Petrotal Share Discussion Threads

[spangle93] 26/8/2021 20:02

Many congratulations, Thommie.... rather you than me though ;-)
Wishing you all good health

[spangle93] 26/8/2021 19:44

thommie, thanks for that update
o/t did you get the PM a couple of days ago?

[thommie] 26/8/2021 19:33

webcast already online on their website! I really like their improvement in shareholder information policy!

[johnhemming] 26/8/2021 16:42

They are right to prioritise paying the bond back first. Once, however, they have the liquid funds to pay the bond they can hold onto this.

I would not think there was actually a penalty to pay the bond early. Instead I would think the bond holders would expect the full interest to the maturity of the bond which is a sort of penalty. However, there is probably a deal to be done worth a few percent (possibly as much as 6).

[chris_engel] 26/8/2021 16:16

They said they would consider paying back the bond early but apparently there is a penalty for doing so.

[king suarez] 26/8/2021 16:13

If the company exit 2021 at forecast rates then that bond could be paid off sometime within 2022?

The company feels criminally underpriced to me. Exit 2021 at c17k bopd - netbacks of $36 at this oil price = $223m cash flow before tax?? What is our market cap, um, £120m...

[johnroger] 26/8/2021 16:07

If I heard correctly
No share buy backs or dividend until Bond repaid

[chris_engel] 26/8/2021 15:52

No real news. Everything as planned, albeit slight delays and problems with pumps.

I thought the most interesting bits were:

No takeover target for their 20m of cash at the moment. He said they are still looking.

The ONP pipeline is closed again due to social unrest. So they will do two shipments to Brazil in Q3. It is even possible to do 3. (which would be 660k bbls per quarter?)

30m capex was spent in H1, 75m will be spent in H2.

[sleveen] 26/8/2021 15:23

So far same as RNS/presentation.

The answers to the questions I was able to listen to were already answered in the RNS/presentation.

[sleveen] 26/8/2021 11:17

Thommie,

I'll try to take notes.

[sleveen] 26/8/2021 09:47

Now 5 v 1 and MM only for 30k shares @ 15.5p.

Continues to bode well.

[mount teide] 26/8/2021 09:44

Overall, an encouraging update which the market should like......the management are positioning the business to have a very strong H2 and 2022 at current oil pricing.

L2: 3 v 3 / 15.0p v 15.5p (rest on 16p and 17p)

[sleveen] 26/8/2021 09:27

xx


1XD is the legacy well from previous company.

[thommie] 26/8/2021 09:11

Can someone take notes, Im not able to join the webcast. thx!

[xxnjr] 26/8/2021 09:04

sleveen - was that BN-1?
I'm just looking at the "well lookback" graphic on slide 11

[sleveen] 26/8/2021 08:56

xxnjr

Have you counted the legacy well that was reactivated?

[xxnjr] 26/8/2021 08:29

Minor delays in the overall scheme of things but operating in the upper reaches of the Amazon Jungle was never going to be easy. Covid has been a massive curved ball for Peru resulting in an even more challenging operating environment. Overall Petrotal have coped pretty well under the circumstances. Utilising the Brazil export option has been a bit of a life saver. The main thing is we are back to drilling wells which ultimately should result in higher production and more cash. A better understanding of field potential from recent producers plus insights from coring the water disposal well may support further reserves growth. Some muddled messaging on 8H (unless 7D was the 8th producer? - edit 7D was the 8th well as there is also one called BN-1) completion in the release but overall it seems pretty positive.

Latest Pres:-

[sleveen] 26/8/2021 08:10

john

I think today's mountain of cash news outweighs the finer nuances of Peruvian politics :-)

[sleveen] 26/8/2021 08:07

Can't get a buy quote for even 10k shares have to go to MMs. (offered 14.75p to sell 10k shares)

Bodes well.

[eringael] 26/8/2021 08:07

Well can't buy any at the minute but sell lots

[sleveen] 26/8/2021 07:57

Flood of money coming in at the start of Q3 following 8h completion.

From $90m to $140m cash flow from ops. Fantastic.

$36 netback: better than I expected.

With these figures is a reduction of 1k b/d ISN'T a major issue.

Roll on 2022 for a Tsunami of cash.

[gutterhead] 26/8/2021 07:55

Cash generation very good. Markets should like that but I gave up second guessing decades ago

[jeanesy] 26/8/2021 07:38

mostly good. But markets tend to pick up on the negatives.

The 2021 average production range is now guided at 10,000 to 11,000 bopd (from 11,000 - 12,000 bopd). Exit December 2021 production has been slightly revised down to 17,000 - 18,000 bopd (from 18,000 - 19,000 bopd), as the impact of the BN-10H well won't be incorporated until early next year;