Member Info for Sturm

Tobin - What on earth are you going to spend that money on? What will hold cashflow back is NOT lack of cash (there's plenty + it's possible already at this point to draw on bank credits).
The constraining factor here is red tape with permits and environmental assesments taking 4ever. After that it's probably going to be more waiting on pipelines and logistics.
No point in dilution for the sake of dilution - we're on T&T time. Slow... but not steady :/
/Sturm

https://caretas.pe/nacional/conclusiones-iniciales-entre-el-gobierno-y-los-pueblos-amazonicos-del-circuito-petrolero/
"At the meeting, the PAAP-PAAE roadmap was presented and the socio-political problems of the oil circuit were discussed.
In addition, the imminent visit of a high-level State delegation to Station 5, in Manseriche, was coordinated. This delegation will be headed by the minister of energy and mines, who will attend with other ministers concerned."
"The PAAP-PAAE are optimistic that, this time, it will be the beginning of concrete actions that go beyond the signed paper and the promise that is never fulfilled."

I really would like to read this :S - I wonder what it says
https://gestion-pe.translate.goog/economia/empresas/pese-a-toma-de-la-estacion-5-petrotal-tiene-suficiente-petroleo-almacenado-para-su-operacion-noticia/?_x_tr_sl=es&_x_tr_tl=da&_x_tr_hl=da&_x_tr_pto=nui,sc

Rocketship - if you look at the 2020 production below, a lot of producers stopped or have very low production. The pipeline isn't economical at low oil prices. I think Savia operates in the Piura region - offshore. Same with Sapet. So probably not many producers "competing" with the pipeline. Anyways, if you wonder why delivery time is so freaking long with the ONP despite the short length, look at the height meters (hitting 2400 M iirc) and imagine it was build in the 1970s).
Can't really see any pro's for PetroTal using ONP tbh. With new double-hulled barges it's not need to have.
https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos

Sounds like the usual barges must be full soon.
Station 1 and 5 should "only" hold 240K each, so I don't know where the 400K mentioned in the article is from. Unless 240K is what PetroTal can access.
I wonder if they're going for the Pulcallpa Refinery - 2.500 BOPD idle capacity? It all helps and when they reach > 22K BOPD then ONP + Iquitos isn't enough.
More barges in "trains" to Brazil is probably the safer logistic bet.

Largest producer in Peru last month; netback at this OP is around 20 mio.
First 3 days of November also look fine and news on 9H should come in another week - maybe 2.
3 weeks till Q3 ER - so a lot of news incoming.

I wonder what #PTAL will do in 2 weeks time when H9 is complete (if on time). That amount of oil... Morge barges on route to take the production?
Also - next production data will be interesting. Last update October 27 is beginning to look old.

... and of course they might wait till 4 are done; what I should have written is that I don't expect any RNS untill at least 3 wells are completed :)

Scott I'm thinking they'll drill the 3 shallow targets first and then evaluate what to do next.

I dont expect any WD4 RNS until they're done with the first 3 tbh.

I hope #PTAL plans to rely more on barges in the future. Amazon is the most reliable pipeline and it scales very well ;)

Awesome getting 28,049 barrels on the 26th after the 0 the day before.
Another 1.4 million NETBACK for one days delivery.
17.3 million USD NETBACK so far this month.
Market cap 326 million.
Next (tech upgraded) horisontal well coming online in 2-3 weeks.
Risk vs reward?

He might suggest it, knowing it will fail (Mr. Popular). Fortunately this isn't UK or US and "first past the post" (!) so he needs a majority in the congress. The congress is fairly right wing, so that's not going to happen. New fields/concessions etc. might be via a state owned company. Consumer gas prices might be controlled in other ways regardless, I guess.

318.269 total, 19.552 the 24th.
Brent still > 85, netback /barrel still > 50 USD.
We also have another pesky 2,352,941 Warrant Shares incoming and still 66,749,055 Investor Warrants outstanding @ 16p.

It's a facebook post with demands as far as I can tell.

I wonder what they truly expect with demanding Castillo on site?
Anyways, this is happening the 27th:https://diariolaregion.com/web/comision-formada-por-el-congreso-realizara-sesion-descentralizada-en-iquitos/
I think it's also related to ONP oil spills (and yada yada yada). As we all know, PetroTal has had 0 spills and are on track to produce 25.000 BOPD from a single pad. World class if you ask me, with regards to environmental impact.
I seriosly wonder if PetroTal truly needs ONP; with the Amazon river "just there" it's not really needed from a production and distribution view. Yes, it takes more barges (because of the HUGE production we'll have) but if they can ship all production to Saramura, then more barges is all it takes to ship it longer distances.
Of course Peru needs the oil... so I think they'll step up.

Net Profit from the first 20 days in October: 13.5 mio. USD. vs Market cap: 272 mio. USD.
Once the next horisontal well is online and CPF done in the next months...

I don't expect this to blow over soon, and it's probably not the last time. But there must be a limit to how cheap #PTAL can be with serious cash in the bank and serious production lined up.

With the volume in mind, this might have been a couple of minor shareholders getting stopped out on (careless) stop-loss orders. Or it might be orchestrated by London shorters to be able to buy back & cover today at a lower total cost.
At the very least this proves confidence is still low - people clearly fear another Chinook RNS.
I guess we'll see Canada turn around today.

#PTAL already do a lot of work. Rest assured, it's just business as usual and Peru in a nutshell. It's also why you get the share at 75% discount compared to what it would be if it was producing in the UK or Norway.
Better (IMO) to just accept that social issues are not going away for the next couple of years. The environmental impact is very small for PTAL and the local people have no real interest in destroying anything of value (don't bite the hand...). ONP pump stations have been occupied so many times without any damage. So.... as long as they don't start shooting people and keep talking to them it will be fine.
Annoying? Yes. Expected? Yes. If you're surprised by this and it disturbes your sleep, maybe PTAL isn't the right place to be invested.
From their presentation:
SOCIAL
? Projects to encourage and mentor sustainable local development
o $1 million annual budget dedicated to social efforts
o Continuing COVID support to community
o Agriculture and aquaculture training to over 300 local families
? Significant local employment: Created over 150 local jobs in 2020
? Working with a network of NGOs, producers, and local and central government organizations
? Helping indigenous communities and organizations
Plus solar power projects.

As long as protesters stay there it's fine. I don't want anyone inside PetroTals gate and I certainly hope they keep it peaceful. #PTAL can increase distribution via Brazil in the short term (also much better bco cash flow), in the long run production I guess ONP is needed. I guess PTAL is doing what they can to improve the relationship with the local people.
I think it was mentioned in of the earlier PRs how long time unloading at Manaus takes btw.
https://www.dipromin.com/noticias/mineria/pese-a-toma-de-la-estacion-5-petrotal-tiene-suficiente-petroleo-almacenado-para-su-operacion/

https://petrotal-corp.com/wp-content/uploads/2021/10/PetroTal-Investor-Presentation-October-13-Final.pdf
80$ POO included now. (85 as well, some pictures are also updated). Netback @ 80 = 50 USD/BRL
3 year EBITDA @ 80 = 720 mio USD
3 year FCF @80 = 590 mio USD