GeoPark (GRPK US)C; Target price US$20: Cash tax reduction and high impact drilling– The only item of interest in the 2Q20 financials was the fact that GeoPark did not pay any cash tax in 2Q20 (we were carrying a payment of US$40 mm). This explains why the cash balance at the end of June was so much higher than we expected at the time of the 2Q20 operating update in July). This also reflects important positive changes in Colombia. First, US$20-25 mm cash taxes in 2020 have been deferred to 2021 ....

07 Aug 2020
Auctus on Friday - 07/08/2020
BP PLC (BP:LON), 389 | Frontera Energy Corporation (FEC:TSE), 0 | Genel Energy PLC (GENL:LON), 60.4 | GeoPark Ltd (0MDP:LON), 0 | Parex Resources Inc. (PXT:TSE), 0 | Pharos Energy PLC (PHAR:LON), 21.6 | Kosmos Energy Ltd. (KOS:LON), 155 | Maha Energy AB Class A (0GEA:LON), 0 | VAALCO Energy, Inc. (EGY:LON), 275

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Auctus on Friday - 07/08/2020
BP PLC (BP:LON), 389 | Frontera Energy Corporation (FEC:TSE), 0 | Genel Energy PLC (GENL:LON), 60.4 | GeoPark Ltd (0MDP:LON), 0 | Parex Resources Inc. (PXT:TSE), 0 | Pharos Energy PLC (PHAR:LON), 21.6 | Kosmos Energy Ltd. (KOS:LON), 155 | Maha Energy AB Class A (0GEA:LON), 0 | VAALCO Energy, Inc. (EGY:LON), 275
- Published:
07 Aug 2020 -
Author:
Stephane Foucaud -
Pages:
5 -
GeoPark (GRPK US)C; Target price US$20: Cash tax reduction and high impact drilling– The only item of interest in the 2Q20 financials was the fact that GeoPark did not pay any cash tax in 2Q20 (we were carrying a payment of US$40 mm). This explains why the cash balance at the end of June was so much higher than we expected at the time of the 2Q20 operating update in July). This also reflects important positive changes in Colombia. First, US$20-25 mm cash taxes in 2020 have been deferred to 2021 ....