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A useful reminder and (cattle) prod. W.r.t your final sentence has any indication been given . . . it would be my lure ?

Like many, I remain cautious on SA investment. Next red letter day is 29 May. Always possible that Juju and his mates cause further mayhem let alone speculating on Eskom and Transnet woes. Glad we are involved in the GreatDyke, Ngezi. Also, if further expansion is contemplated, does Mpumalanga come into the frame ?

. . . no grumbles over a $500m cash pile. Every cent needed for flood control, further jetty/pier development if it is to remain the primary hub, a probable 5 mile pipeline for next stage SE expansion, Osheki/Constitucion exploration well, LosAngeles field, etc.

And Manolo has strongly emphasised "accelerated" M&A activity.

I have spent a fair amount of time examining TKO: the credentials are impressive but McDonald hardly generates/stimulates potential UK confidence in participating in the journey, i.e. dividend. Investors do not seem to have had any return on capital and the recent SP spurt could have ended. In the meantime management have shown an appetite for self-aggrandisement.

Wrong . . . confusing my measurements on "feet" and "metres". There is NO change on planned length. It's always been ~600 m.

We have learnt not to hang on to his every word but the first lateral @ three times the original planned length (with possibly 3x the number of perforations) may yet lift our spirits.

. . . but, crikey, this trend is incomprehensible. I was planning to return a month ago.

Https://matthey.com/products-and-markets/pgms-and-circularity/pgm-management

I hope the BoD are encouraged by the market turnaround. It's been tough . . ..

@ 15:51 . . . The Banana has pernicious OCD in view of his last admitted count of 100 GTE shares. I doubt he has any idea of the company's predicament or their buyback policy/practice. He certainly has zero current input on that bb . . . rather delights in taking a daily poke here. The stock remains illiquid in London. (Someone toss him another banana.)

Remarkable: We have one of the most comprehensive/diligent management teams and few seemingly bother to examine the reports.

"PetroTal is pleased to announce the intention to renew its share buyback plan of up to approximately US$3 million per quarter (up to a maximum of US$12 million in the current program), subject to formal approval by the Company's board and the TSX. Stifel Nicolaus Europe Limited ("Stifel"), will conduct the Program on PetroTal's behalf".

Furthermore the company will shortly be unrecognisable from its present components: new appointments are to "lead the company's accelerated growth strategy ". LosAngeles is merely a starting point.

Https://www.geologyforinvestors.com/have-we-reached-peak-copper/

. . . have been invested here for ~3 years and am perhaps over-reliant on the Roan eventually showing some spectacular results in our license area. The above link has been available for some time.

At your peril and hence my preference for noninvestment = a nontopic. I haven't checked their current interest payment burden but suspect anxiety levels are high.

"Gran Tierra Energy has a total shareholder equity of $396.4M and total debt of $528.6M, which brings its debt-to-equity ratio to 133.3%. Its total assets and total liabilities are $1.3B and $929.9M respectively. Gran Tierra Energy's EBIT is $174.1M making its interest coverage ratio 3.2. It has cash and short-term investments of $62.1M."

Terras caidas

The Ucayali in flood as it passes Bretana is a fearsome sight. I inspected literature on Amazon erosion last year and discovered most of the oxbow phenomena are mostly on the northern bank around the local area. The sudden anxiety on combating a potential problem illustrates how ignorant many are. There's a lot of literature available; perhaps a good intro is

https://www.bing.com/videos/riverview/relatedvideo?q=ucayali+eiver+bank+erosion&mid=BC31E72104D995D5D172BC31E72104D995D5D172&FORM=VIRE

Yurimaguas . . .

and Provencia news update keenly awaited.

#131 Cashabatay - formation

At 1400 acres, multi-stacked, present 4 wells on a 120-metre sands' payzone, shallower shale characteristics evident LosAngeles is going to be a useful add-on. (A fair amount of information shows up on the web.)(What is full license area?)

Have taken up some stock. Good to have Trevor, a safe pair of hands, as chair although he may consider retirement at some point . . . just a bit wary of Ramaphosa's survival post-May. SA needs another bank: Nedbank and Standard are basket cases and OuMutual will steadily increase its international reach.

Four producing wells for $5m, if it proceeds, is a gift. A token $1 payment would probably have resulted in SP collapse. Manolo must have been courting CEPSA, Madrid, ever since he mentioned light oil blending. (The Peru #131 field barely included one line in their literature.)

Https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos

Steady . . . but no record

Unlike AIM calamity elsewhere PTAL is bucking the trend

Very premature. MA, hardly your finest hour unless the three projected 600 m laterals' results are nailed on. Bad vibes to many

Yes, when I chatted with Shubham last year he was negative on i3E. He does, however, know AB province very well and has subsequently had a change of heart iro our acreage. The bumpy ride will continue until AECO TURNS.

Interesting times . . .

With GW possibly using his Meridian as workhorse I like the thought of him tying in PTAL with AXL across the border. If his ~£11m stake in the previously owned Canacol investment is confirmed a potential PTAL/AXL axis should be borne in mind. MA will be in regular contact with our NEC.

"Gavin Wilson is an Investment Manager for Meridian Group of Companies, a private investment company, which has a significant shareholding in the Company. Mr. Wilson was the Founder and Manager of RAB Energy and RAB Octane, listed investment funds, from 2004 until 2011. From 1992 to 2003, he worked with Canaccord Capital London, an investment banking company, as Head of Oil and Gas, responsible for sales and Corporate Brokering/Finance".

[My point on river works might be out of line: it was based on a dredger visual alongside a semi-loaded barge.]

It's not the only one labouring . . . and I am considering taking up some stock. Will make up my mind next week.