Category: Petroamerica Oil
66 Posts
POSTED ON May 15, 2015 BY Tommy Humphreys

Tonight I spoke to the CEO of Petroamerica Oil (TSXV:PTA), Ralph Gillcrist. The market is valuing Petroamerica at about C $100 million. With about US $26 million in the bank, its enterprise value is about C $69 million. PTA owns light and medium oil interests in Colombia. Since the start of the oil crisis in… Continue Reading

POSTED ON February 26, 2015 BY Tommy Humphreys

The oil price crash of late 2014 has been especially harsh on small-cap producers, and Colombian focused E-P Petroamerica Oil (PTA.TSXV) is no exception. Its shares have fallen over 70% since September 2014. The company reported December 31, 2014 year end reserves yesterday evening (NR here), focusing on 2P volumes of approx 8.1mmboe and a 2P… Continue Reading

POSTED ON February 13, 2015 BY Tommy Humphreys

I just got off the phone with the Petroamerica Oil CEO Ralph Gillcrist in Calgary. The company has been under intense selling pressure in recent weeks, after having declined approximately 75% since September. Clearly, investors in PTA were caught off guard in the oil price crash, myself included. Ralph’s message was Petroamerica has a strong… Continue Reading

POSTED ON November 07, 2014 BY Tommy Humphreys

Small-cap growth oriented Colombian oil and gas venture, Petroamerica Oil, symbol PTA on the TSX-Venture, announced two high-impact exploration wells are currently being drilled in Colombia with results expected by the end of the year. The Zampona-1 and Langur-1x wells are both 50% net working interest to PTA. They are located in the Llanos Basin of Colombia,… Continue Reading

POSTED ON October 22, 2014 BY Tommy Humphreys

[Sent to Premium Subscribers October 20, 2014] Investors waiting for money to flow into the mining sector may want to consider some alternative trading ideas in the interim. Colombian focused oil producer Petroamerica Oil Corp. (PTA.TSXV) offers a good risk-reward profile at its current valuation. With $65 million cash and $35 million debt, Petroamerica trades at… Continue Reading

POSTED ON October 15, 2014 BY Travis McPherson

Shares of Platino Energy (PZE:TSXV) remain halted this morning after the company announced it would be acquiring Colombia Energy Development Company (CEDCO) for US $50 million in cash. CEDCO is a wholly-owned subsidiary of Global Energy Development Plc. The Rationale: CEDCO holds 100%-interests in three exploration blocks in the Llanos Basin covering roughly 31,000 gross… Continue Reading

POSTED ON September 25, 2014 BY Travis McPherson

This morning, one of the most undervalued Colombian light oil producers, Petroamerica Oil (PTA:TSXV), provided the market with an update on their recently acquired Putumayo Basin assets.  Community issues in the region have impacted timelines for companies operating in this area, including Petroamerica and Gran Tierra Energy.  This has forced Petroamerica to slightly revise 2014… Continue Reading

POSTED ON August 25, 2014 BY Tommy Humphreys

Accomplished natural resources investor Frank Giustra has two long term investments in the junior energy sector, Colombian focused Petroamerica Oil (PTA.v), and European focused Petromanas Energy (PMI.v). Disclosure note, I own both of them. In early trading Monday, one of these companies was climbing strongly, while the other was heading in the wrong direction. Confirmed… Continue Reading

POSTED ON August 20, 2014 BY Tommy Humphreys

Colombian focused E&P Petroamerica Oil (TSXV:PTA) filed their financials last night and provided an operational update (Here’s the news release). This is the first from PTA since they successfully acquired Suroco Energy in July in a hotly contested takeover contest. The company reported a substantial increase in reserve numbers on the newly acquired Suroco assets. These numbers increased significantly in a… Continue Reading

POSTED ON July 17, 2014 BY Tommy Humphreys

“There are some simple truths in the resource game,” Frank Giustra tells me. “The first truth is that you pick a great management team and you wait.” For the uninitiated, Giustra is one of the more successful natural resources investors of the past thirty five years. Some of you may know him as the founder… Continue Reading

POSTED ON July 15, 2014 BY Tommy Humphreys

Petroamerica Oil shares are headed a lot higher following a successful and hard fought acquisition of Suroco Energy announced earlier. Petroamerica has lagged its Colombian oil peers considerably, constantly trading for less than 1.5x cash flow because of its relatively small size and reserve life, concentration risk of its main Las Maracas asset, and a… Continue Reading

POSTED ON July 09, 2014 BY Travis McPherson

(Suroco shares are currently trading at $0.83 per share, indicating the market currently anticipates Petroamerica’s offer will win.) This morning, VETRA, the private Colombian oil company that is in a battle over Suroco Energy (SRN:TSXV) with Calgary-based Colombian light-oil producer Petroamerica Oil, raised their cash bid for the company to $0.85 per share, representing a small, 2.4%, increase… Continue Reading

POSTED ON June 27, 2014 BY Tommy Humphreys

TD Securities energy analyst Jamie Somerville in Calgary raised his price target on Petroamerica Oil Corp to $0.60 this morning from $0.55, citing its relative valuation (particularly on EV/DACF), high netbacks, potential for free cash flow generation, and several high-impact exploration wells planned for the next 6–9 months. Shares in Petroamerica last traded at $0.35… Continue Reading

POSTED ON June 26, 2014 BY Travis McPherson

After bumping their original share and cash offer for Suroco up 33% (from $0.60 to $0.80 per share), Petroamerica Oil (PTA:TSXV) told investors this morning that their $0.80 offer would be the final one.  Suroco’s Board is standing by Petroamerica’s offer as well. On April 28th, Petroamerica announced they had reached an agreement with the Board of… Continue Reading

POSTED ON June 20, 2014 BY Tommy Humphreys

After being halted for all of yesterday, junior Colombian oil producer Petroamerica Oil Corp, and its current friendly takeover target, Suroco Energy, have come up with a stronger bid for Suroco to trump a hostile bid announced by Vetra Holding the previous day. Petroamerica’s offer is now worth $0.80 per share and provides Suroco shareholders with… Continue Reading

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