PNA's 2P Reserves BOOST PTA's 2P and RLI !!This great deal at this discounted price because of PNA's LIQUIDITY Problems (no bank line in place, negative CF and declining cash) has these key key features:
PNA is DEBT-FREE
PNA gives PTA Operatorship !
PNA brings 6.3 MMbbls (100% OIL) 2P Reserves !!! This is huge !! Given that PTA currently has 8.1 MMbboe of 2P reserves, PTA increases its 2P Reserves by 80%!!! In addition, this deal almost DOUBLES PTA RLI to almost 8 years!!