RE: Las Maraccas Agree with the 1850 bopd up to LM3. Bang on my numbers.
I found Parex's comments on LM4 cryptic. Another 1000 or so there would be a beautiful thing.
I find it frustrating that we have not received any updates on LM2. The Company has indicated they could probably double production from that well in due course...from 1000 bopd to 1500-2000 bopd. What they have not provided is a timetable in which this can be achieved.
70k per barrel is a little steep if we look into next year if valuations don't improve. 2013 estimates for the International E&P group are about 55k per barrel on a EV basis, with a wide variation. PXT is 31k per barrel based on their 2013 estimated production. But either way the point is made-PTA is undervalued no matter which way you look at it. The discount to NAV has to close or this will be a takeout very soon. We do not want this in this environment, or the assets will be sold for a song, aka PMD.