PTV - their Brazilian targets are updip from their shallow water Tartaruga well drilled from an onshore surface location. They are not deep water whatsoever.
PTV has 2 discoveries in Colombia that will be tested early Q1 - Morichito and Noelia. Morichito is expected to be an oil well coming on around ~1000 bpd gross (50% net).
PTV expects to bring on 900-1000 bpd by Q1. The first 450-500 will come online at Tartaruga in the next few days into existing production facilities. High netback production will give them their long-awaited cashflow to grow the company. There should be a pop on the news as it is a transformational event for them.
Presuming they get to ~1000 bpd, that implies they are trading about $40MM EV or $40K per flowing. That's cheap for a light oil play in Colombia/Brazil.
That said, MMT has more upside. Better cash flow, better share structure (no warrant overhang), clearer upside from development drilling. But their pipeline "disruption" issues are killing them - and until that is resolved (if it ever is), they will remain cheap and unloved.