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PetroAmerica PTA.v C$.285

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By Bobwins

Posted: Monday Jan 12 5:54:04PM 2015

PTA.v  -.005 to C$.15  Sold out of PetroAmerica today.  They are like most drillers.  They issued guidance calling for pretty dramatic cuts in capex and drilling.   Production ended 2014 just under 6,000boepd and will likely not increase much.  They will review capex program in 6 months.  

By Bobwins

Posted: Friday Nov 7 11:38:32AM 2014

PetroAmerica is a junior operating in Colombia.  They are producing around 7,000boepd with solid cashflow and excellent prospects going forward.  They have holdings in the Llanos and Putamayo Basins and are spudding several exploration wells that could prove up millions of barrels of oil.

I like PTA.v here because it's almost all oil, gets Brent pricing and seems on the cusp of a big upward surge in production.  They recently merged with another company and more than doubled their reserves.  They also got a substantial acreage position in the Putamayo Basin, which is where several of their best prospects are going to be drilled.


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PetroAmerica is VERY cheap and projecting very high rates of growth in 2015.  My avg cost is around C$.26.  


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