anbca - were at about 4200 BOED now  -Net , light oil producer, Brent pricing now about 8-10 beod ...the o/s shares  become less of an issue for sure . your right . at 20k boed its a non starter really and PTA becomes a 'buy back mode ' oil producer .  with the land holdings of PTA right now . 10 -15 k boed is well within reach of PTA in 2013 .... tell me what oil company plans to triple their production in 2013 ??? only a hand full , PTA is one of them . 

we just have to avoid getting eating up by a big fish in any M&a activity ...... PTA has respect on the street  due to its management and land holdings .... a good combination.