RE:RE:Great News! Share buy back
The most telling part is where they talk about expansion and growth even with Brent at $55.....
"Petroamerica's Board of Directors believes, from time to time, the market price of the Common Shares may not reflect their underlying value. Petroamerica's cash flow capability and balance sheet provide the opportunity to capitalize on the current valuation of Petroamerica in the market which, in the Board's opinion, significantly discounts the value and potential of the Company's asset base. The Company's cash on hand as well as cash from operations will fund the NCIB program, and continue to support Petroamerica's expansion and growth opportunities."
Once PTA pays the notes in April according to the latest corporate news, it will have about US$25 million in CASH and Zero Long Term Debt. Add on that the existing Positive CF although BRENT is at $55/bbl ! The Positive CF and the cash on hand will fund the buyback.