Energy - smartinvestment.ca

[Bobwins]

Bought a few shares this morning. PTA.v announced hitting a big well in Colombia. 3600bpd oil a couple of days ago. PTA owns 50%.

http://www.stockhouse.com/news.....rovides-an


They plan 3 more wells on this play before year end.

PTA.v is already profitable. Earned $14million in Q1 or .02eps. Yes, they have a ton of shares outstanding. 581million plus warrant's and options that could take it as high as 900 million. Won't happen because many are priced well out of the money but 178million are priced at .35 or lower so add that to 581 and you get around 750million shares outstanding.

Earned 14million plus 7 million depletion/deprec so 21million cashflow in Q1 divided by 750= .028cashflow before the new well.

They were at 5000bpd in Q1. Let's assume with the new well +3 more by year end, they increase to 7,000bpd net to PTA.

7,000 X $80 netback= 560,000/day X 90 days= $50million cashflow/qtr divided by 750million shares= .067 cashflow/qtr X 4 = .27 annual cashflow.

Currently selling for .26. Has decent balance sheet and cash to drill.