Some things investors should know From page 11 of June presentation:
Key highlights:
PetroTal horizonal wells have produced an average of almost 1 million bbls in first 550 days
All but one previously drilled well has paid out
Over a ~2 year period, PetroTal drilled wells have already returned 1.3x their CAPEX
At $65/bbl Brent, PetroTal’s well portfolio on pace to recycle cash flow at 6.0x CAPEX
The 7D well payout4 is estimated at 240,000 barrels; produced ~40,000 barrels in first 9 days
From page 22:
3 year estimated cash build to over $266 million at current strip including full debt service and working capital burdens
o PetroTal could allocate cash build via the following:
o Dividends o Share repurchase
o M&A
o Combination of any above
o 3P development fully funded out of cash flow down to $50 Brent flat from 2022 on