Record quarterly production in Q2 (as already reported by Peruvian government) and record revenue due to strong Brent prices.
Restoration of the ONP pipeline this quarter will allow production to flow unrestricted.
1/4
Latest horizontal well on production early Q3.
Net cash position with plans to pay off the bond this quarter. With bond restrictions removed, the company will begin to return cash to shareholders from Q4.
2/4
Sea change in perceived country risk when Peruvian President Castillo is shown the door. Castillo has been kicked out of his own party and is facing corruption charges. The next president will almost certainly be from the pro-resource establishment.
3/4
Oil prices poised to strengthen later in the year as SPR releases run their course and China pivots from zero covid after Xi consolidates his control at the national congress in the fall.
4/4
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