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UK PM Truss: Will Make Parliament Statement Thursday on Energy Plan. Need to Increase Energy Supplies Long-term. Will Open Up North Sea Supply, Build More Nuclear Power. Will Make Sure Our Energy Plan Supports Businesses and People.

https://twitter.com/Sino_Market/status/1567469665869529089

At last some common sense ...

https://twitter.com/Sino_Market/status/1567469665869529089

UK PM Truss: Will Make Parliament Statement Thursday on Energy Plan. Need to Increase Energy Supplies Long-term. Will Open Up North Sea Supply, Build More Nuclear Power. Will Make Sure Our Energy Plan Supports Businesses and People.

https://twitter.com/surprised_trade/status/1567471344073179136

Labour want Wind fall taxes, corporation taxes increased etc. Liz Truss says no Windfall taxes, we want investment not deterrent
Truss also states she wants more investment in North Sea oil and gas and will make it easier to do for Oil companies to ensure continued supply and security

Re broker target price...''Our target price is £1.30. We forecast that YE23 net cash will represent 90% of the current market cap.''....

Todays RNS with appointments further strengthen the team with Jon Harris formerly of GKP (& his dividend policy) looks a good fit with the earlier statement below re shareholder returns ...

''an accretive shareholder return policy to be examined and approved in Q4 2022, if it is, as expected, economically viable. ''

'These results are historic but speak for themselves and Kistos goes from strength to strength. I expect more of the same from AA and the exceptional management team both in terms of organic delivery and of course further deal flow'

Malcy's blog 7.09.22

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PetroTal delivered solid Q2 2022 financial and operational performance highlighted by record production rates, record cash flow, and a robust balance sheet profile with a substantial net cash position

Q2 2022 Financial Results

Record revenue. Oil revenue was $118.4 million ($89.04/bbl) compared to Q2 2021 of $42.8 million ($53.20/bbl) and Q1 2022 of $92.7 million ($66.41/bbl).

Record net operating income. Generated record NOI and EBITDA(a) of $98.6 million ($74.13/bbl) and $93.4 million ($70.26/bbl), respectively, compared to $29.7 million ($36.88/bbl) and $26.4 million ($32.87/bbl), respectively, in Q2 2021 and $64.2 million ($45.96/bbl) and $58.7 million ($42.58/bbl), respectively, in Q1 2022.

Record Q2 and YTD 2022 free cash flow. Generated record free cash flow(a) before changes in non-cash working capital and debt service of $69.4 million. Total free cash flow for the six months ended June 30, 2022 has surpassed $100 million

Record net income. Net income was $84.2 million an increase of 31% over Q1 2022 of $64.5 million and significantly exceeding $11.4 million in Q2 2021.

Balance sheet reflects a record net debt/(surplus) position. Net debt/(surplus) was approximately ($79) million as at June 30, 2022,

Large net derivative asset balance. The total net derivative asset on the balance sheet as at June 30, 2022 was $56.8 million

Operational and Financial Highlights Subsequent to June 30, 2022

Bayovar Export Realized. As announced on June 16, 2022 and July 5, 2022, Petroperu delivered approximately 550,000 barrels through the ONP to Bayovar and exported nearly 720,000 barrels to an international refiner. The Company expects to receive $53.9 million from Petroperu, net of usual ONP fees and adjustments.

The 13H was spud on August 24, 2022 and is estimated to be on production by late October.

Current total cash as at August 15, 2022 is approximately $115 million not including outstanding amounts owing from Petroperu.

Many milestones have yet to be achieved, however, the initiatives remain on track and functioning as planned with more formal updates on this to come in H2 2022.

there's no problem, far from it, the trading update a few days ago was simply excellent as is the forward look.....mm's are simply adjusting the algo's on oil/gas and 'pricing' the sp of many oil/gas stocks on Brent movements rather than the individal companies profitabilty etc......it provides opportunity imo as the fundamentals always catch up sooner or later ...another major clue, mm's will take any amount off you, even on any drop here, providing a clue to the fact that there are very willing buyers around, and who wouldn't at these levels .

RNS ...
on 1st September 2022 that James McCarthy, Chairman, on 1st September 2022 bought 65,000 ordinary shares of 0.25p ("Ordinary Shares") at a price of 119.7p per Ordinary Share. Following this purchase, Mr McCarthy has a beneficial interest in 1,000,000 Ordinary Shares representing approximately 1.1% of the Company's issued share capital.

The Company was also informed on 1st September 2022 that Robbie Bell, Non-Executive Director, on 1st September 2022 bought 100,000 Ordinary Shares at a price of 119.7p per Ordinary Share.

From today's reaction you could be forgiven for thinking they had sold ....

with respect radium1, I only just discovered you are part of a group who enjoy arguing over tly and trmr, fair and open debate with details is fine and a benefit to all, however, I am not interested in arguments, your personal issues with others is for you and them, I'm not getting involved in your on going 'battles'...good luck with your investments

we all have differing views it what makes a market, good luck with your investments :-)

On the back of todays oil cut by opec and Russia totally stopping supply of gas to Europe etc. it all points to a massive acceleration into hydrogen and other renewables once we get through this period, the West will not rely on the middle east/russia etc for enegy going forward.....CWR only going one way over coming months as the race increased dramatically today

or the costs will be managed as previously, winter always see's increased cost as we know, so nothing different there however, what we do have is huge waiting lists that the governmet has said it will tackle in earnest (now we have a government from tomorrow) so I would expect some mitigation against cost with new contracts etc.....backlogs aint going away and there is a commitment to treat people asap, that invariably leads to a higher sp

to be fair, any increase in production is always great, however, on current levels and with current prices the value here keeps growing exponentially with current production (or even less !)...it's a win win situation at present :-)

to be fair , other than oil and gas, what sector does not have headwinds ?...at least we know TLY have been growing, a very decent cash pile and their services are in ever growing demand with massive waiting lists and TLY have established themselves as a go to provider for the government/NHS

someones taking advantage with some consistent nice round block buys :-)

bit of an over reaction to chairmans statement....equally the chairman needs a bit more thought into his statement...face palm ....hopefully a bit more context will be provided on the back of growth and profits to date ..

part of latest broker note ...

Cash up by US$40 mm in just 45 days.

PetroTal has secured approximately 420,000 bbl of export barging capacity for August plus 60,000 bbl for the Iquitos Refinery which has allowed production to increase to 19,000 bbl/d since August

PetroTal’s cash position increased from US$77 mm as at the end of June to US$115 mm as at August 15 is testimony to the free cashflow generative nature of the business. (Note that this cash position excludes ~US$59 mm outstanding from Petroperu due to be received)

The shares continue to offer deep value and growth. We re-iterate our target price of £1.30 per share.

We forecast that YE23 net cash will represent 90% of the current market cap.

https://twitter.com/surprised_trade/status/1564937905885396992

mm's happy to take any amount of shares at current prices on the slight drop, I'm sure they are, I can wait, the figures speak for themselves

intersting re the EU , as they are unable to set/cap global prices of energy and there is no firm proposal as to how or what they would do ora mechanism in place...the EU is competing for oil and gas in a global market where they have little to no ownership, they are importers of energy .

As expected, Russian natural gas flows into Europe via the key Nord Stream 1 pipeline stopped completely this morning. Gazprom has said the "maintenance" will last 3 days.

https://twitter.com/JavierBlas/status/1564861452535713799