Member Info for Sturm

Just saying that people selling @-11% today are silly or scared IMHO. And I'm sorry for your loss in TXP and all the negative feelings it sets in motion. Better luck next time, Joey.

CEC for Cascadura was August 17th. So I'll still argue facility progress has been much better than Coho, which is a dwarf compared to Cascadura. If they can keep accelerating, we might just about be in normal/acceptable mode in 2 - 3 wells time ;)
As expected, volume is at PI level. It's not bought or sold on fundamentals right now; a 17 million £ drop on market cap is of course just silly, especially since we've got drill results incoming in March. Silly, scared people. What is it Buffet says...

I guess it will come as a relief for many that the update was quite specific, a new PR company is involved and the date from NGC is EO june. Personally I expected facilities done with a small delay, but approvals, etc. to take 1 - 2 months. So not the end of the world and worlds better than Coho IMHO. I guess some would argue we lose 5 - 10 million netprofit; that's a few percent of share price/market cap... which is driven (IMO) by PI's right now - so it will be interesting to see if the update on progress + PR is stronger than the negative (but somewhat expected) delay. We'll know in 30 mins; I have no clue - here for the long run and hopefully 10+ cad incl. divs over the next 5 - 7 years.

The list of #PTAL's mistakes, especially on the financial side is very long (warrants, oversized bond, lack of promised acquisition, premature dividend, lack of OP hedging when leverage was high, II focused, abundance of PSUs, etc. - that was just from the top of my mind). Also failed to secure distribution (barges - even buying and operating would have led to bigger net profit) - and also failed to deliver exploration of 2-3 prospects - also cf. their IPO.
So.... all in all PTAL would have faired much, much, much better with more qualified management, especially the CFO. People just don't QQ about it all the time and respond to every constructive post with the same negative broken record.

Don't patronize me, DH. I think everyone and their mother have received your message 1.000 times (give or take a few).
Disclaimer: I did't read your post, just the first 4 words.

Guys, 45 days is ok to go without news IMO (apart from SoMe pics etc, which are just icing on the cake).
Last update was February 6th and "within 45 days" give us one month more before we should expect, or rather "demand" news.
I still assume Cascadura is progressing as promised, ie. TXP's share of the work will be completed in Q1, cf. "We are currently targeting completion of the facility by the end of the first quarter of 2023." That's the latest update. They have no control over NGC and approvals, but it would be silly to assume that they're not trying to facilitate the speedy progress of this and it's at least 50K USD / day in lost taxes so motivation should also be high from T&T.
Next formal update will be 2022 ER, probably out around March 28. So we might get a drill update March 23ish and then the ER with Cascadura update, etc. EO March.
So just chillax for a month. Funny how #PTAL also fail to deliver on the potentiel but maintains a reasonable fair SP, contrary to $TXP. It really makes you wonder if trash-talking, repetitive negative posting does help the SP, since number of post @ PTAL is very small compared to TXP. I think someone even linked a research note once, documenting that AIM listings with many posts faired worse than the silent ones.... so... hush... :) for a month and then let's all go ape sheit crazy if they fail on next update.
TLDR: ER Q3 stated that Cascadura is expected end of Q1. That still holds. So QQ about something else. Preferably another stock.

No matter what, oil from Bretana only leaves in barges. And net profit is highest in Brazil. So the more barges we can send to Brazil, the better. ONP should always (at least untill they pay the same as Brazil) be second choice.

Joey - it's in a downward trend because it was simply too expensive 2 years ago. And right now people have been positioning for the next leg up; hence we have no volume, and we're not likely to get that before we get news in March (mediocre reserve update, hopefully good news re. Royston - 23 March? - and a Cascadura update at the latest when ER 2022 is done EO march).
With recent developments (Royston drill and Cascadura en route) it's arguably too cheap now.

"Sell" is correct. Price was 41.56. That's closer to the bid price (41.50) than the ask price (42.00).
Hence it's marked as a sell. Had the bid price been 41, it would have been tagged as a buy, since 41.56 is then closer to 42.
TLDR: Watch the share price, buys & sells doesn't matter.

What do you mean. I sold those shares. So clearly it was a sell.
(Just trolling, but I think you get the point).

Next production update better be good btw.
47% of the quarter is gone and they've only reported 328K BOO; target for Q1 is 13.500 BOPD (midpoint), meaning they'll have to produce > 18.800 BOPD for the remainder of the quarter. They'd better get their boogie on & I hope they've got barges lined up now.

Casca: Looks like the pipeline is getting somewhere... and fast.
I still hope work is done in Q1 and we "just" have to wait for approvals then. Scaling up production would - I guess - also take a bit of time. So not from 0 - 90 in 1 day.
Reserve update in 3 weeks is probably not trigging anything in the SP so I hope we'll get a production update at the same time - and we will ofc. get one in the 2022 ER end of March.

Nice - "This graduation to the TSX is an important next step that will help increase our global investor base and offers a greater platform to expand our value proposition."
Going to help SP - I guess some ETFs will include PTAL when it's complete + more investors getting PTAL on the radar.
Some share buybacks from June (warrants gone) should also help (and dividend too).

02/13/2023 https://diariolaregion.com/web/petrotal-pago-cerca-de-us-23-millones-de-regalias-el-2022/
Link appears broken - google translate cached:

Resources are earmarked for oil canon transfers to Loreto, among others.
PetroTal paid close to US$23 million for royalties during 2022, according to Perupetro figures.

The 2022 figure is double the amount paid in 2021 ($10.3 million) and is more than seven times the amount in 2020 ($3 million).
The royalties paid by PetroTal, operator of Block 95, are the main source of the oil canon that Loreto receives. According to Perupetro, in 2022, the region received S/ 215 million for this concept.
The oil canon is distributed to the Regional Government, provincial and district municipalities, as well as universities. Its main purpose is to finance or co-finance public investment projects.
Development Fund
In parallel to the payment of royalties and taxes to the treasury, PetroTal contributes the value of 2.5% of its production to the Puinahua District Development Fund, an initiative that promotes the progress and well-being of the district where the Bretaña Norte del Lote field is located. 95.
The process for the formalization of the fund is currently underway, which requires the signing of an addendum to the License contract for Block 95 between PetroTal and Perupetro, authorized by the Presidency of the Republic through a Supreme Decree.
The addendum, which has been approved by the board of directors of the company and Perupetro and which has the support of the social organizations of the district (JAP and Aidecobap), establishes that PetroTal will make the contributions as long as the production of oil and its transportation in the district are not paralyzed by social conflicts.
It also indicates that the fund will be used "solely and exclusively" to finance development projects in the towns of the Puinahua district.

Well volume remains very low... so once we have news (good news that is), what do you think will happen. Not a lot of sellers left as it is; people have been positioning for a while I think. Once volume and momentum kicks in on good news we'll hit 1£ very fast IMO.
I hope those ranting about management X, Y & Z use the 1£ as an excuse / reason to sell and X my fingers for new owners not having the same broken record.

"Production looks lumpy, but it isn't. It's just fiscalized in batches, so they might report 0-0-10K-20K-10K when production is just 8K-8K-8K-8K-8K..."

@ Supe - I think 100 mio. USD in net profit after tax in 2025 is highly likely based on Coho & Cascadura incl. condensates.
30 million in dividends/paybacks should be doable; rest goes to Capex. Hopefully Royston/Krakken, etc. will increase netprofit, however succes also increase Capex for some years. I'll be very happy with 25 - 50 million dividend/buybacks in 2025.

Regarding diluent - just looked at the latest presentation. Costs have increased. It's (to Iquitos) 5.5 USD/barrel but we get 2.7 back when selling, so effectively 2.8 USD/barrel (that number was around 1USD 2 years ago).
Part of the bond was meant to finance buying another oil field with light oil, so we could avoid diluent costs.
Why we didn't acquire anything... beats me... Also annoying to have read about Osheki since the IPO - yet, nothing happens (apart from some can-kicking in the presentations).
"The Osheki prospect is expected to be drilled in 2019"... Outright lie to finance Bretana/IPO? Guess we'll never know.

It might end up being exported, but the report is "just" fiscalized production. (So oil in the ONP and pump station storage has also been fiscalized at some point).
Perupetro fiscalizes at Bretaña to calculate royalties, Petroperu fiscalizes at Saramuro (Pump Station 1) - but not so much at the moment.
Sales via ONP will btw. be 1-2% higher, since these numbers are CRUDE oil, but it's diluted with gasoline/petrol; crude that is exported to Brazil is not diluted and one of the reasons net profit is better (than iquitos, much better than ONP).
Basically ONP sucks compared to Brazil :) We need more barges! :)
Production looks lumpy, but it isn't. It's just fiscalized in batches, so they might report 0-0-10K-20K-10K when production is just 8K-8K-8K-8K-8K...
More storage is also welcome since it adds some flexibility.
And more barges...
More! :)

They've produced 263,135 in January (fiscalized). Iquitos get's maybe 50.000. Where do you find the export numbers?
I really hope they charter more barges. Or even buy them, if that's the only option.
We'll not be done pumping the oil up when the world stops using it (or cut demand to uncommercial levels) at this pace (reserves going up and production (or rather sales/distribution) slacking).