Petrotal Share Discussion Threads

[qs99] 08/8/2023 20:14

Interesting thanks Thommie, others who are more knowledgeable will be able to answer!

I like the oil price rise however and continued strength (without going too high to be clear otherwise hits economies) and OPEC seem content IMO to keep it around this level DYOR

[thommie] 08/8/2023 20:05

Hey spangle, thats true, that there will be some capex besides drilling in q3. But the L2 West platform is shown to cost 13m$ in the 2023 budget. The 56m$ you refer to includes additional production and water handling facilities and erosion control costs. I dont think all of them will be paid for in q3.Re pipeline: if you read the rns carefully you would see that the onp is already working since april 2023. But ptal isnt using it, because perupetro doesnt guarantee direct payment in form of factoring with its creditline for the oil after it ins put into the onp at saramuro. As the oil needs around 8-12 months to reach the coast and finally being sold it leaves ptal without income for the oil put into onp till that point. Add multiple onp closures due to social unrest in the last years and it takes even longer.On the other hand I ask myself why isnt ptal putting additional volumes it cant delivery through iquitos and manaus due to low river lvls into the onp? The opex of the field would be nearly the same as the vast part of it is fixed. So maybe it would be a wise move to use 2 of the barges to deliver oil to saramuro, while that would only decrease the deliveries to manaus by 500 bopd it would enable additional future income in 1-2 years from now on of around 4-5000 bopd as the roundtrip to saramuro only takes 6-8 days and water lvls are high enough there to fully load the barges. Maybe that would be a good long term bet? :)

[qs99] 08/8/2023 13:26

What's the timeframe, latest, on getting the pipeline working again?

[spangle93] 08/8/2023 11:11

Not sure about the "less capex in Q3", thommie?

Yes, the rig has completed workovers, but the L2 West Platform is $56MM in this quarter

Maybe "different capex"?

[thommie] 08/8/2023 10:23

They should build cash in q3 as well, the majority of less offtake due to low water lvls should be compensated by the 20% higher oil price compared with q2. As well there will be less capex in q3 because of less drilling activity.

[gotabsirius] 08/8/2023 08:11

Will they build any cash in H2 at circa 12,000 bopd?

[qs99] 08/8/2023 08:05

....and that continued cash generation is tremendous, soon should be way north of $100m net cash and building, despite buybacks, yield, capex, working capital etc.

Any other views? DYOR

[qs99] 08/8/2023 07:52

The cash generation when this is without restrictions is ace, lovely ongoing yield, DYOR, happy to continue to hold and reap the buy-backs & yield

[gutterhead] 08/8/2023 07:48

Nice Div uplift and great results for the 1/4
One off uplift I know but equivalent to 18.7% on an annual basis

[arlington chetwynd talbott] 08/8/2023 07:44

Solid update.

[podgyted] 07/8/2023 23:40

Many thanks

[podgyted] 07/8/2023 18:20

So that's a no then.

[arlington chetwynd talbott] 07/8/2023 14:02

Lennonsalive - has that been confirmed somewhere? Certainly expecting them this month, but missed any confirmation of a specific date.

[lennonsalive] 07/8/2023 12:41

Q2 Results tomorrow

[podgyted] 05/8/2023 13:16

Beyond_black/Thommie

Can I ask where you get your information from?

TIA

[beyond_black] 03/8/2023 14:58

It may be a water level issue as well

[thommie] 03/8/2023 08:52

It looks more like barge availability is the problem. As the loadings done suggest that all barges are loaded to the maximum at 17 000-20000 bbls. Maybe the river blockade in early june lead to some interruptions of planned schedules that only showed 1 month later. While the avg production in the 1st half of july was around 16kbopd it was 7,5kbopd in the 2nd half.I dont think it had to do with moving the rig, as that is expected to happen in late q3 when the L2 West drilling platform is ready. Atm the rig is on its original position servicing 2 of the initial bretana oil wells.

[beyond_black] 02/8/2023 19:26

Production horrible the last half of the month. Avg production for July:11,400 bopd. Only four days of protection since the 15th.

[qs99] 31/7/2023 10:24

Interesting reading that oil prices could head higher as inventories are "low"....DYOR should help PTAL

[taurusthebear] 26/7/2023 19:40

PTAL been my biggest holding for a couple of months now, couldn't resist those divis. One day we may see the final visit to 40p, hopefully it has now gone.

[jurgensredarmy] 26/7/2023 17:04

Added significantly first thing this morning.

[qs99] 26/7/2023 16:28

50p challenge definitely building IMO/DYOR, share purchases by company helping to hoover up the loose stock as well....oil price strong

[arlington chetwynd talbott] 24/7/2023 20:58

Certainly looks like it is going to have another go at 50p, and Brent is trying to help.