Web Site : http://www.petrolatinaenergy.com


SUMMARY of PELE as of 24th Jan 2008, please see post 190 on page 10


Link to Page 10 of posts

silvermede, I have looked, however to me it seems fairly valued for the ongoing work, and also the problem of lots of stockholders sub 5p, who are not locked in and can sell for very big profits now, if they wish. This is likely the reason so far its done nothing special imo.

Nothing bad, just does not appear too attractive to me so far........

IMO :)

pp, what do you make of 40 shares at 23.25p just traded total 9.30 before fees.

Very strange.........but sometimes these trades do get reported. The odd 1 off share is often for those buying the certificate to frame it.

A 40 off ? Strange number.

Petrolatina Energy PLC
19 April 2007


PetroLatina Energy plc
('PetroLatina' or 'the Company')

Directors Shareholding

In accordance with Chapter 5 of the Financial Services Authority's Disclosure
and Transparency Rules, the Company was informed on 19 April 2007 that Gregory
Smith, a Director of the Company, is interested in 2,000,001 ordinary shares,
and Taghmen Ventures Limited (a company in which Gregory Smith has a beneficial
interest) and connected parties are interested in 12,850,000 ordinary shares,
collectively 14,850,001 ordinary shares in the capital of the Company,
representing approximately 13.46 per cent of the Company's issued voting share
capital.

To be fair to be fair I am going into "Hold" mode on this one now. No adding at sub 20p.

The departure of JJ Scott so soon after Nick Gay suggests there may be some issues to me. We also have the 2nd PDN payment which although its hoped will be debt, we cannot rule out as yet equity placings. On top of that the new guy is in, and he will no doubt be looking at 3 years time, which means for his first results you would expect a kitchen sink job (as in everything but). Therefore, I will just hold and observe and not add, the long term I think will be fine, just the Scott departure on top of Gay is a little too much perhaps ??

In the meantime I will add AST, IPL and CDL (and no PELE for now)

Well, I have been bearish on PELE for some time now, and now have no further holding in them, after abandoning the hold.

I may decide to buy back late summer, or may not, but for now, the situation at PELE is unclear, and I am very concerned by the "ex-Bitech" boys departures and what it may mean.

I may be wrong, and so, good luck to all who hold.

i think that if ever there was a good time to buy, then now or soon will be it.....

the new CEO has taken out the broom, now it's a matter of them being able to develop the Columbian production assets, so that they get about 1,000 to 1,500 bopd.... then do the exploration drilling, whilst waiting for more oil to flow through their pipeline.....

You have never been bearish from what i have seen of your posts, quite the opposite, it is therefore quite amazing that you post the following and hey presto an rns comes out days later. very interesting



papalpower
Date : 18/05/2007 @ 05:22


Well, I have been bearish on PELE for some time now, and now have no further holding in them.

Unlike plenty of BB posters, I do not try to ""ramp"" something up as I am selling (or even like some who never seem to sell any shares ), I have been bearish and have been offloading bit by bit.

I may decide to buy back late summer, or may not, but for now, the situation at PELE is unclear, and I am very concerned by the ""ex-Bitech"" boys departures and what it may mean.

I may be wrong, and so, good luck to all who hold.

PELE is one to avoid. Practically not a dependable management as it keep on changing. Clearly a SELL.

they got rid of the 2 blokes that were in charge.... while the company was languishing with projects at almost stand-still point....

they have Macquarie Bank on board - although that may change.... but in order for them to have got them their in the first place, means something positive....

although back to potential negatives....
- i noticed that some of the other board members are also from the same companies that the ex COO is from... so not sure how that will go down.....
- on top of this, is the actual pipeline going to be enough security for Macquarie Bank to hand out the cash to PELE.....

Looks like more PELE shares on the market and it has taken up more debt...doesn't look promising.


Petrolatina Energy PLC
30 May 2007

PetroLatina Energy Plc
('PetroLatina' or the 'Company')

Additional Listing

The Company has issued 830,000 new ordinary shares of $0.10 to Macquarie Bank
Limited ('Macquarie') as partial consideration for the agreement with Macquarie
to make available an extension of $1.7 million to the Company's existing loan
facility. Accordingly, the Company has made application for the admission of
830,000 new ordinary shares to trading on AIM. Admission is scheduled to take
place on 5 June 2007.

yeah - know what you mean..... but Macquarie are no mugs.... i mean why would they extend the loan if they thought it was a dud ??

unless it comes down to connections.....

Seems PELE are strapped for cash bankers get 830000 shares @18p=150,000 not bad if PELE cant at present repay the loan.

It would appear that the upkeep of the pipeline is very high, and perhaps its real worth is just 1m$ imv.

PELE are strapped for cash presently, its why I sold some weeks back. Once they get past this phase, I might consider buying back in.

Media comment, click http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry070731-160356

Interims out

http://www.investegate.co.uk/Article.aspx?id=200709260701424915E


Read much better than the prelims did.

Given Rudolph has now made the company viable, it does offer some strong upside should the La Paloma well strike commercial oil.

May indeed now be well worth a speculative punt ahead of that first drill.

I agree, potential upside, have been holding for a while, but dare i say, contemplating an average down...


LONDON (Thomson Financial) - Petrolatina Energy PLC narrowed its first-half pretax loss and said a stable production of about 450 barrels per day, an incremental production after the extension approval in the Tisquirama licence and the future Seraffin gas production create an upside for the company.

The AIM-listed oil and gas exploration company posted pretax loss of 2.9 mln usd compared with 3.4 mln usd a year ago.

Revenue rose to 3.1 mln usd versus 421,000 usd a year earlier helped by the acquisition of Petroleos del Norte on June 16, 2006.

TFN.newsdesk@thomson.com ash/slm

Update from GE&CR today. It highlights the upside potential, while correctly taking notice of the present risks. If an acceptable solution to the licensing issue is done (eg not too much given away) and the 2nd payment is indeed from debt........then the SP can start to rerate upwards. Risk / potential reward play it is, thats for sure.


"PetroLatina, the AIM listed oil and gas exploration and production company with operations in Colombia and interests in Guatemala, released its results for the six months to 30th June 2007 on September 26th. It reported a gross profit figure of $1.926 million, up from 0.363 million, on a turnover figure of $3.11 million, up from $420,000. Overall, PetroLatina reported an operating loss of $2.926 million as a result of administrative costs which increased from $3.953 million to $4.776 million. Since the period end the company has closed its London office and reduced the senior managements remuneration which will save $2 million per annum.

The companys outstanding debt with Macquarie Bank was approximately $5.3 million at the period end and its cash balance was $2.22 million, down from $4.655 million 12 months previously. At the period end PetroLatina had net assets of $16.787 million, a sharp fall on the $47.3 million at the end of the first half of 2006. The significant decrease in net assets is principally attributable to the disposal of its Guatemalan assets for just $4 million in cash in May this year, following discouraging results. PetroLatina currently holds a 20% retained interest in the first three wells to be drilled in Guatemala.

The company is now focused on Colombia, where it seeks to capitalize on the opportunities presented by the deregulation of oil and gas markets and where it owns some exciting exploration licenses. PetroLatina enjoys stable production of 450 barrels per day plus incremental production after the extension approval in the Tisquirama License; it should enjoy future gas sales from the Seraffin field and is drilling two exploration wells shortly. The company holds 50% and 25% interests in the Los Angeles and Santa Lucia fields on the Tsquirama license respectively, and a 100% interest in the Dona Maria field. The Seraffin gas project is ready to commence production, the last outstanding delay is the gas pipeline owner needing to be satisfied with Ecopetrols commitment to underwrite the quality of the gas produced.

Elsewhere, PetroLatina is currently in the process of acquiring new seismic data over the Midas block following its encouraging first results, with the view of drilling an exploration well to 8,000 feet. This follows the acquisition of new seismic in March/April this year over the La Paloma block, where results have identified a very large promising 4-way dip closure. The company is expected to follow up by drilling an exploration well at total depth of 10,000 feet, within the next 3-4 months. The company acquired an 85% interest in Midas and an indirect interest 80% interest in La Paloma in March 2006. PetroLatina is confident that it will take the project forward.

In addition, PetroLatina owns the Rio Zulia-Ayacucho pipeline in the prolific Catacomba basin, where the company could see increased cash-flow from greater crude oil volumes transportation. The company remains confident in the value of its exploration and production assets in Columbia, following progress made on in-principle agreement to extend the license at Tisquirama with EcoPetrol. It should be noted that no final agreement has yet been signed and concerns on this point remain, in our view, a significant drag on the share price. Even though the company is still negotiating the terms of the extension, MacQuarie bank has agreed to finance a large portion of the development costs associated with this license extension if it is granted.

We believe that the potential value for the companys portfolio, if the licensing issues and financing issues are successfully resolved, is worth at least 48.76 million ($95.1 million) or 42p a share. This includes a minimal value for Seraffin. However given the uncertainty surrounding the company's license position, at 11.5p, our stance remains hold. "

GE&CR often give the wrong advice. I have been caught by their ill advice on Encore Oil (bought at 30p, now 16p), Metal Exploration (bought 45p in August, now 36p, target 88p). By the way Petrolatina now 11p, it was called Taghmen Energy at 60p and the advice then was buy by GE&CR slightly more than a year ago.

hyleo - GE&CR did not say buy TAG. They did come in on PELE (the new name) around 20p with "speculative buy" if I remember. Its not impartial commentary, however this write up on PELE is decent, its notes the upside and the risk.......thats correct.

IF the license extension is done well AND IF the 2nd payment is done via debt - then yes, there really is significant upside available.