Go with the flow.As the price of crude oil goes, so to will the stock prices of many juniors. Altho i note that many have made 50 or 100% rebounds , and PTA has tanked further since oil made the rebound back to the mid 50's range. Where the breakeven point for PTA is up for debate. They have no hedging in place to protect the downside ( brainfart from management) and a few misses in the drilling has to go against the bottom line . Their cost per barrel on production is another statistic.
The reserves are going to dwindle with a cutback in capex.
I did like the big volume at the bottom recently and perhaps that was some capitulation.
I suspect oil will be stuck in this 40 to 60$ range for some time to come.
By the way in that lst Q report current liabilities wer 72.9 MILLION US $$. Some of that is income tax , but 30 million US$ was listed as the notes payable in April with 11.5% annual interest paid quarterly. That is so more cash drain. Hope PTA is working on a better financing deal.
Still on the sidelines...