RE:Reverse splitThey will never do a reverse split in this weakened position. You need to do it from a position of strength and we certainly know that is not now. It is something that needs to be done but dropping from $.41 to $.12 takes it off the table.
Lots of speculation as to what is happening this month. They need to present their Q1 2015 numbers first and once that is out of the way, it should get very interesting.
I am sure a lot of the big shareholders are pressing the management to pursue a merger. The company has plenty of promising blocks but they don't have the capital or operatorship to do anything. Something has to give here. We have dropped from 6,500+ BOEPD to 4,200 BOEPD.
I suspect the relationship with Vetra is toxic and Vetra is punishing Petroamerica for scooping Suroco.......not a good situation. Also Parex seems to have put Petroamerica on the back burner in all it's JV projects..........also not a good situation.