Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
PetroTal also engages in significant local social programmes in order to help reinforce its local licence to operate. The company has a strong balance sheet, holding US$85.2m of cash (zero debt) at the end of Q1 2024, supporting ongoing CAPEX investment and returns to shareholders, with PetroTal establishing a regular annual dividend of 6.0c/share from Q1 2023, implying a 10% yield at current levels. As such, PetroTal offers investors regular drilling news flow, strong and growing production based on a material asset, significant cash flows underpinned by the variety of export routes, an increasingly established dividend, and a strong balance sheet.
On PetroTal’s Block 107 exploration asset, permitting activities are ongoing, in support of a potential farm out in due course. Overall, this is a further statement from PetroTal demonstrating the company’s significant existing production capability, higher potential on further drilling and export route availability, strong cash generation to be had from this, solid funding position that this creates, and capability to take advantage of this via operational execution. Going forward we expect more of the same – cash generation supporting both growth CAPEX and shareholder returns.
The 18H well is now approaching completion and expected onstream in mid-May.
Pilot exports via the OCP pipeline through Ecuador continue, with the potential for this to add 5mbbl/d of capacity over time. Efforts also continue to establish a new route via Yurimaguas later this year – a further potential 5mbbl/d. We await further news on these and any other new export routes, including potential greater use of Iquitos post completion of the Block 131 acquisition
'' In terms of the Q1 dividend, this is today announced at 1.5c/share (ex-dividend date of 30 May), in-line with the company’s established base dividend level. This further demonstrates management’s confidence in the forward cash generating capability of the business, and its ability to continue funding both growth CAPEX (even allowing for the increased CAPEX programme) and returns to shareholders. ''
''The erosion issues around the Bretana field site are more extensive than previously assessed meaning the cost of the remediation programme is now expected to be higher (US$15m of the increase). These issues are also expected to hinder.the demobilisation of the current drilling rig (otherwise planned for Q2 2024), meaning this will now remain with PetroTal and be used to drill an additional oil well and an additional water disposal well, in H2 2024.
while it is inconvenient to see the erosion CAPEX increased, the balance of the CAPEX revision is more of a rescheduling, bringing drilling forward. Irrespective, the new budget remains well within the company’s funding capabilities. ''
I have i3e in my pf too, re earlier post, i3e have capital costs too, have reduced their divi due to cash flow, drills halt last year etc and situated in Alberta Canada they are located in the wild fire zone that occasionally affects operations.
PTAL has risks, all stocks have risks, unlike many stocks PTAL are seriously cash generating, excellent divi with oprtion of special divi when cash exceeds $60m, well managed financially, adding growth, and no debt....a lot to like
With respect if river erosion is not dealt with their is no river and its a vital part of the business, all businesses have 'outside' costs as it's part of business, hard to find one that doesn't, many have debt costs, etc etc
Lets try this again -
Dividend has not dropped, it was raised last time -
''Maintaining a return of capital program consisting of quarterly dividends at US$0.015/share and share buybacks of approximately $1.0 million/month in accordance with the Company's return of capital policy;''
''10. Dividends are assumed at the base dividend level of US$0.015/share and buybacks are assumed at $1.0 million per month''
The base dividend is USD 0.15 as clearly stated, the previous slightly higher dividend was due to extra liquidity as staed in the rns and PTAL have just bought a new producing asset as of yesterday -''Based on the Company's current liquidity exceeding USD$60 million, PetroTal confirms that a cash dividend of USD$0.02 per common share will be declared and paid in Q1 2024. ''
All stated clear;ly in previous rns for shareholders
Dididend has not dropped, it was raised last time -
''Maintaining a return of capital program consisting of quarterly dividends at US$0.015/share and share buybacks of approximately $1.0 million/month in accordance with the Company's return of capital policy;''
''10. Dividends are assumed at the base dividend level of US$0.015/share and buybacks are assumed at $1.0 million per month''
The bas dividend is USD 0.15, the previous slightly higher dividend was due to -''Based on the Company's current liquidity exceeding USD$60 million, PetroTal confirms that a cash dividend of USD$0.02 per common share will be declared and paid in Q1 2024. ''
If Carlsberg did rns -Generated Q1 2024 free funds flow of $53 million (10% quarterly yield) materially surpassing Q4 2024 levels, dividend of $0.015/share payable June 14, 2024, strong cash position with $85.2 million in total cash ($62.5 million unrestricted), with over $93 million in short term receivables due subsequent to March 31
https://twitter.com/surprised_trade/status/1788460891907723771
Interesting post on social media spotted earlier ....
Serica's CFO Martin Copeland told Energy Voice: “There’s an element to which you think, if we’re going to have Norway, we might as well have the full-fat version of Norway and actually go to Norway, right?”
Typically buy backs should provide an improved eps (earnings per share) over time and therefore a higher share price all things being equal. Buy backs should support an improved sp over time for longer term holders.
Dividend payments v buy backs is always a split debate and currently with a 23p total divi (14p final ex divi date upcoming in June) and a £15m buy back SQZ are satisfying both sides.
We await news on the possible Norway bid stated by Bloomberg on Friday, at least we know SQZ is pro actively seeking operations outside of the UK tax regime and who will be the new full time CEO ?
Four unnamed sources have told Reuters that Saudi state-run oil giant Aramco is in talks to potentially acquire Shell’s billion-dollar gas station business in Malaysia, where the Dutch supergiant owns a network of nearly 1,000 fuel stations.
Neither Shell nor Aramco would comment on the rumor of the talks for Reuters; however, one source told the news agency that talks began late last year and could be finalized in a matter of months.
A second source told Reuters that the deal could be worth over $1 billion.
https://oilprice.com/Latest-Energy-News/World-News/Saudi-Aramco-in-Talks-to-Buy-Shell-Gas-Stations-in-Malaysia.html
Investor meet - re share price not reflecting current value compared to peers, bod point to independant broker reports that go into detailed value reserves, etc and current view is sp should be around 20p+ the bod feel that with other catalysts sp could or should be even higher ...
Investor meet- targeting 8 oil wells first as oil prices are high and will target 7 wells later in year as gas prices rise, the plan is flexible and if gas does not rise they can move to drill oil instead with the aim of maximising profits and return on investment...
Added to I3E at 10.5p.............Brokers increase target to 21p from 16p on new drilling programme,
https://twitter.com/surprised_trade/status/1785977970236047504
Investor meet in progress state that I3E is currently trading at 50 to 70 percent below peers and regular news flow expected to add value going forward, no debt drill programme upcoming , gas and oil expected to rise over coming months.....I added at 10.5p this morning....broker has 21p target :-)