RE: C.C was exactly what was neededI agree that PTA is a world of difference from ALE, and certainly I hope for the best out of PTA as I still hold chunk of it. I also agree that the holding of this C.C was a good idea, I just wish they had been more forthcoming with specific information. I hope you are right about the transparency and clarity, but it wasn't evidenced at this C.C.
The "appointment" of Mr. Pantin is nothing spectacular. I agree he is one of the driving forces at PRE, but his benefits to PTA will not be any more beneficial than they were last week. The rest of the argument about Pantin is moot ... you could have said the same thing about Giusti and ALE.
How exactly have they strengthened their relationship with PRE? Are you saying that now that Pantin is a director PRE will all of a sudden open up to all sorts of opportunities? I fail to see how this "appointment" changes anything. More likely it helps to overshadow the CEO resignation. On the flip side, I have a sneaking suspicion that ALE's 6 blocks in ANH 2010 may be passed off (farmed off) to PRE who will then farm them off to the likes of PTA, PDQ, ETC. Just a guess.
Yes, PTA must "continue" to grow it's production numbers. That isn't good news until it happens. And they are far from making it happen, and certainly their plans to do so are rather unformulated.
Navarette seems like a solid addition, no arguments there.
Balays .... not bad news, but I fail to see how it is good news. Further delays, Balay-1 shut in for re-pressurising, and they are having difficulty setting a fire under the azzes of the Petrobras fellows.
The real news will be when they clarify their 2011 plans, the rest was politicking. Hope and change.