RE:Go with the flow.Mouserman, you missed a great entry point the last few days and I doubt you'll get another chance like that to buy so cheaply. They are lots of new reserves at Putumayo to offset declines at LM. The volume the last few days was high. Seller puked it out at the lows at less than 1X cash flow and the stock is now headed higher.
Still worrying about the 35 mil Canadian notes which are now ony 28 mil due to the weak dollar? They have 60 mil in cash and 60 mil cash flow and willl probably refi that at a much lower interest rate as they have discussed before. The cash flow is literally more than 20X the interest coverage. I just did an article on the FXEN preferred stock today. That's an underleveraged company and the leverage is far higher than PTA. With all due respect, have you read many balance sheets? Do you really think PTA has a debt problem? Get real!
Here's my FXENP (great day for the FXEN common and preferred) article. I trade high yield issues and spend a lot of time looking at leveraged comapnies. PTA is not one of them. The company has cash flow to cover the interst more than 20:1 and net cash on the balance sheet. It's got a better balance sheet than about 95% of the oil companies I look at.
https://seekingalpha.com/article/2922986-a-polish-natural-gas-producer-with-a-safe-11_7-percent-yield-fx-energy-preferred-stock