• We are increasing our target price from £0.70 to £1.20 per share on our new higher oil price assumptions.
• While we have taken a conservative view on 1Q22 production given the social unrest, December production exit rate at Bretana in Peru is expected to stand at ~21.5 mbbl/d. This represents twice the production level achieved in 4Q21. Given the scale of the company’s reserves and resources, this could increase further to ~27 mbbl/d by YE24 with further drilling.
• Given the regressive natu ....
04 Apr 2022
PetroTal Corp (AIM: PTAL): Ultimate play on oil price increase
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PetroTal Corp (AIM: PTAL): Ultimate play on oil price increase
• We are increasing our target price from £0.70 to £1.20 per share on our new higher oil price assumptions.
• While we have taken a conservative view on 1Q22 production given the social unrest, December production exit rate at Bretana in Peru is expected to stand at ~21.5 mbbl/d. This represents twice the production level achieved in 4Q21. Given the scale of the company’s reserves and resources, this could increase further to ~27 mbbl/d by YE24 with further drilling.
• Given the regressive natu ....