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 Apr 05, 2023 11:58am

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Post# 35381187

Looking Good

March Production:

https://www.perupetro.com.pe/wps/wcm/connect/corporativo/7318e1ef-aaa2-4c91-8313-7d2090cba5fa/Producci%C3%B3n+l%C3%ADquidos.pdf?MOD=AJPERES&liquidos

Guidance for 2023 was 14,000 to 15,000 bpd.

March came in at 635,485 barrels. That is a daily average of 20,500 bpd. Way above guidance.

The price of Brent is gning back up. OPEX cut production by another million barrels. Demand is climbing.

It was the U.S. administration release of oil from the strategic oil reserve that from last July caused the price of oil to pull back from a high of $117 WTI.

OPEX is countering that at a time with rising demand with China opening up, industrial demand picking up in Europe, demand at record high in India, and driving increasing as warm weather returns to North America.

https://tradingeconomics.com/commodity/crude-oil

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