Opinions
Eric Nuttall
Petroamerica Oil
PTA-X
BUY
Dec 14, 2010
Been quiet, awaiting closing of an acquisition. Likes it quite a bit. Management is quite experienced.
$0.570
Stock price when the opinion was issued
oil
gas
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Currently making an offer of their shares at $0.20 with a half a warrant with each share that can be exercised at $0.35. a lot of potential in resource but converting it into production has been a problem, Doesn’t like the dilution of the share base. He prefers to invest in the services space right now. Interesting prospects but at the same time
oil
gas
BUY
Likes this. Recently had good results with the drill bit. This is one of those companies that had done some financing last year at much higher prices but Colombia was really not the place to be last year. Has started to come through with production numbers that look much better. Undervalued.
oil
gas
COMMENT
Owns warrants. Does not rank very well in his process. Had good results, but being in that small cap area as well as being in Colombia hasn’t helped them. Investors have been fairly risk adverse the last couple of years, especially in the energy sector. They have a lot of blue sky ahead of them. Potential is through the roof, but they have to prove it.
oil
gas
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