Value Digger says:PTA's suitors are VETRA, PRE, AMER, PXT The "Top Idea" article about PTA was partly modified this morning. Value Digger added new substantial and factual information. According to his latest public comments, these are the potential suitors for PTA:
- VETRA, given it tried to acquire Suroco and its Quinde gushers at Suroriente Block but it failed. Now VETRA that produces approximately 16,000 bodp will try to acquire PTA.
Suroco also bought the PUT-7 Block recently, which borders the Suroriente Block and has the same potential.
- AMER.L (Amerisur) that has $1.1 Billion market cap on the London Stock Exchange while producing only 7,000 bodp. Amerisur will exploit its high price and pay with shares for this acquisition.
- PRE (Pacific Rubiales) because it wants to replace 60,000 bopd from the Rubiales field. Its contract from the Rubiales field expires in 2016 and Ecopetrol will take the field back.
Macquarie Securities says there is little incentive for Ecopetrol not to take those barrels from Pacific Rubiales. "With almost 100% certainty, Ecopetrol will take the 60,000 barrels that is now owned by Pacific Rubiales," they say.
- PXT (Parex).
According to Bloomberg, Parex Resources is focusing its growth efforts on Colombia and aims to double production in the next five years. Parex's CEO is planning more land and asset acquisitions to boost the company's output to as much as 50,000 bopd, according to a recent interview at Parex's headquarters in Calgary.
Parex's CEO believes that Colombia's stable government and well-understood oil resources make it a better investment than other countries in the region such as Argentina. As linked above, he also said: "To be relevant in the market, you really have to be in the range of 25,000 to 50,000 bopd. Parex's production will grow as much as 20% annually from 17,500 to 18,500 bopd this year".
See the modified article and his new comments at the SA link below:
The Modified "Top Idea" article about PTA from SA