PetroTal: An Overlooked Spin-Off

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About: PetroTal Corp. (PTALF)
by: Alexander O. Stahel
This article is exclusive for subscribers.
Alexander O. Stahel
Long/short equity, Deep Value, value, special situations
Summary

PetroTal is a small-cap oil production company, listed in Canada and headquartered in Houston, Texas. Its core asset is the Bretaña onshore field, located in Peru. It produces 9,000 bpd.

Our Core-NAV of CAD 0.9/share suggests 113% upside from today’s share price of CAD 0.43/share at a Brent price deck of $65 flat. But significant more upside is likely.

The key risks revolve around execution - not reservoir - and can be addressed every single day by the most competent management team which we explain in detail below.

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• One-Field Company: PetroTal (OTCPK:PTALF) is a small-cap independent oil & gas company domiciled in Canada with