figambler

Frontera’s Corentyne Block Update

Posted on January 23, 2021 7:06 amby figambler

On Jan 14, 2021, Total and Apache announced the following

Keskesi East-1 encountered targets in the upper Cretaceous-aged Campanian and Santonian intervals. The shallower Campanian interval contains 58 meters (190 feet) of net oil, volatile oil and condensate pay and the Santonian interval contains 5 meters (16 feet) of net oil and volatile oil pay. Fluid samples indicate API oil gravities of approximately 27 to 28 degrees in the Campanian and 35 to 37 degrees in the Santonian. The Keskesi East-1 well is continuing to drill to deeper Neocomian-aged targets. Upon completion of operations at Keskesi East-1, the Noble Sam Croft drillship will be released as planned.

source: https://www.globenewswire.com/news-release/2021/01/14/2158522/0/en/Apache-Corporation-Announces-Fourth-Consecutive-Oil-Discovery-in-Block-58-Offshore-Suriname-at-Keskesi-East-1-Well.html

Now let me show you where CGX’s block is. The green area belongs to CGX (effectively Frontera). Picture tells all, have a good evening!

PTAL – road to recovery

Posted on January 2, 2021 7:33 amModified on January 2, 2021 7:33 amby figambler

From Flying to Crashing to Take off again

PTAL had an excellent 2019 and was on the verge of taking off in 2020; unfortunately, Covid 19 had a major impact on the oil market and Peru – oil prices crashed, followed by ONP shutdown, followed by social and political unrest. What a crazy year!

Strapped on cash, halted cashflow and flooded with liability, PTAL sadly had to raise at a less than ideal price. I wasn’t too happy about that.

But it appears things have turned in Q4 2020, with ONP re-opening, Brazil export route successful with decent netback, and RBL and Vendor liability discussions in progress.

PTAL plans to resume production to 10000 BOPD in mid January 2021, meaning A LOT of cashflow.

With most concerns out of the way, we might wonder, what’s going to happen with contingent liability, and vendor liability. Lowie reached out to PTAL Management and have the following summarized.

Summary from PTAL:

Vendors supportive
Understand issue is community / govt • managing funds carefully
at full production all obligations can be met quickly
as 2nd largest producer and plenty of drilling planned vendors know there’s lots more to come.
global market stability is helping with RBL etc discussions and hopeful will conclude soon

From what we gathered, contingent and vendor liability will be resolved, which is excellent news.

I look forward to a fruitful 2021 for PTAL.

Cautiously optimistic on Frontera, United Oil and Petrotal

Posted on December 20, 2020 7:42 amby figambler

Quick Recap

Frontera – Increased Production, Colombia drilling, Guyana, Midstream domination

United – Egypt success, Jamaica farmout

Petrotal – high netback, production increase, exploration

Why cautious? All these things will keep oil prices down and limit upside.

CV19 might still be a thing
US Oil Rig slowly increasing
OPEC+ disputes

Well, it doesn’t matter for UOG since it’s been pretty much stagnant even though Brent prices rose more than $10. I’m really looking for its Jamaican assets to shine.

Pausing on aggressive oil investments for now

Posted on December 13, 2020 6:26 pmby figambler

Approximately 60% of my capital is invested in O&G sector, and 30% in Silver. With that said, I feel that I’ve allocated enough in the O&G for now; I’m not going to chase, but will continue to buy the dips. Oil equities rally significantly in Nov and Dec, so I’ll be watching on how this sector recovers in 2021.

Currently, I’m holding #TXP, #UOG #PTAL and #FEC in the O&G sector. I think #PTAL and #UOG will catch up in 2021, while #TXP and #FEC will continue to rise. It will be a bumpy recovery in my opinion.

Meanwhile, I’ll be working my 9-5 job and saving cash. I want to look at private investments in start ups in the years ahead for personal interest and diversification.

Working 9-5 isn’t my thing as it’s boring as f**k. I would say 50% of the time I’m dealing with politics and corporate agendas which I have no interest in. I would love to share my thoughts with my peers and coach my staff, but to survive in the corporate world, you have to play the game and never share your personal agenda or opinion.

United Oil and Gas, catalyst ahead and Jamaica for £100

Posted on December 6, 2020 8:40 pmby figambler

A lot of decent news coming from United Oil (UOG) in 2021. Egypt is expected to grow, no surprises there. Italy is a nice addition, but won’t change the company by too much.

Jamaica is where we want to pay attention to. Jamaica news will transform the company — for the good or bad. I’m expecting UOG to become a mid-cap in the years ahead.

Egypt (Nice)

More drilling, more wells
pipeline

Italy (Meh)

First Gas production

Jamaica (The big one!) <- Pay Attention to this one

Farm out
CPR
Many different prospects and targets!

Author: figambler