Buying Opportunity Thank you for your comments Coastline and Hockeylad. I decided to buy some more PTA.WT.B warrants based on the Corporate Presentation. I sold some Royal Bank shares to buy the warrants. I think there is a buying opportunity when the warrrants are selling for 0.075 and 0.08 cents, especially considering the warrants are still in the money (relatively speaking) at $0.35 sp.
Assuming 13 wells being drilled with a % of success at 57% (per presentation) lets say there are 7 wells that are successful. Again assuming a 1,200 bopd production with a 45% working interest (averaging between the JV's on LM and EL Porton etc..) that would work out to another 3,780 bopd net to PTA by the end of December.
This would be approximately 8,280 bopd exit for 2013 and fits within PTA's goal of 7,500 to 10,000 bopd within the next 12-18 months. I could keep making more calculations, but I think this is a fair based on the information provided.