Share Name Share Symbol Market Type Share ISIN Share Description
Petrotal Corporation LSE:PTAL London Ordinary Share CA71677J1012 COM SHS NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -0.075 -0.72% 10.30 398,828 16:35:03
Bid Price Offer Price High Price Low Price Open Price
10.10 10.25 10.375 10.175 10.375
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 7.84 -4.24 0.78 13.3 84
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:03 UT 10,275 10.30 GBX

Petrotal (PTAL) Latest News

More Petrotal News
Petrotal Investors    Petrotal Takeover Rumours

Petrotal (PTAL) Discussions and Chat

Petrotal (PTAL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
View all Petrotal trades in real-time

Petrotal (PTAL) Top Chat Posts

Petrotal Daily Update: Petrotal Corporation is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PTAL. The last closing price for Petrotal was 10.38p.
Petrotal Corporation has a 4 week average price of 10.18p and a 12 week average price of 9.80p.
The 1 year high share price is 32.50p while the 1 year low share price is currently 5.75p.
There are currently 814,555,701 shares in issue and the average daily traded volume is 405,840 shares. The market capitalisation of Petrotal Corporation is £83,899,237.20.
thommie: guys dont wonder that share price isnt rising. Ppl need to get back trust in the company. first we need to see stable daily production and no new protests plus in the next 40-50days the reopening of the onp as available storage will be full otherwise. after that ppl will start to remember the outstanding performance of ptal in whole 2019 and q1 2020, always delivering just in time or over expectations. The share price will then start to move.
morph7: Reverse split is usually to get away from bing known as a 'penny share'.An oiler with a low share price, regardless of how many shares are in circulation, will literally put off 95% of potential investors just from the fact that its share price is 1p, 5p or 10p.
mount teide: Brent Oil Price - unadjusted for Inflation $78 - Average 10 year price $58 - Average 5 year price $64 - Average 3 year price $47 - Average 1 year price $34 - Average 6 month price $41 - Average 3 month price $45 - Current price Current price has 73% upside to its 10 year average price.
thommie: Jeah I thought that too, but anyway ptal is back producing. As I am here for the long run anyway this derisked my whole investment. So Im glad now the way it is. I dont care about all short term traders that have gone out now taking their profits which made the share price fall. And like simple said they can just do 8000 bopd for now till the pipeline opens... forecast at early august now. Petroperu ceo before said 14.july. But looks like He was wrong.... Oil price is key here. And still, as it takes forecasted 240days from production top final sale (price) every month with oil price not rising above 45-50$ is good for ptal. As the prepayments will be enough to meet their costs and will lead to higher prices in selling their 1,7mio barrels in q4 2020 or q1 2021! for the actual production we do need oil price to be up in 8 months from now on. Not calculating in the amount barged to the iquitos refinery. Every month oil price stays low will defer more capex into the future and especially shale will have enormous decline rates if rig counts stay low!
thommie: Ah ok. Didnt check ur numbers, as all of it is theorethical anyway. But it doesnt change much. In a normal case you would expect any producer like ptal that develops an oil field to make multiple placings to get the money for it or gather lot's of bank debts to do so. But in the case of ptal (since covid/oil price crash) it was a different scenario. They managed to be on top of all of this and would have been able to develope the field without anymore placings or debt - just out of the cash flow - massiv overdelivering. So now we are just back to a normal case, where they have to go into debt before they can pay it down. And this case still feels better than normally, where firms need hundreds of million in debt before anything flows out of the hole. The best would have been sth. like txp did - to do a placing to strengthen the balance sheet before covid, that would look like a monster move now. But if they did our reactions werent that pos I guess - at least in the past :) So I still believe in the management and the big potential of the bretagne oil field. As always - buy when the others got fear in their eyes. I did the same with tullow oil when they were at 10p, look where they are now with even more potential in the next 1-2years. It's always the same. Ppl dont understand the details and are too frightened of losing money, investing their money into other things they dont understand. I have to same problems and I still hate me for not investing all the money into ptal again after I sold just before the pipeline shutdown, as I got the advantage in germany, that the share price is more connected to the tsx than to london. So I knew the news and were able to sell at an average of 10,5p in germany. I could have made 170 000 shares out of my 96 000... But was too scary... so I only topped up 25 000 and invested the rest into txp (what wasnt so bad as well, but 169 000 shares from 6,5p to 12p again would have been even better). But you always know it afterwards... but after this agreements with petroperu and the placing I can't see brankruptcy here which would be the only problem for my investment horizon.
thommie: Hey xxnjr, Thanks for your thoughts! U are right, everything of "cash flow positiv or not" depends on oil prices in Q3 and q4 when final sales happen! Atm every single day with oil price at 40$ brent helps to get better prices for our sales, because shale and high operational cost producers will get offline or stay offline forever and the lower the rigs currently working the lower will be future output in shale for years. At actual lvls of 40$ brent the whole liability to petro peru would be 36% of 25mio$=9mio atm. I dont see oil prices falling lower than that in the next months, but I hope for an upside. So even if u take out this 9 mio from 2019 it still looks ok. If u do the same for 2020 production they are not cash flow pos if oil price stays at 40 but not far away from it. And that is only because of the pipeline shut down. If they had produced all the time we would be cash flow pos! So to say it just needs little improvements in oil price and this will surprise! But ofc you never know. Maybe I am too optimistic. But also I averaged down with more buying and trading once a bit and just lost like 30% of my initial investment, so I really believe that there will be a big catalyst in share price when their production goes online again and I m comfortable with 30% book value loss. Doug Urch said in an Email 2-3 weeks ago, that they are quite experienced in shutting wells down and bring them on again as they did really often in the last year when new producers came online and the cpf wasnt able to bear the production of all wells. He said, that they dont expect bigger problems before they arent offline for more than 6 months as it is an conventional reservoir. The next thing is, that I dont expect the share price to fall more from these lvls. So selling is no option for me. Im here for the long term.
thommie: I was waiting for this update. There are 2 faces of it. Over all Im really happy, that there will be no bancruptcy. The main problem was the contingent liability with petroperu. At 40 dollar brent we owe them 26mio$. Speaking of a volume of 2,1mio barrels that will be sold in Q3/4 or later? the breakeven brent oil price for no repayments is 52$ brent. Which is not so far away. If the oil price isnt increasing and stays at 40 (which is the worst I can see till the end of the year...) we will need to pay the 26mio $ to petroperu over a timeframe of 36 months. (or is it 2 years, because 1 year since december 2019 is already over? dunno if this is included in the change of terms) anyway 24months would mean 26/24= 1,08 mio$ monthly repayment ober 24months and 0,72mio$ over 36months. plus the 6,5% ofc. So not a big deal as we would be cash flow positive with netbacks of 22$ at brent 40$ which means 6,6mio per month. If brent increases there are even less worries ofc... The other positive thing is, that petrotal and petroperu seem to be dependend on each other. Petroperu was always interested (that speaks through all former contracts, etc.) to help petrotal develop the rural production faster. I also like, that they will be restarting the pipeline in July at 2,5$ discount/barrel if oil prices remain low. So Another increase in netbacks from what we knew from another former rns. What ptal really broke it's neck and nobody could have foreseen is on the one hand the corona virus itself and crash of oil prices, but tbh this wouldnt have been a problem for them. What really broke the neck was the disruption of the pipeline. They would have been able pumping thorugh May and June cash flow positive and reducing future payments over the contingent liability as well, as they woudl have gotten even an repayment on mai/June deliveries compensating past prepayments of the 2,1mio $. So they burnt their cash in May/June with fix costs not producing anything. If the pipeline wouldnt have been closed I'M sure they could have done it without the placing. I'm ofc a little bit upset about the placing. As it dilutes the longterm investors quite a bit (with options ca 25%...). But on the other hand the placing was overwritten, theres is an enormous interst in ptal from this point of view still at this bad times. So the chance of getting bancrupt under these circumstances is rather low. if more problems occur we get diluted more, our future upside is getting less multi baggers ofc, but the risk of losing our investmens is really low as well, we have to give 1-2 multibaggers for it instead, which is quite ok for me. Management didnt plan to dilute us, without the contract of december 2019 which makes us the problems with the contingent liability there would have been 1-2 placings before anyway because of the need of money to develop it further. In a perfect world without COVID we would have dont really good as we all expected, management did a good job in the past on the operational side and the relationship with the local people and petroperu (which is super important. I cant blame them for what happened. And still we have a world class oil field, which still is one with low operating costs as well. What I feel negative about are the 49mio$ obligations to suppliers which are on top of all. I didnt expect that to be honest. I thought we paid all our bills through past cash flow. But I dont know if I understood it right... are these 49mio$ obligations from the past or are they connected to the 2020 budget - to operation which they planned to do (like upgrading facilities faster, etc. pp) or is this coming on top of everything again? After shutting in the field at th ebeginning in may they said they had 14 mio$ in cash, not they say they will have 11mio$ in cash after they get prepayments for April? production from petroperu in a few weeks. Which would mean they burnt like the most of the 14mio$ cash they had a month before? Any thoughts? Anyway, I'm still long and will be long. Im a bit negative now, but as I expect when things come back to normal we will be back at least at 30p/share, so ill still have a one bagger by then and more will come after this if things stabilize. Share price won't fall anymore now, this is the bottom.
pro_s2009: Depends. There is risk, the risk is that its a set up, PP demand payment and PTAL cannot pay and the company goes into admin. That is the clear and present danger, especially with South American countries. The other risk, albeit not at the current share price, is a set up for a lowball take over. Still very unclear and with a risk like this, so the share price will remain depressed I am sure, until things either become clearer or collapse.
pro_s2009: 11_percent As cheap as they can get away with, sadly, there is no calling out what that would be. Sensible valuations are not the order of the day at the moment. If someone offered 20p a share now, with the share price at 5p - who would say no ? Would be ridiculously cheap based on the reserves and infrastructure in place, but if someone flashed that cash in front of a lot of people now, they would take it. Say the share price sticks at 5p for 3 months........if someone in August offered 10p a share, would you take it ? Nobody likes to buy cash - they like to buy debt. PTAL crystalising that 42m "contingent liability" now into a fixed debt suggests to me its being lined up for a dirty cheap takeover. A lil bit smelly imo.
pro_s2009: 11_percent Its sold to PP at the price at the time it was delivered to PP. However there is a price adjustment as to when PP sell it. So currently PTAL have sold 580K barrels at around 61$ a barrel to PP, and 1.2M barrels at around 50$ a barrel to PP. When PP sell this oil, whatever price they get there will be an adjustment made. So if PP sell the 580K lot in Q3 at 40$ then the adjustment will be that PTAL have to pay PP the 21$ difference per barrel. If PP sell the 1.2M lot in Q4 at 50$ then the adjustment will be that PTAL have to pay PP nothing. So at current prices PTAL intend to cystalise the current contingent liability selling all that oil at todays price of 30$ in effect.......... so that when it is sold, if the price is higher than 30$, then PTAL get a chunk of extra cash (after taking on 42m debt to be repaid over 3 years).
Petrotal share price data is direct from the London Stock Exchange
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20201020 21:47:19