RE: RE: RE: The Big Answer:You're right, $20M is the gross well cost. PTA owns 25%, and I believe they have to cover a slightly higher percentage of the costs as part of the farm-in.
Like most others here, I am holding PTA at a significant loss. This company, like many others in the central/south american junior space, has had little luck and even less competence.
I have no idea what their plans are for this cash, but I think at these levels, the upside to the SP is greater than the downside. Worst case someone comes in and sccops up the assets in the same way they did for PDP.
Their main asset, IMO, is Balay. In my latest call to IR, they mentioned they are finalizing the sales terms for oil prod from Balay. I hope to hell they have been getting paid for their existing production (1 + yr of it), but they have avoided answering that questions when I asked it.
I'll cross my fingers and hope for luck, because I can't stomach selling at this level. The real question is, will they turn things around before the market takes a dive?