Slide 37 is a wee bit concerning - appears there's not much wiggle room in rate achieved or oil price in their FCF delivery?
Also, I can't really see the point of the share buybacks, unless to try to create a stable market. The $0.2MM/month is only 420k shares at current price. I'm sure there are posters here with more than that |
MT good bit of trading, always keep a core holding myself as divi very appealling, trade a miniscule amount around the edges.
Upwego second that statement by you. |
January presentation |
I bought smore this morning; that is my second top up this year. |
Well that`s a very nice update and clear 24% increase in production for 2025 and buy backs throughout the year with monthly spend and divi`s of 13%
Very nice indeed. I like it :) |
Hi eringael/RA - hope both you and you're investments are doing well and, like me you're enjoying PTAL's recent return to what is still a very good share-price entry point for a new 2-3 year investment in the company.
Sold half my original holdings in PTAL and TXP for reasons posted at the time. PTAL(Local Community Unrest Threat) and TXP(Poor execution of the monetisation of the discoveries by the management).
Re-purchased the PTAL shares I'd sold after the disruption threat declined a few years ago - currently hold 1.0m.
Only post infrequently nowadays on PTAL, TXP and a number of other Advfn threads where i have a shareholding, as they either attract mostly little or low interest from others(the three shipping industry shareholdings and PTAL spring to mind), or too many day traders posting inane nonsense crafted to suit their latest trade(happened repeatedly at TXP where I still hold 1.2m - sold the other half at circa 80.0p). |
Nice to see you MT. |
In addition, Jadestone's crude oil buyer has to pay for the Shuttle Tanker's 4,500 mile round trip to collect each cargo as its sold ex the cargo manifold of the FSO moored over the field. |
pughman - the opportunity is there for the management as Jadestone averaged a sales premium of $15.88/bbl to dated Brent in H1/24 - average premium for H2/24 will be published in the April Y/E results. |
Yes.....I should really read the RNSs.
Cheers. |
Foot of the last RNS
PetroTal will host a webcast following its 2025 budget and guidance release on Thursday January 16, 2025 at 9am CT (Houston), 3pm GMT (London). Please see the link below to register.
I'm travelling that day, so can't watch it - if anyone who listens in could share any new info and/or their takeaways, I'd appreciate it |
Hi Spangle,
Do you have link for the webcast to sign up.
Cheers. |
 Cavendish weekly review - no big or fresh insights beyond what was reported, but a handy summary
PetroTal (PTAL.L, 38.2p, £348m) production averaged 19,150bopd in Q4/24, a new record for the Company. Following the annual dry season in early October, PetroTal’s operations team responded to rising waterlevels, restoring Bretana field production to capacity. As a result, Bretana’s Q4/24 production increased 25% on Q3/24. FY24 production from Bretana was 17,733bopd, slightly above the high end of PetroTal’s 16,500-17,500bopd guidance range, and a 24% increase YoY.
PetroTal spudded well 23H in December, the well is expected to be completed by the end of January 2025, at which point the Company plans to release its current drilling rig and pause the Bretana development drilling program.
PetroTal exited the year with cash of US$115m, of which US$103m was unrestricted. This compares to total cash of US$133m at the end of Q3/24. PetroTal ended the year with accounts payable and receivable of US$88m and US$85m, respectively.
PetroTal has signed a contract extension with PeruPetro for the exploration of Block 107, with the contract now extended until February 2027. PetroTal also signed two Technical Evaluation Agreements for Blocks XCVII and XCVIII, located in the vicinity of PetroTal’s Block 131. Blocks XCVII and XCVIII include acreage that was previously relinquished from the present-day Block 131 and contain several drillable prospects and leads identified with existing 2D seismic coverage in the producing Cushabatay light oil play. Contractual commitments will be executed in two 12-month phases, and mainly include geological and geophysical studies such as seismic imaging, geochemical modelling, and hydrocarbon potential evaluation reports. The TEA's also grant PetroTal the option to convert the blocks to exploration licenses within the next 24 months.
PetroTal will host a webcast following its 2025 budget and guidance release on 16 January 2025 |
Cash dropped from $133m in Q3 to $115m in Q4, but that's after a $23m drop in accounts receivable/payable from Q3, underlining how robust the numbers were for Q4. |
oil sharply up today, three week highs. |
They have alot of costs in 2024-2025, but more so in 2024 as they moved more or less all of Bretanas drilling program for 2025 to 2024. And drilling is what is really expensive.
The most cost intensive period under those 2 years will be Q424 and January 2025, as they will be doing drilling,erosion,siesmic and infrastructure upgrades all in this time. This is also why they put on a second hedge for Nov24-Jan25.
Next week we get 2025 budget and I think it will come in at around 140M$ VS 170M$ in 2024. |
Getting back where we belong now. |
Very pleased as well. Re production: you have to remember that ptal burns around 200-300 bopd for electricity generation . Thats why offtake figures and announced production is different! |
Bozzy, 2025 is the big spending year but divi looks secure. Fully expect divi to increase during 2026 with the liquidity sweep and lower expenditure. The higher oil price at present is most welcome and output at the beginning of January looks very good at 22950bopd for the first 7 days. |
Blue again tomorrow (Fri) - currently showing as 37p to buy in London, 37.8p to sell in Canada / 38.3p to buy in Canada.
Great update as expected. Dividend looks secure at minimum of 6c (US) for 2025. |
Very nice update!
Very happy with that! |
Gutterhead, don’t forget about the 15% WHT to come off the yield |
Analyst note by Zeus is available on research tree
It seems to be a holding update, pending next week's guidance
Overall, this is a positive statement, showing good production data and reassuring on the cash position, and we look for further detail on 2025 work programme plans and production guidance in the statement next week.
We have tweaked our 2024 forecasts for the reported production and cash flow outturn. These changes partly roll over into 2025 from the point of view of cash flows/the cash holding. Our target price of 95p is unchanged |
Added. Undervalued due to historic risk issues. 14% dividend at current price.
Should be 100p imo |
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