PetroTal at C$0.30 and 10K bopd sports an EV/bopd ratio of C$25,430 according to my notes.
At C$0.25 and 10K bopd, the ratio is C$21,192.
There is not enough history to use cash flow or FFO. Not sure that 2019-end reserve estimates are all that useful in the current context, in any event..... Frontera's 2P reserves are cheaper than PetroTal's, C$3.5/boed versus C$5.6/bopd.
Frontera is trading at an EV/boed ratio of C$12,944 at a share price of C$4.05.
None of this is strictly 'apples to apples' comparison but if the risk of political holdup in the Peruvian Amazonia is a major issue, then the comparison with Frontera has some merit.
Disclosure: was busy buying Frontera over the last couple of months; hold a tiny interest position in PetroTal.