RE:June 2015: Debt free PTA with US$35M Cash+US$11M Restricted
1. I always said the block expired in 2023 as that's been in the AIF's. It's you whom obfuscated the dates and tried to make things up other than what's on public record. It's on this forum for anyone who cares to go see, you can't lie about that.
2. I've only ever said CF corporately would be negative - ie they were spending more than CFFO. You use the two interchangeably to suit your agruments and mislead. The production has always made some cash flow, it's that they don't control reinvestment, and they certainly don't control overhead costs.
3. How do you or anyone know drilling will increase in Q3? They don't operate, so they can't make it so.
Q1's will show us the true numbers anyway, and just like your smokescreen ranting before year ends, the truth comes out on points you vehemently argued in plain factual disclosure.
Nodbody believes you anyway; share price chart shows who's more right.
What investors want to see is:
- production per share growth
- cash flow per share growth
- reserves per share growth
- achieved on a cost effective basis.
Your arguments on debt free with cash are pointless until PTA shows the ability to achieve progress on those. Thus far PTA has shown that it has a negative trend on all of those unfortunately, as shares have grown, and production and cash flow have sunk, and reserves have sunk since the acquisition and continue to do so.
Someone said earlier they aren't E'ing and P'ing enough which is true. The international E&P business is tough.
I'd like to see management do the following, in the absence of doing a deal with Vetra, whom my market intelligence says is their only real hope.
- cut costs drastically an inline with best practice in the E&P business.
- use the remaining cash to buy stable, operated production somewhere in an attempt to then qualify as a real Colombian operator.