The CATALYSTS, the Funds/Institutions & the KEY $1 ThresholdNow that the key PNA deal closed, PTA's Catalysts are many and can be announced at any time. Check out some of these catalysts:
- Announcement of a Reserves- Based Credit Facility now that the PNA deal closed and PTA's 2P Reserves increased by approximately 80% and reached 14.5 MMbbls (100% oil).
- Farm-Out for the PUT-2 Block where PTA has 100% WI and the OPERATORSHIP.
- Announcements about PTA's Tinigua Block where PTA is carried by PRE for 4 wells and has the OPERATORSHIP.
- Announcement about PTA's PUT-7 Block where Santa Maria project (the extension of the proven and producing Quinde oilfield) is and PTA has the OPERATORSHIP.
- News about the Quinde-3 well.
- News about the Langur-2 well.
- Farm-out for the El Porton Block.
-------------------------------------------------------------------------------------------------------------------------
Another key Catalyst is the $1 threshold.
Those smart a$$e$ (i.e. MOUSERMAN alias) who were waiting to buy AFTER the reverse split because they expected the pps to DROP, they have been grossly disappointed lately because the stock has NOT dropped pro forma the reverse split.
So keep in mind that PTA will attract funds and institutions once the pps closes higher than $1. The funds will place their bets for the next energy cycle. But the funds will NOT buy XCO, MHR, SD, HK, GDP, XCO, EOX, LEI, ZAZA, SFY CRK etc. and the other heavily indebted companies to play the upcoming rise in oil prices. These companies will go broke by year end. Spend one minute to see their balance sheets.
In contrast, PTA has one of the best balance sheets in town. PTA has a STELLAR and DEBT-FREE balance sheet with US$20 Million IN CASH pro forma the deal with PNA (according to the company's latest statement).
And as you know, the $1 price is the KEY threshold price for the penny stocks. So the earlier you jump aboard, the lower price you will pay. Once the funds start buying at prices higher than $1, we will most likely see some steep increases in the share price.