Hedgie: Don't hold your breath waiting for refi scareHedgie, Petroamerica is an underleveraged company with great cash flow. Just about any major bank would be delighted to have them as a customer. They have 64 mil in cash and 32 mil in debt. Even by the company's overly conservative projections, cash is going to remain flat to higher. This is a company that's going to exit the year with a cash flow run rate of close to 150 mil. Even with their aggressive drilling program, PTA is a cash cow. They will refinance the bonds with a more flexible standard bank credit line at much lower rates. They gave bond buyers 20 cent warrants, but that was back when PTA was a struggling startup. No such incentives will be needed this time around as management has made clear with past statements.