RE: RE: RE: Re:Re:What test??? Hard to count on cash flow from wells that are shut in, and one which has a vague resumption date at best.
Current cash flow is ZERO. Cash on hand will fund 1.5-2 wells without overages.
PTA's Las Maraccas is still awaiting LT prod testing permits. The discovery was made end of Aug last year. For those of you with mathematical challenges, that's 6 months and counting.
Sold 3/4 of my position for 2 reasons:
- Management estimates are out to lunch, and devoid of information. (How about some numbers on Mani's reservoir?)
- They will likely need money in the next 6 months.
I still think they have the potential to be worth 0.15/sh +/- in a company sale, but not if the sale is pressured by lack of funds. May buy back in when they are closer to spudding Flami well, much nicer closure on on that one.