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Analyses on Ratio Petroleum (3)
- March 18, 2026March 18, 2026
- Follow-up
Ratio Petroleum: Why the Guyana Resource Update Still Does Not Get Close to Monetization
The Guyana resource update keeps the geological option alive, but it does not bring Kaieteur closer to monetization: there is still no replacement operator, Tanager still does not stand on its own, and the block remains dependent on an extension, a partner, and another well.

- Follow-up
Ratio Petroleum: SC76 Interpretation and the Merger Clock with Ratio Energies
SC76 has become both Ratio Petroleum's main valuation event and the clock that governs any merger discussion with Ratio Energies. Until the interpretation and the resource report are published, neither side has a stable basis to price the asset or the deal.

Ratio Petroleum 2025: Time Was Bought, but Everything Still Waits on the Philippines Interpretation
Ratio Petroleum ended 2025 in a calmer accounting and liquidity position, but not in a more proven business position. Lower spending and the expiry of management fees bought time, yet the story still depends almost entirely on SC76 interpretation in the Philippines and on the ab…

















