Am I missing something? In the corporate presentation the company states they have 35 million of 11.5% notes that come due Apr 2015. Seems to me that is being left out of the conversation in calculation of EV. Unless they refinance the debt (which I'd suspect will be more difficult with the recent drop in oil prices) this is going to cut their cash on hand better than half.
What do you make of the low insider ownership percentage?
thanks for the tip on PTA. I bought some at C$.285/US$.253. I like the Brent pricing, Colombian location and movement to operator. I have fond memories of the Llanos basin from my early days with Petrobank.
Fundamentals look very good. Sold some stocks that have upside down the road IF things work out for a solid producer with increasing production and cashflow and dirt cheap valuation now.
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