RE:RE:RE:RE:Oct 1stWell, let me defend PNA also. Petronova is essentially debt free. They did require an equity raise, but to say they nearly went bankrupt is quite a stretch. Unlike PNA (which only produced about 300 boepd), PTA is fully funded. PTA is what's known as a "cash cow". Hedgie, you are barking up the wrong tree trying to suggest that PTA is overleveraged. The company has more cash than debt and a cash flow run rate of close to 150 mil pays for a lot of wells. Funny, but just a few months back some folks here were complaining that the company had too much cash and wasn't putting enough of it to work - LOL.
Oh and since you mentioned PNA, perhaps down the line I think they'd make a nice merger partner for PTA once we're done digesting Suroco. PNA has leases that would be of interest to PTA and acquiring operatorship is the easiest way to get it.