Petroamerica Oil Corp's recent pullback is the entry opportunity that investors have been waiting for - the next leg higher will likely bring PTA shares above .60:

Let's go to the charts:

PTA_daily

PTA.V_Weekly

The fundamental story speaks for itself. PTA is currently producing over 4500 bopd with netbacks over $70 per barrel, meaning the company is trading at less than 2x cash flow currently.

This quarter PTA will finish construction on a permanent production facility at the Las Maracas oil field which has the potential to flow 7500 bopd net to PTA.

Las Maracas is just one of three Colombian oil discoveries the company is currently developing. Read our coverage of PTA going back to August, 2012 here: https://blog.ceo.ca/tag/petroamerica

The charts say to buy here. Above .40 the rising channel indicates a target above .60 but I will simply state that above .36 it's going to .50+.  If it falls below .25 then we can bring out the bottle of Tums....lol

PTA currently offers investors a highly attractive risk/reward proposition to participate in the Colombian oil renaissance.

 

Disclaimer: We own Petroamerica Oil Corp. shares and reserve the right to sell them at any time without notice. This is not investment advice. Always do your own due diligence and talk to a licensed investment advisor before buying or selling any security (We are not investment advisors). Also, Petroamerica's 2013 production guidance is forward looking and unrisked. Please see Petroamerica's disclaimer. All facts to be verified by the reader. These are opinions, not advice. We seek safe harbour.