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Petrotal Corp T.TAL

Alternate Symbol(s):  PTALF

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.


TSX:TAL - Post by User

Post by drunk@noonon Jan 24, 2024 10:20am
177 Views
Post# 35842795

It's the extremely high non-drilling cap ex is what is

It's the extremely high non-drilling cap ex is what iskilling us. Drilling costs 50 million and other cap ex, 80-90 mill. This after hudge non drilling cap ex of atleast that amount in 2023. And forecasted similar amounts for 2025. I realize they need to build up their water disposal capacity, but they have spent, what? 100 million over that last couple of years to support such infrustucture. Now they are rushing out to pave the riverbank or whatever the 10's of millions of dollars are going toward. Sure  would like to know if their is any non-arms length relationships between management and the companies they are shelling out 100's of millions of dollars to. Sure doesn't help when they are currently producing 22-23,000 bopd (see this weeks petroperu numbers) and they constantly mention this in presentations, yet they give lowball guidance for q1 and 2, well below this--which of course, along with the  oversized cap ex, made the projeccted free cashflow plummet, and the shareprice is following suit. 
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