Member Info for Sturm

That's what I mean... the share plummets below NAV bco the Chinook miss (although could still be commercial levels of oil). I bought the dip Wednesday thinking that was crazy with the pending tests (and Royston). And then SP dips another 10%. Makes no sense. I hope easter will calm peoples nerves.

Cascadura - what's left to test? They did stop drilling bco. high gas pressure. Surely the odds of finding gas should be fair, if not high?

It's interesting to see they've got 36 million true up in ONP. That's huge compared to the 100 mio. bond. I truly hope they do not begin paying dividends before the bond is settled - but ofc. at this SP level it would be ok to spend extra cash on share buy back. P/E for 2023 is just a joke - need a higher SP.

Apart from the poor news, it's really poor communicated as well.
I really need some clarifacation re. what they did test and more importantly: Which zones are still to be tested and when can we expect results (or at least when do testing start).

Thx for sharing. A shame they didn't include a 2023(e) column instead of the 2018 - I know even 2022 is tricky (and very much so at least until Royston is tested).

With some 900 million shares, diluted, I dont think so. Volume is just extremely low. And SP is super sticky around 0,31 CAD and 18,25 ish. We probably need news (spud maybe) or numbers confirming that the pump has been replaced on the 4H well. Still 2 more months till we have Q1 report. Maybe 1 month for the 2020 annual report (that we probably just want to forget).

Volume is fair (above 2 mio shares) yet the price is just... sticky. With buys only? Seems peculiar.
Meanwhile I'm picking up a lot of small orders @0,305 CAD.

I know this is completely off topic but it's weekend and we're "just" waiting for news to confirm another world class find. So as a distraction: The world is going to need a lot of copper the next decades - what small/medium sized copper miners are worth looking at (proven at increasing production, preferably not in high risk areas) - tickers worth looking into?

Nice volume today. I wonder how the next production numbers might be - they'll hardly RNS the pump replacement. But spudding another well this month I hope. Still keeping fingers crossed for 20p - it's massively underpriced so it will come eventually.

Looks like we've broken the 18.5 wall. What's your target for May - before Q1 earnings come out (assuming it's late May)

With 3 rigs on T&T I hardly see any "big player" being able to push the exploration and development much faster. Why? No1 wild be "wild catting" random wells and you need test results to justify and optimize drills even as a major. And you'll still have to wait for NGC to get the pipes in/on the ground and get the paperwork done. It's not my feeling that T&T paperwork scale well.
Somebody said a company with no major shareholders could easily be taken over. Then mentioned a company. Might have been in this thread? I looked it up, IIRC SP had increased 10 fold and the take over wasn't complete. So go ahead and sell, should some1 make a take over bid. I'll sit back and wait for the 10 fold if that happens before the major targets are drilled and tested.

TXP is not a takeover candidate. Why? You're not likely to get majority below 20 CAD or maybe even 20£. Why? There are no major shareholders, but 1000s of PI's. Many with a lot of patience (we're still here) and many with 6 figure holding. No reason to sell before Ortoire is more explored and producing. It's going to be a complete nightmare to gain full control. Any takeover bid below 6£ - I'll just laugh TBH. Do you need 90% in Canada to delist?
Anyways - that's just my opinion. My long term target incl. dividend is 20 CAD/11.5£. And that's likely to go up once Ortoire is more developed.

Yes I know 500K is just a big drop. But 500K or multiplas of 500K add up and this has been going on for a while and should be a bucketload soon, if it's the same buyer.

No real news in the period between gas RNS and reserves report. After the gas RNS TXP was just above 2 CAD. So. No real news in that period, but still SP hit 3 CAD before tanking... And with the delays... No point in complaining about SP right now IMHO. Delays are just a reminder of how slow O&G is on T&T. We need gas production to come online (and IMO also focus on getting more production online - vs. exploration). Once test confirms the commercial value we'll be back >3 CAD/170 p fast.

I've lost track :) But over a long period we've had 500K buys (or multiples) on a daily basis. But no RNS on major shareholders yet? What's going on - any guesses - or more serious explanations? How long has this been going on?

Monkey_Junkey: Spot on. Lets convert gas to $ ASAP. Money in the bank always works and getting it this year is worth more than cash next year. Plenty of things to drill; start with were the money is. Focus on that, fix it, move on. It's Trindad and delay'do. It will take more time and finding "a sea of oil" is a diversion from getting gas cash rolling. GLA.

Yeah.... could have been RNS'd. I'm wondering if they're still unloading and maybe awaiting some final settlement. But anyways, it did happen. So now... When is the next coming and will it net more per barrel than ONP :D
I think they could "easily" avoid ONP and maintain production if they had a say 6 months warning (due to planned maintenance, whatever). Barges to Brazil and Talara should handle it without much trouble; you "just" need enough of them. The more they export, the better price they'll get - from ONP / PeruPetro since they need (desperately) the oil when Talara is fully upgraded this year.

Of course with OP at this level, I wonder if they call the full bond after 18 months $$ haha.

Doesn't look like the jungle drums beat too aggressively either:
http://proycontra.com.pe/aidecobap-se-reune-con-petrotal-en-iquitos/

500K buys EOD for a while? I wonder if those continue. That's 1/1800 part of the company each day - it does add up :P

This is from the March presentation (http://petrotal-corp.com/wp-content/uploads/2018/06/PetroTal-Investor-Presentation-March-2_-2021-Final.pdf)
Page 15: "Optimizing from first pilot, second contracted export pilot of 200k bbls **has been carried
out** in February 2021, with expected netback of $25/bbl at $53/bbl Brent

So.

They did communicate. Some ppl just didn't read it all ;) Maybe still unloading, since Oil transfer from barges to tanker takes approximately fifteen to twenty days, since... it's just a lot of oil :D

They're not as dependent on ONP as before:

"Should ONP be unavailable, Bretaña could maintain 20,000 bopd for ~60 days by using current available storage capacity of ~650k bbls, later increasing to ~700k bbls2"
+
"Should ONP be unavailable for more than 60 days, it could maintain minimum of 9,300 bopd thanks to monthly export capacity outside ONP of ~280k bbls4"

TXP is hit by delays and red tape, lack of material and so forth. 2 months delay is 2 months delay. No matter if it's from natives or from bureaucracy.

Completely agree Bully. I'd TBH prefer TXP to just let the oil stay in the ground until LNG is fully developed - and put some pressure on the government in the meantime.