Member Info for Sturm

New numbers look fine. Still hardly at max capacity, and can they handle H9?
However. First 14 days of November = 7.4 million in NETBACK (unhedged @80)
Really looking forward to next ER and update - H9 complete soon, CPF-2 and more storage compete soon.

It doesn't have to be PetroPeru barges doing the crude transport. Those barges may as well come from Manaus, Brazil or a third party. 2 shipments per month would be massive, if permitted and possible.

I did some digging in the Investor Presentation
11 days from Bretaña to Itacoatiara - that's what they mention here, pp 16:
BUT! "Oil transfer from barges to tanker takes approximately fifteen to twenty days"
http://petrotal-corp.com/wp-content/uploads/2018/06/Petrotal_Presentation_011221.pdf

And the refinery ;) -3.6340973807960513, -73.20600717751333
Amazon is just huge. Sadly no fair satellite pictures of Bretana (from what I could find)
https://www.google.co.uk/maps/place/Petroperu-Refineria+Iquitos/@-3.6336388,-73.2060395,1174m/data=!3m1!1e3!4m5!3m4!1s0x91ea1c478bbbd78b:0x4e0b25e05f863e3a!8m2!3d-3.6343563!4d-73.2060043

After 7.500ish for some days - back to 17,447 the 11th. Next update will be interesting.

Cheers Domus. So Coho-2, Kraken and Steelhead.
I hope they drill Coho-2 first, just to get cash rolling from that and also hopefully expanding credit options. What seems to be the biggest obstacle to monetize is getting production permits - so - the sooner they get Kraken and Steelhead tested, the sooner all the paperwork etc. can begin if we get commercial test results.

From a governance perspective there's no drilling Cascadura yet. No production permit = no production wells.
Coho-2 is probably another matter. Getting both Coho wells online would also open up new credit options I guess?

But what exploration targets can they drill with current permits?

Barging to Brazil takes 3-4 weeks cf. this, dated the 30th of December.
https://petrotal-corp.com/petrotal-completes-first-oil-export-sale-through-brazilian-terminal/
At full production >20.000 BOPD I would say they would probably need 40-50 20K barges to export 100% of production. That's of course just a guess and speculation. "Full export" is probably not an option; at least it will take a lot of planning.
Oil is fiscalized before export so there's no sudden "240K" jump in production numbers.
They expect 2 exports in Q4 - that alone is 22.5 million USD in netback (unhedged @80).

If we're (just) at 1.500 BOPD then we should have > 1 mio. more in profit in Q4 after royalties and Heritage cut (@80), and this should increase the following quarters when more legacy wells are drilled and bought online.
With the amount of net pay in the PS-610ST well i still wonder how much that will produce. Seems noone has a clue wether the 370 feet of pay is "expected" in these wells (plus: "The well also encountered 353 feet of gross sand in the shallow Morne L’Enfer Formation of which 349 feet is prospective oil pay"). The "stuck pipe" event was due to high pressure in a gas zone - and increased mud weight.

Maybe we'll get that Friday next week - else early in the following week.
We still need an update on H9 - fingers crossed that it's proceeding as planned (with new tech etc) - looking at the target it might be the best well so far.
We still have production trickling in. Hope to see some bigger numbers soon - more barges to Brazil!

If Q4 oil is hedged at say 75 and the rest is sold at current prices, expect a nice increase in cash in Q4.
Meaning the cash "situation" is not at all as problematic as some argue.
20% more revenue => much bigger increase in profit.
And we have one more well (with huge netpay - though how much will it flow?) coming online soon.

@pipe Low netback was due to hedge. Expect more in Q4.

Is it typical to have that many meters of pay in a single well in that zone?? I would expect much smaller pockets tbh.

I get the feeling that I'm the only one being excited about PS-610ST results. Currently being cased for oil production.
"Wireline logs indicate that the well encountered a total of 807 feet of sand and 370 feet of net oil pay at depths between 3,900 and 6,900 feet as follows: Upper Forest Formation 108 feet / Lower Forest Formation 236 feet / Upper Cruse Formation 26 feet. Total 370 feet"
What do we expect from that alone? Should be fast cash.

I would have thought the news re. PS-610ST with (maybe massive?) pay would have given SP some love.
Apart from that, just the reminder that T&T time is... slow.

What targets do they have permits to explore now? And to produce? What’s the time frame for permits?

Who can come up with one (just one) similar O&G company (i.e. with huge proven ressources) that was taken over and delisted with the no major shareholders at the time of the first bid. I bet any companies you might think of at least 5 bagged from the first "sucker bid".
It's not possible. And straight out impossible when it comes to TXP.
Lets say Company X proposes to buy TXP and currently hold 4-5%. How much more will they get with a bid of 5 CAD / 3£?
In come all the short-sellers burning all they have.... buy-buy-buy - and we're way beyond the sucker bid without Company X ever getting 10%.
So now we're trading at a higher range.... and the bid is obsolete. What now? 10 CAD / 6£ would probably do the trick.
5 would just make me go and pick up some popcorn.
Gotta love shortsellers. What a nice insurance and prolonged opportunity to fill the boots.

And where's Danawinner?

I think the article from October claimed #PTAL could produce at full rate given Brazil exports. I doubt it's easy to do so in the short run but if they were depending only on Brazil I guess it would be doable with some (months of?) planning.
Manaus is huge. 2 million inhabitants and plenty option for crude oil to be handled/shipped.

https://petrobras.com.br/en/our-activities/main-operations/terminals-and-pipelines/manaus-terminal.htm

Also: "The main river is navigable for large ocean steamers to Manaus, 1,500 kilometres (930 mi) upriver from the mouth. Smaller ocean vessels of 3,000 or 9,000 tonnes (3,000 or 8,900 long tons; 3,300 or 9,900 short tons) and 5.5 metres (18 ft) draft can reach as far as Iquitos, Peru, 3,600 kilometres (2,200 mi) from the sea."

@derbon - so just 30 million. I assume it's £. What is he going to spend them on. Just... roughly. What's the rough estimate (with the out of the hat - tada?) 30 million? It's not going to speed up production or permits.
So... what's the 30 million purpose?