Geopolitical Even with Brent crude at 85$ this name is lagging, which I attribute to the current unrest in Columbia. Recently liquidated in favour of other less risky names.
Cross referenced their recent drilling areas and they fall right in areas where they have purchased new rights. There is a reasonable chance with the May 29th election not that far away, and ongoing unrest that their production growth is interrupted at minimum, with there being a reasonable chance they are unable to deliver on production numbers.
https://www.aljazeera.com/where/colombia/
23 dead in recent clashes with rebels happened right in the Aruca block where they are drilling exploratory wells.
Makes me a little sad to sell the last holdings I had of this name, I've long been a PXT shareholder and fan but the risk is just too great here.
GLTA