Petrolatina Energy Share Discussion Threads

[optriyio] 13/5/2011 12:08

THIS OR logp?

IS THIS CHEAP? CASH ON BOOK? NEED THE NEXT SER.

[topinfo] 13/5/2011 11:48

Updated reserves RNS ...


NPV10

Based upon the average oil price received in 2010 ($79.43 per barrel) and as adjusted to actual prices received by the Company for each property, the Net Present Value at a 10 per cent. discount ("NPV10") of the aforementioned Proved Reserves was estimated by Ryder Scott at $94.5 million (30 November 2009: $71 million). The NPV10 of the 2P reserves totalled $138.8 million (30 November 2009: $140.3 million) and the NPV10 of the 3P reserves totalled $280.6 million (30 November 2009: $247.0 million).

The above NPV10 valuations do not take account of the exploration potential in respect of the Company's interests in Colombia which the Directors believe could be substantial. Furthermore, Ryder Scott's assessment does not include any valuation of the Company's Rio Zulia-Ayacucho pipeline asset in the Catatumbo basin.

Juan Carlos Rodriguez, Chief Executive Officer of PetroLatina, said:

"We believe the recently completed Ryder Scott report, combined with the various technical studies now nearing completion by other third party specialist consultants, provides the Company with a clear road map for further drilling later this year. I am confident that such additional drilling in a more effective and low risk manner will ultimately result in significantly increased production and reserves."

A copy of the executive summary from Ryder Scott's report will shortly be made available on PetroLatina's website at www.petrolatinaenergy.com. As in all aspects of oil and gas evaluation, there are uncertainties inherent in the interpretation of engineering data and all conclusions represent only informed professional judgments.

[topinfo] 13/5/2011 11:47

Bought in, seems totally undervalued and SER profits coming into this and LOGP.

[luminoso] 13/5/2011 10:55

Well, rightly or wrongly, I have bought more at these levels as although the last year's progress has been poor in many ways, the recent drop in share price seems overdone to me, unless of course there is new negative info to be revealed in the AR !!
Serafin, the pipeline, and a new drilling campaign to increase reserves are my basis for a hopeful future.

[don777] 04/5/2011 17:46

from recent rns, i guess they might explore the VMM28 before they do it on Putumyo-4.

they do not want to raise money too much from the market, so they acculamate the develop fund from the current revenue.

it might get $ 1.5-2 M per month after the expense.

when the new rig is available, it might develop colon right away to increase the production. because it is low risk and PELE can have the majority of the outcome.

i wish it will be mentioned in AR shortly.

[gray1107] 03/5/2011 16:32

"We believe the recently completed Ryder Scott report, combined with the various technical studies now nearing completion by other third party specialist consultants, provides the Company with a clear road map for further drilling later this year. I am confident that such additional drilling in a more effective and low risk manner will ultimately result in significantly increased production and reserves."

I'd expect they will be targeting further drills at Colon and Queberin in H2. All commitment wells are completed afaik.

Got a link to that Evo statement?

Edit: Courtesy of SpikeyDT on

[cash rich asset poor] 03/5/2011 15:54

Don't suppose you have a broker note? (or recent presentation for that matter?)

The fundamentals here look good but the company seems to be off the radar and pretty bad at updating the website, presentation, etc to entice in P.I's.

Any thoughts on the likely drilling schedule for H2?

[aishah] 03/5/2011 15:26

Evolution maintain Buy rating with 65p target.

[cyfalafwr] 28/4/2011 09:50

Ah yes down a bit !

[outfly] 28/4/2011 09:50

Oh yes it does, positive rns and down we go again.

[cyfalafwr] 28/4/2011 09:23

And the share price does not budge an inch either way !

[peterbill] 28/4/2011 08:50

Updated reserves RNS ...


NPV10

Based upon the average oil price received in 2010 ($79.43 per barrel) and as adjusted to actual prices received by the Company for each property, the Net Present Value at a 10 per cent. discount ("NPV10") of the aforementioned Proved Reserves was estimated by Ryder Scott at $94.5 million (30 November 2009: $71 million). The NPV10 of the 2P reserves totalled $138.8 million (30 November 2009: $140.3 million) and the NPV10 of the 3P reserves totalled $280.6 million (30 November 2009: $247.0 million).

The above NPV10 valuations do not take account of the exploration potential in respect of the Company's interests in Colombia which the Directors believe could be substantial. Furthermore, Ryder Scott's assessment does not include any valuation of the Company's Rio Zulia-Ayacucho pipeline asset in the Catatumbo basin.

Juan Carlos Rodriguez, Chief Executive Officer of PetroLatina, said:

"We believe the recently completed Ryder Scott report, combined with the various technical studies now nearing completion by other third party specialist consultants, provides the Company with a clear road map for further drilling later this year. I am confident that such additional drilling in a more effective and low risk manner will ultimately result in significantly increased production and reserves."

A copy of the executive summary from Ryder Scott's report will shortly be made available on PetroLatina's website at www.petrolatinaenergy.com. As in all aspects of oil and gas evaluation, there are uncertainties inherent in the interpretation of engineering data and all conclusions represent only informed professional judgments.

[the_boy_plunger] 21/4/2011 11:37

.........appears a nice fakeout move lower, doji reversal potential......

[ibs7491] 20/4/2011 20:47

luminoso,found it many thanks...

[luminoso] 20/4/2011 20:27

ibs7491

Yes there was a 5:1 consolidation .... but not before 2007. The exact date was 28th April 2008 - check rns archives to confirm.

[outfly] 20/4/2011 20:17

I really never thought that it would drop this low. Foosie up over two percent and this is what we get. It's about time the management released some statement to let investers know what is happening.

[ibs7491] 20/4/2011 14:52

wee bit of help needed for tax purposes was there 1 for 5 consolodation prior to 2007..tia

[adam] 14/4/2011 12:41

ok, so say annualised $4m revenue net to PELE.

Chump change.

Results last year were April 7th.

I'd like to see update on drilling plans as well as RZA pipeline utilisation

[patersdw] 14/4/2011 12:17

adam - sorry, my mistake, that is gross.

PELE share = 5500 MMcfd @50%, divide by 1000 (roughly) to convert to MMBTU1000, x $4.2562 per MMBTU = $11.7K.day, $1.07m/Q

PELE share is 50%, PetroSantander = 50%.

[adam] 14/4/2011 11:08

patersdw - how do you get $23k/day. Do you mean gross?

[adam] 14/4/2011 11:01

Serafin gas hadn't started until right at the end of the quarter (announced 23rd March)


1006 net production, but coy on exactly when they will be drilling again, just saying "Later this year"

Quarter production update can't include (much) gas.

They only announce here total and there were shut ins for pressure build up, so using previous announced figure of 5.5MM scf/d

Previous announcement here:

"Initial production rates from the first few days of continuous testing started with a flow of 5.5 MMscf/d of gas, a well pressure of 1,850 pounds per square inch ("psi") and minimal pressure decline"

I get 5.5m x 40% x 1020 =2.24 billion BTUs

1m BTUs @ $4.25 gives

2240 x 4.25 = $9.5k revenue per day.

= $3.4m per year

I am not sure if my calculations are correct because I am assuming they have 40% of Serafin, yet their gross to net figures indicate it is 46% (gross production of 95.98 MMscf versus total net production of 44.15MMscf).

Maybe I missed where they increased their working interest.