Petrotal Corp T.TAL

Alternate Symbol(s): PTALF

Energy Oil & Gas E&P

PetroTal Corp. is an oil and gas development and production company focused on the development of oil assets in Peru. The Company is engaged in the exploration, appraisal and development of oil and natural gas in Peru, South America. Its flagship asset is its 100% working interest in Bretana oil field in Peru's Block 95. Through its two subsidiaries, the Company is engaged in the ongoing development of hydrocarbons in Block 95 with a focus on the development and production from the Bretana oil field. In addition to further leads in Block 95, the Company has significant exploration prospects and leads in Block 107. The Bretana oil field is located in the Maranon Basin of northern Peru. The Company has a 100% working interest in the Bretana oil field. Block 107 has three additional leads, inclusive of the Osheki-Kametza prospect.

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Petrotal Corp

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Post by geezer21on Nov 25, 2022 11:18pm

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Post# 35129636

Share Accumulation Is Forward Looking

TAL held steady and many other oil producers were up Friday despite the fall in oil prices as the trading day wore on.

Despite current bearish outlook, market participants likely see what is coming and are loading up on oil company shares now while share prices are down. Share price action is a leading indicator- forward looking.

https://oilprice.com/Energy/Energy-General/Bearish-Sentiment-Is-Building-In-Oil-Markets-Once-Again.html

In December not only is SPR draws scheduled to end but oil price caps are to take effect and seabourne Russian oil to Europe will be embargoed.

https://abcnews.go.com/Business/wireStory/explainer-effect-russian-oil-price-cap-ban-93924732

Saudi Arabia and Iraq confirm support of production cuts:

https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-And-Iraq-Reiterate-Their-Support-For-A-Production-Cut.html

EIA records show global oil supply falling off so far in Q4 and demand has been increaseing creating a short fall. EIA forcast that to continue in Q1 '23 with seasonal spike starting in December and to continue climbing into
2023. OPEC confirms that forcast.

https://knoema.com/infographics/cbhnele/world-crude-oil-supply-and-demand-forecast-2020-2021

While rig count in U.S. has risen, rate of increase in shale oil production has been declining.

"Therefore, the Lower 48 oil production forecast has been significantly downgraded and EIR now expects growth of around 450,000 bpd exit-to-exit in 2022 and 560,000 bpd growth for 2023"

https://oilprice.com/Energy/Energy-General/The-US-Shale-Boom-Is-Officially-Over.html

U.S. crude oil stocks has been falling over the last two months.

"US Crude Oil Stocks is at a current level of 822.18M, down from 827.47M last week and down from 1.039B one year ago. This is a change of -0.64% from last week and -20.88% from one year ago."

While shale production has increased at a slower pace to approximately 450 - 550 kbbl/day exports have increased approimately 2.5 million bbl/day.

U.S. crude oil production graph