Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PETROAMERICA OIL CORP. We currently have 8 research reports from 1 professional analysts.
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PETROAMERICA OIL CORP
PETROAMERICA OIL CORP
PETROAMERICA OIL CORP. (PTA) ANNOUNCES 3Q15 RESULTS
27 Nov 15
Market Impact: Neutral. Petroamerica reported 3Q15 production of 3,655 bbl/d (FCC 3,250 bbl/d) and cash flow of US$3.5 mm (FCC US$0.7 mm). Production in 4Q15e of 2,912 bbl/d is tracking in line with our estimate of 2,950 bbl/d. While the 3Q15 results were better than expected, 3Q15 results are secondary to the arrangement agreement with Gran Tierra that is expected to close around the end of January 2016e.
Petroamerica Oil Corp. Announces Acquisition by Gran Tierra Energy
13 Nov 15
Petroamerica has entered into an agreement with Gran Tierra Energy (GTE – TSX), in which Gran Tierra will acquire all of its outstanding common shares of Petroamerica for total net consideration of approximately US$85 mm. As per the terms of the agreement, Petroamerica shareholders can elect to receive either 0.4 of a Gran Tierra share for each Petroamerica share held or C$1.32 per share in cash. This acquisition price represents a 43% premium to Thursday’s closing price of $0.92 per share. We assume that Petroamerica shareholders will elect to receive shares, thereby continuing to benefit from the upside potential of the combined entity. We recommend that Petroamerica shareholders vote in favour of the deal and tender their shares. The acquisition is expected to close at the end of January 2016e.
PETROAMERICA OIL CORP. (PTA) ANNOUNCES PRIVATE PLACEMENT OF UP TO US$20 MM SENIOR SECURED DEBENTURES
28 Oct 15
Market Impact: Negative. Petroamerica has entered into a private placement agreement to issue up to US$20 mm in senior secured debentures. The proceeds will be used to appraise and develop the Cumplidor Field on the PUT-7 Block (50% WI) and to reactivate development activity in the fields located on the Suroriente Block (15.8% WI). If the entire US$20 mm in senior secured debentures are issued, the financing is 46% dilutive to our current 2016e cash flow estimate to approximately US$3 mm (previously US$6 mm). Our dilution estimate does not include (1) the potential for cash flow growth from the appraisal and development activity on the Cumplidor Field and Suroriente Fields or (2) the potential dilution for the issuance of up to 6 mm warrants, versus the current basic share count of 58 mm shares.
PETROAMERICA OIL CORP. (PTA) REPORTS 2Q15 RESULTS AND PROVIDES 2H15 GUIDANCE
25 Aug 15
Market Impact: Negative. Petroamerica reported 2Q15 production of 3,634 bbl/d and cash flow of US$3.0 mm (US$0.03 per share), which was below expectations. Also, 2H15 production guidance is well below our production outlook, and as such, we will be reducing our go-forward production outlook. Offsetting the reduced production profile is also a substantial reduction in 2015e capital spending.
Petroamerica Oil Corp. Acquires PetroNova Energy in an All-Share Transaction
16 Jun 15
Petroamerica has agreed to acquire PetroNova Energy (PTA – TSX-V) in an all-share transaction that has been valued at approximately C$29 mm (US$23 mm). Petroamerica will issue 216 mm shares and assume C$1.6 mm of net debt. The acquisition is expected to close near the end of July 2015e, at which point Petroamerica will have approximately 1.1 billion shares outstanding. The Company plans to consolidate its shares on a 10:1 basis following the close of the acquisition.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
19 Jan 17
Aggregated Micro Power* (AMPH): Funding for first peaking power plant project (CORP) | The Mission Marketing Group* (TMMG): Positive trading update (CORP) | Cello (CLL): Increasingly backed by, and leveraging, technology (BUY) | 4imprint (FOUR): Growth backed by strong cash flow continues (BUY) | Allergy Therapeutics (AGY): Positive trading update and market share gains drive upgrades (BUY) | Shanta Gold (SHG): Q4 operating results (BUY) | Sound Energy (SOU): Tendrara extended well test result (BUY) | Revolution Bars (RBG): Price target increase (BUY)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.