Market Impact: Neutral. With quarterly results broadly in line with our forecast, we highlight that April production is 4,064 bbl/d. This is above our forecast for 2Q15e of 3,813 bbl/d, yet still a decline from 1Q15. With declining production and little visibility for 2H15 capital spending and outlook, we remain cautious on an investment in Petroamerica.
15 May 2015
PETROAMERICA OIL CORP. (PTA) ANNOUNCES 1Q15 RESULTS
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PETROAMERICA OIL CORP. (PTA) ANNOUNCES 1Q15 RESULTS
Market Impact: Neutral. With quarterly results broadly in line with our forecast, we highlight that April production is 4,064 bbl/d. This is above our forecast for 2Q15e of 3,813 bbl/d, yet still a decline from 1Q15. With declining production and little visibility for 2H15 capital spending and outlook, we remain cautious on an investment in Petroamerica.