Petroamerica Oil Corp. (fka PTAXF)

[insomniac]

You may see a move in it shortly ,as they have.35 warrants expiring on may 9//.(it saves the company a lot of cash.) The problem I see is that they get almost all of there oil from one well ... Worries are that the well wIll deplete. thus the very low stock price... There cash rich , which is better than having to have to finance your exploration, however a company like this has to use that money and make bets that theyll make more than they spend..Only results will tell going forward. I own some and watch it daily, but Ive been very disappointed with it so far, especially considering that that the oil sector and that market in general( excluding the last couple of months has done much better than this stock.. It sells for a very low price vs there peers but everyone knows that ,, Its not a secret nor is it an undiscovered security as its followed buy a couple of note worthy brokers.. I dont think there is much downside to worry about in the next couple of months.. after that , its gonna depend on there plans and there success going forward. If your looking for a trading stock , this is NOT where you wanna be.. unless you wanna play the anticipated warrant expiration event .

[buccaneer1961]

oh,ok,im interested in this stock as a growth stock and have it on watch,in others now looking where to put the winnings into

[RickKayne]

Being that my experience is business, and financial markets more than geology, I tend to look at the territory as a whole, and who the predecessors are. I read about the business climate of the country. Generally speaking there are smart natural resource investors primarily Canadian gents running some big projects down there. Some directors are involved involved in related projects down there, when pacific rubiales and gran tierra, have found some early success..

[buccaneer1961]

I never heard of that company,what do you think of them?
they are making good $$

[tsoprano-1]

Good article. I like it when the owners have some skin in the game.

T

[RickKayne]

Could be the next Pacific Rubiales, according to the top investors.
http://www.businessinsider.com/colombia-pacific-group-interview-2013-4

[tsoprano-1]

I bought at .31 or so. May average down after next report comes out.

T

[tsoprano-1]

Good catch, did not see that. Should firm things up.

T

[buccaneer1961]

Petroamerica Oil Corp.





News Releases

Petroamerica Announces Approval of Normal Course Issuer Bid

March 28, 2014

CALGARY, AB, March 24, 2014 - Petroamerica Oil Corp., (TSX-V: PTA) ("Petroamerica" or the "Company"), a Canadian oil and gas company operating in Colombia, today announced that the TSX Venture Exchange (the "Exchange") has accepted its notice to make a normal course issuer bid ("NCIB") to purchase outstanding Petroamerica common shares ("Common Shares") on the open market, in accordance with the rules of the Exchange.


As per the Exchange approval, Petroamerica is authorized to purchase up to 55,175,760 Common Shares representing approximately 10% percent of Petroamerica's public float (as defined in the regulations and policies of the Exchange). As of March 21, 2014 there are 595,148,260 Common Shares outstanding of which 551,751,760 represents the public float.


Petroamerica is authorized to make purchases during the period of March 24, 2014 to March 23, 2015 or until such earlier time as the NCIB is completed or terminated at the option of Petroamerica. Any Common Shares that Petroamerica purchases under the NCIB will be purchased on the open market through the facilities of the Exchange at the prevailing market price at the time of the transaction. All Common Shares acquired under the NCIB will be cancelled. All purchases will be made through Canaccord Genuity Corp.


Petroamerica's Board of Directors believes, from time to time, the market price of the Common Shares may not reflect their underlying value. Petroamerica's cash flow capability and balance sheet provide the opportunity to capitalize on the current valuation of Petroamerica in the market which, in the Board's opinion, significantly discounts the value and potential of the Company's asset base. The Company's cash on hand as well as cash from operations will fund the NCIB program, and continue to support Petroamerica's expansion and growth opportunities.

About Petroamerica:
Petroamerica Oil Corp. is a Canadian oil and gas exploration and production company with activities in Colombia. Petroamerica produces more than 6,400 boepd and has interests in five blocks, all located in Colombia's Llanos Basin. Petroamerica share are listed on the TSX Venture Exchange under the symbol "PTA".


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT:


Nelson Navarrete
President and CEO


Colin Wagner
CFO


Ralph Gillcrist
COO, Executive Vice President


Tel Bogota, Colombia: [phone]
Tel Calgary, Canada: [phone]
Email: [e-mail]
Web Page: www.PetroamericaOilCorp.com

[buccaneer1961]

company presentation:
http://www.petroamericaoilcorp.com/main/includes/media/pdf/PTA_CorporatePresentation.pdf

[buccaneer1961]

http://www.petroamericaoilcorp.com/main/index.php?id=operations&operation=corporate

[buccaneer1961]

im doing research on this company looking to get in this week,any idea on pps expectations? production etc?

[buccaneer1961]

looks like a share buyback
http://www.petroamericaoilcorp.com/main/index.php?id=newsroom_read&news=141

[buccaneer1961]

where do you see this company going?

[buccaneer1961]

new here

[insomniac]

Expectations are for updates next week.

[RickKayne]

Creeping up.

[insomniac]

Fitch upgrades columbia to investment grade BBB. Columbia is becoming more stable and prosporous.. Great environment for PATXF.

[RickKayne]

There are some powerful oil guys on the BOD of this one. My research on up and comers always starts with the guys in charge.

[RickKayne]

Good article: COLOMBIA DRILL BABY

http://seekingalpha.com/article/1769832?source=iphoneportfolioapp_copy

[RickKayne]

Going to pick some up on Friday

[RickKayne]

Very interested here.

[RickKayne]

Today might be a bargain..

[RickKayne]

I'm looking to get in..

[ICBS]

http://www.petroamericaoilcorp.com/main/index.php?id=operations&operation=llanos

[ICBS]

Petroamerica Announces Light Oil Discovery at La Casona-1 and Provides an Operations Update for its Colombian Activities

November 13, 2012

Petroamerica Oil Corp. (TSX-V:PTA)(“Petroamerica” or the “Company”), a junior oil and gas company operating in Colombia is pleased to provide an update of ongoing drilling and production operations for certain properties in Colombia, including the discovery of light oil at La Casona-1. The Company is actively involved in the drilling and testing of the La Casona-1 exploration well, the Las Maracas-5 appraisal well and the Balay-4 development well.

The La Casona-1 exploration well, situated on the El Eden Block where Petroamerica holds a 40% working interest, was spud on September 4, 2012 and has reached a total depth of 16,450 feet measured depth (“MD”) in the Une Formation. The well encountered hydrocarbon shows while drilling through the C7, Mirador, Gacheta and Une reservoirs. A petrophysical evaluation of LWD (logging-while-drilling) and cased-hole logs indicates a total of more than 80 feet (true vertical depth (“TVD”))of potential net hydrocarbon pay in the well. The two primary reservoir objectives, the Mirador and Une, have interpreted gross hydrocarbon-bearing columns of up to 40 feet (TVD) and 77 feet (TVD), and potential net pay thicknesses of 30.5 feet (TVD) and 50 feet (TVD), respectively. The well was cased-off and the Une reservoir flow tested using the drilling rig for more than 33 hours with intervening shut-ins. During the last and most representative flow period of 8 hours and 30 minutes, the well produced under natural flow conditions light oil (36o API) at an average rate of approximately 1,200 barrels of oil per day (“bopd”) with 4.0 MMCFD of gas and a maximum oil rate of 1,288 bopd. The well head flowing pressure was 3,010 psi and the watercut at the end of the test was less than 0.8%. The well flow rate was restricted through a 20/64 inch choke due to gas flaring limitations. The drilling rig will be released and a workover rig will further assess the well’s ultimate flow potential and test other reservoirs with identified hydrocarbon pay. Of Petroamerica’s 40% working interest in the El Eden Block, 15% is still pending ANH (Colombian National Hydrocarbon Agency) approval.

The Las Maracas-5 well, located on the Los Ocarros Block where Petroamerica holds a 50% working interest, was spud on September 30, 2012 and has reached a total depth of 12,970 feet MD in the Une Formation. Oil saturated cores were recovered from the Mirador and Gacheta reservoirs and these cores are currently being analyzed in the laboratory. The well has been logged and cased with the wire-line log interpretation indicating more than 48 feet of net oil pay (TVD) in the Mirador and Gacheta sands, including a new lower Gacheta sand with 15 feet of net oil pay (TVD). The well is undergoing flow testing and thus far, the new lower Gacheta sand has yielded over a 20 hour flow period, under natural flow through a one inch choke, an average rate of 635 bopd and a maximum rate of 754 bopd of 32o API oil. The watercut at the end of the test was 0.3%. The middle Gacheta sand, which produces at the Las Maracas-3 and Las Maracas-4 wells, will be the next sand to be flow tested following which the Tuscany 109 rig will drill the Las Maracas-6 well.

The Balay-4 development well, situated in the southern part of the Balay Field where Petroamerica holds a 15% working interest, was spud on October 12, 2012. As of November 13, 2012, the well was drilling at a depth of 8,567 feet MD in the Leon Formation.

For the month of October, the Company averaged a total working interest production of 2,718 bopd (2,468 bopd net after royalties).

Petroamerica is also pleased to announce that it has contracted the services of Raj Patel in the capacity of Strategic Advisor for Marketing and Risk Management. Mr. Patel is a Professional Engineer with over 30 years of experience in marketing crude oil, natural gas liquids and natural gas, as well as commodity price risk management. Mr. Patel was formerly the Vice President of Marketing for Vermillion Energy, and has held senior marketing positions with other companies, including Norcen Energy and Pennzoil Canada.

[Papa Bear]

PTA Operations

Colombian Assets

Petroamerica has interests in 11 properties spread over 3 producing basins in Colombia, totaling over 1,978,000 gross acres (8,000 km2) and over 559,000 net acres (2,264 km2)

[Papa Bear]

PTA Operations

Corporate Strategy
Short Term

•Establish production through drilling - DONE

Long Term

•Maximize shareholder value with production growth through the drill bit.

[Papa Bear]

Why Petroamerica Oil Corp.

•Established a proven management team
•Extensive Colombian experience
•Technically accomplished
•Ability to attract experienced employees
•Ability to obtain good partners
•Developing new plays from a proven team
•Well financed with strong financial backers
•Petroamerica has established oil production, through the drill bit, within the first 5 months of operations

[Papa Bear]

About Petroamerica Oil Corp.

Petroamerica Oil Corp. is focused on light/medium oil in Colombia. The Company has assembled a large portfolio of prospective oil properties in several prolific basins, and is joint ventured on some of these properties with established producers in the country.

Trading initiated on TSX Venture Exchange under the symbol PTA on October 23, 2009. PTA announced first oil discovery, Balay-1, on March 11, 2010.



Why Colombia
•Competitive, flexible government take
•Sliding-scale royalties (8 to 25%)
•33% corporate tax rate
•Deductible local taxes
•No remittance taxes
•Long term stable contracts
•Standard and Poor’s credit rating BB+, Moody’s Ba1

[krashx6]

This one started showing up on my screener. Getting some volume today. Opinions?