B2Gold (BTO:TSX) announced its Q2/2013 results which appeared, on the face, to be weak.  However, a dig deeper illustrates that most of the downward earnings adjustments were related to one-time charges related to the closing of the acquisition of CGA Mining and the Masbate gold project in the Philippines.  Adjusted EPS came in below consensus of $0.03… Continue Reading

Aug. 9 (Bloomberg) — Pacific Rubiales Energy Corp., Latin America’s most valuable non-state crude producer, said buying a light crude producer in Colombia would help reduce transport costs for the mostly heavy oil producer. Increasing low-density crude output would reduce purchases of diluents needed to transport heavier oils by pipeline, Chief Financial Officer Carlos Perez… Continue Reading

Pacific Rubiales (PRE:TSX) the Colombian oil producer, headed by Co-Chairman Serafino Iacono, announced its second quarter results which were somewhat mixed.  PRE saw its net earnings diminish from $224 million ($0.76 per share) in Q2/2012 to $58 million ($0.18 per share) in Q2/2013.  The reason for the reduced earnings was foreign exchange losses as well… Continue Reading

Canacol Energy (CNE:TSX) provided production results from its wells in Colombia and Ecuador.  CNE’s total corporate production in July averaged 10,120 boepd, of which 7,027 bopd was crude oil with another 3,093 boepd of gas.  Month over month growth in total corporate production was 17.5% (8,616 boepd in May and June) and 22% (5,794 bopd)… Continue Reading

Platino Energy Corp (PZE:TSXV) to sell its 50% WI in the Morpho Block in the Middle Magdalena Valley Basin in Colombia to Parex Resources (PXT:TSX).  As part of the deal, Parex will give PZE a 4% NPI royalty on the block.  This makes sense for PZE because they need to allocate capital efficiently, like everyone… Continue Reading

Very strong results from Petroamerica Oil Corp. (TSXV:PTA) today, announcing flow tests from their Las Maracas-11 well at 3,600 bopd. Average production for the month of July for PTA (up to July 24) was 5,600 bopd, not including production from Las Maracas-11. The company has over US $48 million in cash on hand, and is fully… Continue Reading

LIBERTY METALS & Mining Holdings continues to take stakes in emerging gold and metals producers. This one has Karma. The unit of the large insurer, Liberty Mutual, came across my screen about a year ago, when it gave Red Eagle Mining in Colombia (RD in Canada) $8 million in exchange for a net smelter royalty… Continue Reading

Yesterday Petroamerica Oil Corp (C:PTA), an emerging light oil producer in Colombia, received a buy recommendation and a $.45 price target from Canaccord Genuity energy analyst Christopher Brown in Calgary. Canaccord Genuity now joins CIBC World Markets, TD Securities, Haywood Securities, Raymond James, and others in recommending Petroamerica’s shares. Mr. Brown cited PTA’s attractive valuation… Continue Reading

Yesterday I had another opportunity to hear Frank Giustra speak — this time at BCBusiness Magazine’s Top 100 event at Hotel Vancouver. In front of a crowd of 1,200, he was interviewed on stage by BCBusiness chairman Peter Legge. Frank Giustra became a millionaire in his early 20s financing small mining and energy companies. As Chairman… Continue Reading

From yesterday’s Stockwatch Energy Summary: Pacific Rubiales and Ecopetrol hold the largest interests in the $4.2-billion (U.S.) Bicentenario pipeline, with 32.88 per cent and 55 per cent, respectively. Petrominerales Ltd. (PMG), up 10 cents to $6.16, holds 9.65 per cent, and Canacol Energy Ltd. (CNE), up nine cents to $2.90, holds 0.5 per cent. The 960-kilometre pipeline will carry… Continue Reading

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… Continue Reading

Exploration Insights is a web-based subscription service that serves an international family of investors and speculators (approximately 40% US and 40% Canadian, with the remainder based in ~20 countries scattered across the globe). In addition to communications with our clientele, my research necessitates that I routinely email, Skype, and phone Canada, Serbia, Turkey, Indonesia, Australia,… Continue Reading

“We call it the Pacific effect, because we go to a new area, we enter, and we discover.” Ronald Pantin Venezuelans Find Oil Bonanza in Colombia as Shares Soar | Bloomberg

Postings by me will be light this week as I’m in Cartagena, Colombia relaxing. Thanks and catch up Monday May 27, Tommy

Mid tear Colombian oil and gas producer Pacific Rubiales Energy (TSX:PRE) today announced plans to buy back up to 10% of their public float, which would cost over $650 million at current prices. Read the press release here. Colombia’s oil producers in general are undervalued, according to the analysts we talk to. Frank Giustra backed Petroamerica… Continue Reading