Petrolatina Energy Share Discussion Threads

[ca5hworth] 06/3/2011 14:03

I think people need to have some info on where the managment team feel the next opportunity is coming from ... this will come from the Scott report I believe .. I can't wait ... but this is a speculative buy at this stage

[3ntrepreneur] 27/2/2011 00:55

shows its down 5% TO 41Pence is this correct because lately the system as been wrong.

i beleive target price is 90pence, am i right

[ca5hworth] 25/2/2011 13:22

excerpt from 2009 reserves report (full report is well worth a read)


I have bought on the basis of a good management team and an expected reserves upgrade from R/SCott resources update due any week now .. just my thoughts


As set out in the table above, the Company's proven hydrocarbon reserves principally comprise approximately 95 per cent. oil and 5 per cent. gas. Although reserves have increased across all categories, the largest increase is in Possible Reserves, reflecting the Company's discovery during 2009 of additional oil reserves at its Colon and Chuira fields. As these two fields are in the early stages of development, the reserves assigned by Ryder Scott relate only to that portion of the discovery for which well data is currently available. The Directors anticipate that further drilling planned for 2010 will serve to substantially increase these Possible Reserves as well as moving an element of them into the Probable Reserves and Proved Reserves categories.

[duncandisorderly] 25/2/2011 07:55

Had a run with the Ukranians with RPT, they don't even know what the word,"ethics"means.

Mind you I can't say I had a bad run as I made a good amount of cash but a lot of other pi's lost shed loads.

[peterbill] 25/2/2011 06:57

This is an extract from the last Interim results on the 30th Sep 2010 ... looks like the next one is due at the end of March. If they do carry on with the increases below should give a good lift to the shares.

Interim Results for the six months ended 30 June 2010

Ongoing drill programme continues to deliver significantly increased production and reserves

PetroLatina (AIM: PELE), the independent oil and gas exploration, development and production company focused on Latin America, announces its unaudited interim results for the six months ended 30 June 2010.

Financial Highlights
· Revenues increased by 111% to US$9.6 million (2009: US$4.5 million)

· Gross profit increased significantly to US$6.4 million* (2009: US$3.1 million*)

· EBITDA generation of US$2.2 million* (2009: US$1.1 million*)

· Basic EPS of US$(0.043) (2009: US$0.004)

· Entered into a four year Senior First Lien Secured Credit Facility of up to, in aggregate, US$75 million with Macquarie Bank Limited ("MBL") to finance part of the Company's planned ongoing drilling programme

[duncandisorderly] 24/2/2011 09:24

I had invested here when I saw director buying.Not so sure now as I see he holds too many ace cards.Does anyone else have any worries about the amount of the company controlled by Togi.This could be another case of ripping of pi's and investment groups and taking this company private once he has 75%.

[peterbill] 24/2/2011 08:10

double post

[peterbill] 24/2/2011 08:10

3ntrepreneur - 18 Feb'11 - 20:53 - 2949 of 2952
how many shares in issue and what target price does pele have?


Extracts from recent RNS's

PELE
The Company's issued ordinary share capital will consist of 104,624,266 Ordinary Shares with voting rights. PetroLatina does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares.

Mr Rodriguez is interested in 12,861,629 Ordinary Shares representing approximately 12.29 per cent of the Company's issued share capital. This holding includes 2,535,872 Ordinary Shares held by Lyan Financial Corporation and, 10,080,757 Ordinary Shares held by Rorick Ventures Group Inc, companies in which members of Mr Rodriguez's family have beneficial interests.

Mr Rodriguez also holds options over a further 1,000,000 Ordinary Shares and has a beneficial interest in Athos Enterprises Limited which holds warrants over a further 160,000 Ordinary Shares. The options vest over a three year period from 16 October 2009, and are immediately exercisable, in whole or in part, up to the fifth anniversary of the date of grant, at an exercise price of 44.5 pence per Ordinary Share.

TOGI and its related companies hold, in aggregate, 59,415,781 Ordinary Shares, representing approximately 56.79 per cent of the Company's enlarged issued share capital and warrants over a further 690,644 Ordinary Shares which are automatically exercisable if, and to the extent that, any exercise of the Company's other existing outstanding 1,282,625 warrants occurs. In addition, TOGF currently holds an aggregate principal amount of US$6.29 million of convertible 12 per cent loan notes due in June 2011.


So Mk Cap = 104,624,266 x 43.5p = £45.5M

Not sure how many warrants and convertable loan notes are outstanding, you can see how much TOGI have above ... when exersised or converted will dilute existing shareholders.

Also not sure of any target price, but with some positive news this may exceed recent highs of last year, hopefully.

[ca5hworth] 23/2/2011 20:37

well these days unless there is an RNS every 5 minutes on their shares no one is happy! This is a speculative share but at least producing and located in a good field with outside interest

[cerrito] 22/2/2011 22:38

The mind boggles as to what the price would be if the oil price was in the 60's and the Middle East was calm

[ca5hworth] 21/2/2011 07:59

Any views on the last operations update as to the potential of these activities? (inserted below)

Also ... the collaborative discussions mentioned first with RDS could spur some activity?

Middle Magdalena Block-VMM 28

A geological review of this recently acquired block is now in progress. Preliminary meetings have been held with Royal Dutch Shell, which acquired the adjacent block in the recent bidding round, to determine whether the two companies should co-operate in the exploration of these areas. The VMM28 block is thought to be highly prospective for sands of the type which produce in the adjacent Colon field, for channel sands seen in the Colon-3 sidetrack and for unconventional reservoirs. The Company currently has a 100% interest in this block

Proposed Work Programme for 2011

 Shoot 2D seismic and drill the first exploration well on the Putamayo-4 block
 Drill the Juglar-1 exploration well on the La Paloma block
 Commence the Company's full development programme for the Colon field based on the results of the Arcis seismic study currently in progress
 Conduct development drilling in the Querubin area
 Undertake a sidetrack for the Chuira-1 well based on the fracture study produced by Landocean

[3ntrepreneur] 18/2/2011 20:53

how many shares in issue and what target price does pele have?

thanks chaps

[outfly] 18/2/2011 16:36

I hope so, I am still 30% down on this stock, even after averaging down which I don't like to do. Just hoping that it will come good at some point. My B/E is 63P so quite a bit to go yet.

[gray1107] 18/2/2011 16:13

The loan repayment was to blame for that though. We may be resuming that upward trend.

[outfly] 18/2/2011 16:11

Moving again at last. 3/4 weeks ago when it moved like this, it was down again after a few days. Just hope it can maintain the rise this time. Perhaps director buys will help.

[ca5hworth] 18/2/2011 12:17

Director buys are not significant but actual holding is pretty big. It feels like management are pretty confident in what they are doing but wonder what the window is for their buys vs news ... The Scott report is due out before end of Q1 2011 so guess that means we have longer to wait?

[gray1107] 18/2/2011 10:48

We have a stake in both. Could be very interesting given we've only produced 4.8% of OOIP.

[ca5hworth] 18/2/2011 09:00

I am not fully clued up but is this relating to the field in which pele have a stake or THEIR LA field licence? Sorry to confuse bbut have read many of the RNSs and cant wuite figure it out.

Not a ramp .. just tryiing to understand more


13.12.10

Update re Geological Studies

PetroLatina Energy Plc
("PetroLatina" or the "Company")

Update re Geological Studies

PetroLatina (AIM: PELE), the independent oil and gas exploration, development and production company focused on Latin America, announces an operational update on its activities in Colombia.

PetroLatina has engaged Ryder Scott Company, L.P. ("Ryder Scott"), the independent petroleum consultants, located in Houston, USA to conduct a petrophysical and field performance study. It will then use the resulting data derived from that study to complete a reservoir simulation exercise on the Company's core fields. That exercise will include the Los Angeles field which holds approximately 89.7 million barrels of oil in place and has produced only 4.8% of that oil in place according to the last reserve report produced by Ryder Scott as at 30 November 2009. A similar reservoir simulation exercise has been commissioned for the Santa Lucia field. Data from these studies will be utilised by Ryder Scott to produce an updated assessment of the Company's reserves and resources as at 31 December 2010, with its report expected to be available during Q1 2011.

[luminoso] 17/2/2011 20:39

LSN - exactly.
Its possible, maybe, that 1P and 2P could have got to 10m bbls by now, I guess, but 100m is either a decimal point in the wrong place or a blatant ramp.

[lowersharpnose] 17/2/2011 20:05

ca5hworth,

Where did you get 100mm bbls from?

The RNS of 8/2/10


States 6.09mm bbls as of 30/11/09 - along way short of 100mm.

Update due anytime now.

[ca5hworth] 17/2/2011 19:40

It may take a while to get moving ... but am pretty sure it will soon. It seems to me that their reserves are around 100mbls ... anyone else know any different?

[cyfalafwr] 17/2/2011 16:33

I thought it was a signal when shedloads of shares were bought at 50p by the directors.It went up to 80p ,kicking myself for not selling then,I was too greedy as usual.80p again and i'm out.We need some news soon.Been stuck in a 40-50p channel for too long but WTFDIK

Regards

[jotoha2] 17/2/2011 16:12

WHy would he do that , he already hold millions , its a signal and a bargain at that ,news within 4 weeks.