RE:Value Digger says:PTA's suitors are VETRA, PRE, AMER, PXT I think Petroamerica is more likely to make another acquistion rather than to be acquired. The management discussion says they are still looking for opportunities. Their stock price is up. They have 65 mil in cash and very strong cash flow The market responded well to the Suroco deal. We know how aggressive management is. Buying companies is still cheaper than farm-in deal in many cases.
Check out Petronova. PNA needs cash (even with recent private placement). They have blocks in the same regions as PTA. Alenter was a big Suroco holder and just participated in the PNA private placement. PTA and PNA share the PUT-2 block. PNA has some nice leases and we know from recent Suroco wells (being drilled by Vetra) that there is loads of oil in that area.
A former Suroco Director just joined the PNA board. A lot of connections are there.