Eric Nuttall PetroNova Inc. PNA-X COMMENT Aug 16, 2011

Stock is down about 23%. Sitting with about $40-$45 million in cash and should be spudding a well in the next couple of weeks. With some news, the stock should do better.

Eric Nuttall

Unknown

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$1.040

Stock price when the opinion was issued

oil gas

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Has the impression that it is very under owned and only covered by one analyst. Well funded balance sheet. Have a huge running room in Colombia in 3 different key areas all of which are on trend with significant discoveries.

PAST TOP PICK

(Top Pick Feb 9/11, Down 45.00%) Didn’t drill a single well. Sitting on $44 million of cash. He is going to hold it.

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Eric Nuttall PetroNova Inc. PNA-X COMMENT Aug 16, 2011

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PetroNova Inc.(PNA-X)

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