Petroamerica Oil Corp (C:PTA)
Shares Issued 580,798,260
Last Close 6/25/2013 $0.25
Wednesday June 26 2013 - In the News

The Globe and Mail reports in its Wednesday, June 26, edition that CIBC World Markets analyst Ian Macqueen has commenced new coverage on Petroamerica Oil with a "sector outperformer" rating and 40-cent target price. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Macqueen says shares in the junior producer operating in Colombia are cheap based on cash flow, and its expected production and reserves growth this year. Mr. Macqueen notes Petroamerica is trading at 62 per cent of his net asset value estimate and 2.4 times his estimated 2014 cash flow. He says, "It showed good results in 2012 with the development of the Las Maracas (oil block), but will need additional appraisal and exploration success to grow reserves and production." The median price target, according to Bloomberg, is 50 cents. The Globe's Ian McGugan was keen Petroamerica, among others, in the Number Cruncher column on Feb. 5 for its rising cash flow. The shares were then trading at 33.5 cents. Petroamerica shares have a 52-week range of 12 cents to 40 cents.

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