PMG = Pure play on S. American oil
Posted: Mon Mar 07, 2011 3:06 pm
Highlights from the 4th quarter:
> Petrominerles (PMG) had three significant exploration successes in the quarter, Caruto on the Corcel Block, Mochelo on the Rio Ariari Block and Yatay on the Candelilla Block.
> Production was 33,142 bopd in the fourth quarter of 2010, a 35 percent increase from Q4 2009. This was just slightly below my forecast.
> Production has further increased in 2011 to average 37,582 bopd in January and 42,501 bopd in February, mainly due to production additions from our Yatay and Mantis discoveries. I'm increase my full year production forecast to 44,000 bopd.
> PMG recorded funds flow from operations of $153.3 million ($1.52 per basic share) and net income of $49.7 million ($0.49 per basic share). Funds flow from operations was $6.00/share for 2010. Assuming an average oil price of $90/bbl for 2011, cash flow per share may top $8.50 in 2011.
> Petrominerles (PMG) had three significant exploration successes in the quarter, Caruto on the Corcel Block, Mochelo on the Rio Ariari Block and Yatay on the Candelilla Block.
> Production was 33,142 bopd in the fourth quarter of 2010, a 35 percent increase from Q4 2009. This was just slightly below my forecast.
> Production has further increased in 2011 to average 37,582 bopd in January and 42,501 bopd in February, mainly due to production additions from our Yatay and Mantis discoveries. I'm increase my full year production forecast to 44,000 bopd.
> PMG recorded funds flow from operations of $153.3 million ($1.52 per basic share) and net income of $49.7 million ($0.49 per basic share). Funds flow from operations was $6.00/share for 2010. Assuming an average oil price of $90/bbl for 2011, cash flow per share may top $8.50 in 2011.