Pipeline in Peru needs to close due to CV 19 and Bretana have to shut in — not cool
I bought more, looking forward to management being to sort out this tough situation with PetroPeru and Contractors. If they can bring production from 1K to 10K bopd in a year, then they should definitely be capable of negotiating payments and liabilities.
PetroTal and UOG have a decent chance of surviving this oil crash and can come out stronger than ever.
They’ll approximately have 15M USD to survive this oil storm. Is that enough?
“As of March 31, 2020, the Company has $7.3 million of cash on hand, which is prior to receipt of approximately $7.5 million, from net proceeds of March oil sales.”
Cash in hand for PTAL is my biggest concern. If Brent prices recover to ~ $30/bbl, I believe PTAL will flourish and come out stronger than before. at $.205 CAD/ share in TSX.V, this is a great entry price
*This is not financial advice, I’m just spewing out my thoughts for my own personal use.