Petrotal Share Discussion Threads

[gutterhead] 24/7/2023 19:26

Let’s assume a 50p challenge is building. Might take a few efforts to break through

[qs99] 21/7/2023 10:44

Oil price holding up really well IMO. Should bode well for PTAL.

I do think $ weakness will continue, therefore benefitting oil price increase & PTAL revenues. Along with continued small share buy backs, hopefully may help a squeeze on good news etc.

DYOR

[johnroger] 20/7/2023 14:50

Latest figures
hxxp://ppsisuc/supervision_contratos/include/asp/rptserver.asp

[qs99] 12/7/2023 14:52

Oil price moving now.....some nice volume here, still share price not really moved tho

[qs99] 11/7/2023 14:04

$ weakening, at least against the £ quite materially, will this help oil price strength? DYOR

[pigeonfeeder] 10/7/2023 12:52

Hi, I would be interested to hear what they came back with. I also received the wrong dividend amount but assumed they had used the wrong FX rate. I emailed the helpdesk and didn’t receive a response, though like you I did receive the correct amount (albeit with 25% withholding tax rather than 15%). IG have low fees and the FX charge on overseas purchases is much better than most, but not complying with the double taxation agreements means I am considering going to the trouble of switching.

[thommie] 06/7/2023 10:05

They also resumed buybacks yesterday. Maybe paused when the river blockade occured due to unknown length and effect on the balance sheet.

[doughcyclone] 06/7/2023 09:26

Good to see us slowly letting go of the management of the fund. Should save us a lot of head ache.

[qs99] 06/7/2023 08:35

Agreed, their recent share buybacks may have shnaffled spare stock which is great. Lovely yield, should be way higher IMO, but geo-political risk holds this back.....DYOR and looking forward to £1+!

[tag57] 06/7/2023 08:16

Managed to buy a few more but limited availability.

[qs99] 06/7/2023 07:41

Nice update, cash pile building, looking v. solid IMO/DYOR

[thommie] 06/7/2023 07:25

I wish I didnt sell half of my ptal holding at 30p to buy JSE at 100p :)Besides that great, reassuring update. The balance sheet gets better and better every day with 75m$ plus a big plus via receivables vs payables in addition. The quarterly dividend looks more than just safe. With 25% of production capacity being shut in due to constrained barging capacity ptal would have been able to produce around 24 000 bopd in q2. Instead they produced 19 000 bopd which is the best quarterly production they ever achieved. Social side looks reassuring as well and by far much better than ever before even if short protests could occur again, being limited by a fine of 50 000$\day of protest that is being moved out of the trust fund. So there should be a big motivation not to prolong any future protest.

[padooki] 30/6/2023 19:57

Thank you both for your replies. IG weirdly don't accept the UK resident form so 25% withholding is best I can get. After a week of unsuccessful calls and email to them, they paid the correct amount this afternoon - 0.9p. Previously they had blindly taxed the already taxed amount, which they had no business doing and should have known better. I don't think it is a coincidence that the error was corrected within hours of my twitter rant after a week of them claiming they had paid the right amount. At least their Media dept is on the ball. I have asked their customer retentions dept to reach out to me as this is not my first experience of dividend errors with them. The last one took 2 months to correct. If anyone is interested, I'll post what they come back with

[pugugly] 30/6/2023 19:11

Suggest you double check calculations and exchange rate - USD used in calculations below as at market open - Not sure about level of withholding tax So examples at both 25% and 15% - Also at 30% if they have confused with US withholding, or maybe US coy for tax purposes. e&oe of course!!

"Q1 2023 Dividend Timetable

PetroTal is pleased to confirm that its cash dividend of US$0.015 per common share in respect of Q1 2023 operations will paid according to the following timetable:

- Ex-dividend date: May 30, 2023
- Record date: May 31, 2023
- Payment date: June 15, 2023

Div due in $usd $0.0150
ex rate to sterling £1.2613
So sterling gross £0.01189
If American tax at 30% £0.00357
Would have received. £0.00832

Div due in $usd $0.0150
ex rate to sterling £1.2613
So sterling gross £0.01189
Less canadian tax at 25% £0.00297
Would have received. £0.00892

Div due in $usd $0.0150
ex rate to sterling £1.2613
So sterling gross £0.01189
If Canadian tax at 15% £0.00178
Would have received. £0.01011

So whichever way calculated figure of .68p appears wrong Can you check exchange rate used? -Hope this helps. e&oe of course - Other views.

[taurusthebear] 30/6/2023 16:56

It should be 15% if you are UK resident. Some brokers require a form to effectively prove that, mine didn't.

If you are sure of what you should receive, and didn't get that, you could report it to the Financial Ombudsman, but it's a slow process. Probably worth it if you plan on keeping your shares, because I believe it's a quarterly dividend.

[padooki] 30/6/2023 09:38

I hold PTAL shares with IG. I received the recent dividend of 1.5c USD and was expecting 0.9p after UK currency conversion and 25% Canadian tax withholding. To my surprise, I received only 0.68p. It is clear to me that the 25% withholding tax was taken before IG received payment from their registrar and they proceeded to take it again. I have explained the error to them via phone calls and numerous emails to their customer service and corporate actions departments. They remain convinced they have paid the correct amount. One of the reasons they gave for the payment being correct is that none of their other PTAL shareholders have queried the amount. If anyone here also holds shares with IG please check your dividend. Firstly, I would just like to confirm with forum members that I have been paid short. Secondly, what can I do to get the money owed to me?

[beyond_black] 29/6/2023 23:22

John Tobin-I don’t think the situation is that simple or straight forward

[johntobin] 28/6/2023 18:11

The Headline from the spanish says it all
"They reach an agreement that ensures peace and progress in the district of Puinahua",

it looks like social fund is progressing and hopefully that means less social disruption and greater output.

I don't think this can be underestimated. The ability for Petrotal to be seen to work successful with the local population could be very important in growing the company. There are many opportunities in Peru.

[taurusthebear] 28/6/2023 09:39

Lennonsalive - I was talking in annual timescales, not weekly ones!

[doughcyclone] 28/6/2023 06:43

At least JAP is included (which are the real locals from my understanding) this time. At this point, just let them handle the fund themselves, as long as they’re happy. If it leads to corruption it’s on them and Ptal doesn’t need to take any responsibility.

[beyond_black] 28/6/2023 06:30

Looks like the issue remains the management of the fund. From the looks of things, an agreement (including JAP) reached yesterday. Petrotal not included in meeting. Not sure what this means. Hard to put the pieces together from the various posts in spanish on Twitter