic drag on free cash"

Which should push the price up.

 

Very cheap ... between $1-$2 per recoverable.

Update for the qtr tomorrow. Should be good figures given higher production and oil price.

MIRI is classified as a 'sucker stock' in Stocko'. What a mug was I. Lesson learnt, listen to Stocko'.

I'm getting out tomorrow, fortunately I have a relatively small number of shares, but I'll wait when (IF) they ever get to breakeven, which may be difficult with, I believe, the CEO pocketing £200,000 + per annum.

Excellent roductio increase:

PetroTal achieved average production of 18,518 barrels of oil per day ("bopd")

in Q1 2024, in line with guidance. This represents an increase of

approximately 23% and 54% from Q4 2023 and Q1 2023, respectively. Production

during the past 30 days has averaged approximately 20,500 bopd.

Cash down due to:

PetroTal exited Q1 2024 in a strong position with approximately $63 million of

unrestricted cash and $22 million of restricted cash for a total of $85

million at March 31, 2024. Restricted cash includes amounts reserved for the

social trust funds to be deposited at a later date. Cash liquidity decreased

from year end 2023 levels as a result of increased capital expenditures from

drilling program commencement in Q1 2024, March 15, 2024 dividend distribution

and revenue payments received in early April

Taken from MSN feed:

"Russian Deputy prime minister Alexander Novak said on Friday that the country’s oil companies will focus on reducing output rather than exports in the second quarter in order to evenly spread production cuts with other OPEC+ members.

Drone attacks from Ukraine have knocked out several Russian refineries, which is expected to reduce Russia’s fuel exports.

“Geopolitical risks to crude and heavy feedstock supplies add to strong (second-quarter) demand fundamentals,” Energy Aspects analysts said in a note.

Almost 1m barrels a day (bpd) of Russian crude processing capacity is offline from the attacks, affecting its high-sulphur fuel oil exports which are processed at Chinese and Indian refineries, the consultancy added."

Appears that $85+ crude price will be here perhaps for the rest of the year and beyond. Certainly the above has a significant impact, plus years of global under investment on the supply-side, as well as, I also consider that the general masses have become accustomed to relatively 'high' petrol prices. Other demand side contributors include the rapid rise of the the middle classes in India and their demand for travel, which in turn is fuelling the momentum in the numbers of planes and aviation fuel. A further significant demand side affect is the current red sea Houthi attacks that have resulted in commercial ships taking longer journeys around the Cape of Good Hope thereby requiring more fuel.

All of the above means PTAL will be benefit from high crude prices for the foreseeable and in turn cash should be rolling-in. So that begs the question, why hasn't PTAL's stock price moved. Possible answers include: the price has already moved 232% during the past 2 years and it needs a breather, with long-term holders taking some profits and de-risking; ESG - oil is just not the flavour of our time and so large institutions will no longer invest in the sector (which also in-turn impacts of supply-side investment); and perceived regional instability. However in respect to this point, at national level and largely at the community level PTAL (but not with everyone) appear to be well respected; Then there are private investors who glance at a stock paying very high dividend returns and without analysing further discard it as "too good to be true."

So, what can PTAL do to raise the stock price? As far as I can see, very little more than what they are already doing. They are increasing production, engaging with the local community, communicating with their share holders and paying handsome returns. So, I am comfortable with the price where it is, and look forward to making a top-up at the start of the financial year, whilst collecting 12%+.

Upgrade on income.

Perhaps they couldn't care less about the shareholders. Some may say that message shows the qualities of the person who posted it.

Me too. I will send them an email today.

Am I reading that correctly ... CFO making a v significant share purchase. That's confidence.

Have a look at the level of director pay for this quite small cap. The figures were flagged on Stocko'. If those figures are correct, then I'm shocked.

Very acceptable results ... Divi paument very welcome, as is share buyback, plus part IPO Para'.