LOL at the bashingEvery other day they are saying 'pumpers gone'. Guess what folks? They don't bash the stocks they don't want.
Will PTA close the year with 10 cents in earnings per share? Almost certainly. They had 8c in the first 3 quarters, 3c in the last quarter, and they already told us that production for the month of October had jumped to 6312 bpd.
So yeah, 10 cents of EARNINGS on each 33 cent share. Name me another Columbian junior, or even a major that has a P/E of 3.3 for 2013. Heck, look all around the world and see if you can find one doing better than this.
Yes, the big cash pile. Should be over $80 million now. Oh what a bad problem to have! Must be awful to be able to self fund your drilling from profits, instead of having to borrow it!
And the growing production. Another huge problem. Gee, PTA guided for 5000 bpd in 2013, but it looks to me like they are about to exit 2013 at close to 7000 bpd.
Want to talk price to cash flow? Hmmm, $35M CF in Q3, looks like 2014 might be in the $140M+ range. Peter Imhof made CNE his top pick on BNN today and was jazzed that they had a P/CF multiple of just under 11. Hey Peter, I know you took a question about PTA today and said you liked it. Maybe you should take a closer look at it. How about a P/CF multiple of well under 2 !!!
Want to talk NAV? I calculate it at $1.98/sh. With a 33 cent stock, that is 500% upside potential.
Back to Peter's 'top pick', CNE. Are they approaching 10,000 boe/d? Hmmm, PTA is approaching 7000 bpd. Well I guess CNE looks better, oh wait, their market cap is 2.5X larger? Oh, well then, maybe not... But CNE also has earnings right? Yep, they also earned 3 cents per share last quarter. Well, that looks good right? ... except... CNE shares trade at $6.44 each right now vs 33 cents each for PTA - so.... maybe not so good after all.
Ah well, Peter can keep pumping his stock - until he decides to ( _____ it and) dump out - or whatever. Personally, I'll stick with the one that seems to be about to bump guidance by 40%, has a self funded drill program, and most importantly, has fantastic earnings.
Hey, if you want me to pump this baby daily, just let me know. :)