I'm just going over some of the news releases and presentations to get a handle on where PTA is stitting. One thig that caught my eye was the expected flow rate for LM5 was 1,500 bopd. That's right - they only thought they'd get 1,500 bopd from it (or 750 net to them). Now that the results are in, and this well is pumping 3,700 what does that mean? They're getting well over double the expected flow - and that flow is NATURAL. No ESP involved here, so yes, as someone mentioned, this is indeed a gusher. Further to that, the Gacheta formation wasn't even the main target of LM5 - they wanted to hit the oh-so-popular Mirador. Gacheta looked like an after thought. And on top of that is the potential for more in the lower Gacheta.

I don't really know what all this adds up to. Is the Gacheta resevoir really that good? Have they, up until LM5, only been testing the periphery of the Gacheta and now they've managed to tap it in just the right spot? What does this mean for LM6? I think they were considering LM6 as a water disposal well if it didn't hit.

I understand they were, or are, evaluating the reserve potential for Los Ocarros, but I wonder if it will have to be re-done given the ssuccess of LM5.

PTA has smashed its expected exit rate of 2,700 bopd. They are pumping 4,500 now (or at least will be once the storage/transportation issue gets resolved), and they haven't even considered Casona, LM6 or the other exploration wells that are expected to be drilled by year end.


This stock is positioned to explode, so long as momentum is maintained. If LM6 is as good - heck, even half as good, as LM5, PTA will be pumping anywhere from 5000 to 6000+ bopd by the end of the year. That is close to $500,000 in netback revenue per day.


Toss in a good reserve report, and I think we'll be sitting pretty in the new year.