Petroamerica Oil (PTA-X)

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.

He owns names in Columbia already. This one has done well. Came up with a fairly good discovery. Likes the story and there should be quite a bit of upside. Cash flows should be increasing over the next number of quarters and there is some upside in expiration also.

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.