RE:3.50 $$$ plus I just don't see $3.50 as a reasonable valuation this year. That would put the market cap at about $3billion which is not realistic for 15,000bopd. Plus as you mention there are some risk factors in Peru, and while some of the top ones have been addressed, they are still projecting 5% social unrest downtime.
There are good catalysts coming for sure. H11 results later this month should be dynamic- anything above 5000bopd will be rewarded by the market and if it's close to H10 results of 10,000+, it should result push the stock price up by at least $0.20. Having solutions to ship to markets is another positive and once we get into Q4, the pipeline will be operational once again. The continued debt erosion is accreditive and the prospects of a return of capital program in Q4 or early next year will be significant.
I can easily see a path to $2 early next year but $3.50 seems unlikely in a 12 month window- but what's wrong with a double+ and a dividend within 8 months? I'd say that's worth making some room in the truck!