Financial Results The Financial Results look good. I am a Commercial Banker with one of the large Canadian Banks with 10 years of lending experience. I have been living in Alberta for the last 7 years. I know that I would look at the financial statements differently than the Stock Market. As a lender, I focus on cash flow as it pays back loans. This is relevent as PTA has a $32 Million Note Payable to pay back. This was the debenture issued in April 2012.
A couple things that I noted:
#1. Statement of Cash Flows: Net Loss substantially reduced from $(9,754K) Sept 30th, 2011 to $(4,865K) Sept 30th 2012. Should be
#2. Cash position has improved from $18,074K in September 2011 to $32,797 in September 2012. This should help with capital and production costs going forward. It should also help to prevent further share issuances or share dilutions.
#3. Cash burn or operating costs are now being supported by two producing fields. Balay and Las Maracas. I believe in a couple of quarters, PTA will generate positive Net Income.
#4. Oil Revenue substantially increased from $5,038K Sept 30th, 2011 to $15,459K Sept 30th, 2012. This is even more noticeable with the Quarter over Quarter comparision: $2.506K Sept 2011 to $9,197K Sept 2012. This would not include revenues generated from LM-5, LM-6 (potential), Balay 4 (potential), La-Casona. I have not factored in the other wells to be drilled.
Couple of thoughts and observations.
I am debating on going to the AGM since I live in Airdrie.
PS: Winter, the rest of the board is right, calm down with your cheerleading. We all want the company to do well because we will make money. If you are going to post, put some thought into it and add value instead of meaningless dribble.
PPS: Shlinker: You need to calm down with your Debbie-Down Syndrome. I think your negativity is not substantiated. This is coming from a guy that on paper had lost 90% in value with PTA. PTA is a long term hold. Thats why I own the PTA.WT.B warrants.