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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Petrotal Corporation | PTAL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.10 | -0.26% | 37.70 | 16:35:26 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 38.00 | 37.50 | 38.30 | 37.70 | 37.80 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 19/12/2024 02:46 by briggs1209 Production looks great at year end - although they still can't overcome the low seasonal water levels.Plenty of cash on balance sheet but $60 million on erosion control over the next 18 months is not pretty - what if this turns to 80? 90? I'm factoring in four 1p dividends (after tax) which gives a yield of 13% at 30p. When a yield goes hits the 10 to 15% range something normally gives - either the dividend gets cut or the stock snaps back. Recent falls are harsh, which again will spook investors. However, if production and dividend both hold, then by end of 2026, you will have 8p back in dividends and the erosion control should be complete. |
Posted at 06/12/2024 08:43 by pughman Ptal has a lot of cash in the bank, but over the next few quarters that is going to tail off quite sharply. The falling oil price means the company has to shift a lot more barrels to compensate, which it is doing. Fast forward a year from now, and investors should be rewarded, but even a fairly secure 11% yield isn't tempting punters, which I get as there are risks here, however well managed it is. |
Posted at 14/11/2024 16:17 by spangle93 Zeus capital is very positiveForecasts. We have updated our forecasts based on the Q3 results and reiterated full year guidance. We nudge up 2023 production and hence revenues and EBITDA. We then allow for a positive working capital swing in 2024 (reversed in 2025), and shift a small amount of 2024 CAPEX into 2025. Valuation Our forecast changes see our total risked NAV adjust from 96p to 97p. • Conclusion: PetroTal holds 100% in the producing Bretana field, onshore Peru. This produced at 14.2mbbl/d in 2023, driving EBITDA of US$198.3m for the period – production of 16.5- 17.5mbbl/d is now guided for 2024. Bretana holds a significant 100.2mmbbl of 2P reserves, and PetroTal has a multi-year drilling programme which we expect to take production to approaching 25mbbl/d average in 2027 in the 2P case. We would expect the acquisition of Block 131 announced earlier this year to incrementally add to these numbers. The company has established multiple export routes for its Bretana crude, including barging to Manaus in Brazil, to the regional Iquitos refinery, and into the ONP pipeline (currently offline), helping underpin export reliability via diversity. New export routes are also being investigated, including via the OCP pipeline through Ecuador and Yurimaguas in Peru. 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$133m of cash (zero debt) at the end of Q3 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 13% 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. We have a positive outlook for the shares, and value them in line with our 97p total risked NAV |
Posted at 21/10/2024 14:18 by husted The investor presentation doesn't supersede the results presentation- the two are different formats.So Manolo doesn't take the results presentation to road shows and he doesn't use the investor presentation to show results. Neither presentation says they won't drill 131 this year, but one presentation says they do intend to drill. I think it's very negative to interpret that as they definitely won't when they say they intend to. Oil prices have been a lot higher than $70 this year. They've increased the guidance on EBITDA to $200m-$240m. Cash flow isn't a problem this year. The free cash numbers in presentation includes capex and dividend as they are commitments so that cash is no longer free. They completed 16H in January and will complete 23H this January -ish. That's 16H, 17H, 18H, 19H, 20H, 21H, 22H, 23H. They also drilled a water well and possibly 131 too. So you can include up to 10 wells this year, but we'll call it 8. Originally, it was going to be 4 this year and 4 next. But 8 wells, that's about $100m of the $200-$240m of EBITDA right there. Manolo says you need 20k of production to be taken seriously. They have that now. Post P2 development, maintenance capex for Bretana was previously estimated at $25m. They aren't there yet, but on other hand, they don't need to develope or drill at all next year, they can just open up existing wells and you have all that free cash. That's before you consider the expected production jump. And btw all they need to increase loading capacity is to fill the barges. In dry season they leave half empty. So production should normalise very soon after river levels. |
Posted at 08/10/2024 10:36 by spangle93 Zeus updateForecasts and valuation. We currently leave our forecasts unchanged, though may look to revise these as we get towards the end of the year, and in light of the Q3 2024 results, due in November. ♦ Conclusion: PetroTal holds 100% in the producing Bretana field, onshore Peru. This produced at 14.2mbbl/d in 2023, driving EBITDA of US$198.3m for the period – production of 16.5- 17.5mbbl/d is guided for 2024. Bretana holds a significant 100.2mmbbl of 2P reserves, and PetroTal has a multi-year drilling programme which we expect to take production to approaching 25mbbl/d average in 2027 in the 2P case. We would expect the recently announced acquisition of Block 131 to incrementally add to these numbers. The company has established multiple export routes for its Bretana crude, including barging to Manaus in Brazil, to the regional Iquitos refinery, and into the ONP pipeline (currently offline) via the Saramuro pump station, helping underpin export reliability via diversity. New export routes are also being brought forward, including via the OCP pipeline through Ecuador and Yurimaguas in Peru. 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$133m of cash (zero debt) at the end of Q3 2024, supporting ongoing CAPEX investment and returns to shareholders, with PetroTal establishing a regular annual dividend of 6.0c/share from Q1 2023, implying an 11% 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. We have a positive outlook for the shares, and value them in-line with our total risked NAV of 96p |
Posted at 03/9/2024 13:45 by spangle93 Latest Zeus Capital comments on today's announcementConclusion PetroTal holds 100% in the producing Bretana field, onshore Peru. This produced at 14.2mbbl/d in 2023, driving EBITDA of US$198.3m for the period – production of 16.5- 17.5mbbl/d is guided for 2024. Bretana holds a significant 100.2mmbbl of 2P reserves, and PetroTal has a multi-year drilling programme which we expect to take production to approaching 25mbbl/d average in 2027 in the 2P case. We would expect the recently announced acquisition of Block 131 to incrementally add to these numbers. The company has established multiple export routes for its Bretana crude, including barging to Manaus in Brazil, to the regional Iquitos refinery, and into the ONP pipeline (currently offline) via the Saramuro pump station, helping underpin export reliability via diversity. New export routes are also being brought forward, including via the OCP pipeline through Ecuador and Yurimaguas in Peru. 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$96m of cash (zero debt) at the end of Q2 2024, supporting ongoing CAPEX investment and returns to shareholders, with PetroTal establishing a regular annual dividend of 6.0c/share from Q1 2023, implying an 11% 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. We have a positive outlook for the shares, and value them in-line with our total risked NAV of 96p. |
Posted at 08/8/2024 10:36 by spangle93 Zeus capital update"Overall, this is a further statement from PetroTal demonstrating the company’s significant existing production capability, higher production potential on further drilling and export route availability, strong cash generation to be had from this and the solid funding position it creates, and capability to take advantage of these opportunities via operational execution. Going forward we expect more of the same – cash generation supporting both growth CAPEX and shareholder returns. Forecasts and valuation. We have updated our forecasts based on increasing our 2024 oil price and also increasing our CAPEX based on guidance. For 2025 we leave our numbers largely unchanged, though there is a small impact on free cash flow due to a higher tax bill in 2024, part of which would be paid in 2025 On valuation, we have now added Block 131 into our NAV which, alongside our forecast changes, sees our total risked NAV increase from 93p to 96p. ♦ Conclusion: PetroTal holds 100% in the producing Bretana field, onshore Peru. This produced at 14.2mbbl/d in 2023, driving EBITDA of US$198.3m for the period. Bretana holds a significant 100.2mmbbl of 2P reserves, and PetroTal has a multi-year drilling programme which we expect to take production to approaching 25mbbl/d average in 2027 in the 2P case. We would expect the recently announced acquisition of Block 131 to incrementally add to these numbers. The company has established multiple export routes for its Bretana crude, including barging to Manaus in Brazil, to the regional Iquitos refinery, and into the ONP pipeline (currently offline) via the Saramuro pump station, helping underpin export reliability via diversity. New export routes are also being brought forward, including via the OCP pipeline through Ecuador and Yurimaguas in Peru. 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$96m of cash (zero debt) at the end of Q2 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 12% 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. We have a positive outlook for the shares, and value them in-line with our total risked NAV of 96 |
Posted at 11/7/2024 11:28 by spangle93 Zeus capital noteConcludes 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. We have a positive outlook for the shares, and value them in-line with our total risked NAV of 93p Date for diary We look for any updates to guidance at the Q2 results on 8 August, |
Posted at 05/3/2024 22:57 by tag57 RA maybe Ptal just needs to show it can maintain its divi over a period of time to start to pull in new investors. The geopolitical risk probably puts some people off too.At under 45p I see the Ptal share price as a great opportunity to get a great yield with plenty of potential for this to grow, but then I am happy to take the risk vs reward on this too. Each to their own I suppose. |
Posted at 14/9/2022 16:41 by mount teide As winter approaches, Wall Street is finally waking up to just how cheap traditional energy stocks still are, despite a very strong performance YTD in 2022, the tight supply and growing demand market dynamic is what will continue to drive pricing for the foreseeable future.Wall Street Is Increasingly Bullish On Energy Stocks - Oilprice.com today * Bloomberg survey: Equity strategists, portfolio managers, and retail investors have grown increasingly bullish on energy stocks. * A shortage of critical fuels such as natural gas and diesel could boost the stocks and bonds of energy companies as they have the ability to invest in more oil and gas supply. * Bloomberg survey: natural gas to be the most constrained commodity in the short term. Oil and gas stocks, the top performing equities in the S&P 500 index so far this year, have further room to rise as both retail and portfolio investors look to boost their exposure to traditional energy, expecting a worsening of the energy crisis and shortages of fuel this winter. Despite the market anxiety that soaring energy prices will continue to increase their upward pressure on inflation and central banks will continue to try to tackle said inflation with continuous large interest rate hikes, the energy space looks attractive to investors right now as Europe scrambles for energy supply. Investors Look To Boost Exposure To Energy Stocks Equity strategists, portfolio managers, and retail investors have grown increasingly bullish on energy stocks, the latest Bloomberg MLIV Pulse survey carried out last week shows. The poll of 814 respondents—in In addition, nearly three-quarters— “I definitely want to remain invested in energy stocks because of massive supply constraints,” Chris Wood, global head of equity strategy at Jefferies, told Bloomberg TV in an interview. Energy Supply Constraints Despite falling oil prices over the past few weeks due to recession fears, supply out of Russia could be squeezed in December when the EU ban on Russian seaborne oil imports kicks in, resulting in a tighter market despite potentially slowing demand growth. The G7-spearheaded price cap on Russian oil, and a possible cap on Russian gas prices in the EU, could further complicate energy supply to the most developed economies in the world if Putin follows through with his threat to stop supplying all energy products to Europe if the EU and its Western allies imposed price caps on Russian oil and natural gas. A shortage of critical fuels such as natural gas and diesel could boost the stocks and bonds of energy companies as they have the ability to invest in more oil and gas supply. Years of underinvestment in the oil and gas sector has come back to haunt global energy supply, according to Jeff Currie, Global Head of Commodities Research at Goldman Sachs, which has been bullish on oil all year. “The only way you’re solving the energy problem in the long run is through investment – and oil companies are the conduit for the capex to solve the problem,” Currie has told Bloomberg. In natural gas, the Russian cut-off of all supply via Nord Stream to Germany makes a bullish case for energy companies producing and/or trading and selling LNG on the spot market, including supermajors such as Shell, TotalEnergies, or BP. Respondents in the Bloomberg MLIV Pulse survey expect natural gas to be the most constrained commodity in the short term. Most of those also believe that OPEC+ will not let oil prices fall too low and would intervene with a production cut on the market if a recession saps oil demand. Moreover, nearly half—or 44%—of respondents say the current price of oil doesn’t adequately reflect actual supply and demand. Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, last month pointed to the “disconnect Energy: Top Performer And Outlier In Falling Equity Market 'The expected energy supply constraints this winter aren’t the only factors in attracting more investors in oil and gas stocks and bonds. Despite the fact that it has significantly outperformed the S&P 500 this year, the energy sector has further room to rise. Energy stocks are still much cheaper than other sectors based on forward-year price-to-earnings (P/E) ratios, analysts say. Year to date, the energy sector has been the top performing sector in the S&P 500 index, according to market data compiled by Yardeni Research. The energy sector in the S&P 500 had gained 47.4 percent year to date to September 12. In comparison, S&P 500 is down 13.8 percent, and all other sectors except for utilities have also lost ground since January. Within the energy sector, the integrated oil and gas subsector has surged by 53.7 percent, and the oil and gas exploration & production subsector has jumped by 52.4 percent amid tight supply, soaring commodity prices, and expected energy shortages and rationing in Europe this winter. Even some ESG-focused funds are not immediately casting aside oil and gas stocks, as years of underinvestment in new supply, the energy crisis, and the Russian invasion of Ukraine have thrown into sharp relief energy security and affordability. Recent analyses have suggested that some ESG funds now include traditional energy stocks in their portfolios—an unimaginable thing just two years ago.' |
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