Market's view on PetroTal
Published on April 2024
- A stock watcher mentioned significant changes within the company, specifically concerning the departure of an individual named Doug Urch, which seemed forced by someone named Manolo.
- The company has been issuing a special dividend every quarter since Q3 2023, referred to as a liquidity sweep.
- Questions were raised about the possibility, amount, and timing of a special dividend payment for the current year.
- Discussion on withholding tax rates for dividends, with varying charges between 15% and 25% depending on the broker.
- The company’s stock was observed to have risen despite a generally negative market trend.
- Updates were shared related to the company’s website, including operational data and river level guidelines at Iquitos which could impact operations.
- Performance metrics for the first 13 days of April were highlighted, with an average oil production noted, along with the total for the year to date.
- A stock watcher expressed a long-term investment strategy focused on dividends, indicating they would only consider selling if the stock price significantly increased.
- A strategy was discussed for buying and selling the company’s stock based on price movements, with specific price points mentioned for potential action.
- Satisfaction was expressed with the company’s consistent dividends and current oil prices, supporting a belief in the stock’s undervaluation.
- Concerns were voiced about the accumulation of restricted cash and its delayed distribution to the local community, emphasising the importance of community benefitting from the company’s operations.