January 25, 2010

Winstons Growth Stock Report Features Petroamerica Oil Corp.

Petroamerica Oil Corp. (PTA, TSX)

Today Raymond James Equity Research has given PTA a price target of $1. The stock is currently trading at 66 cents.

Their report reiterates what I’ve already stated in Issue 02, PTA has an exceptionally strong and well connected management team who are more than capable of building a strong producing oil company in Colombia.

“In addition to what we view as an excellent management team, PetroAmerica offers investors exposure to 10 blocks in various proven petroleum provinces in Colombia. With an estimated $37 million in working capital at the end of 2009, we believe PetroAmerica is well funded to undertake its current exploration program.”

My expectation is that over the next 24 months PTA will put at least one drill hole in each of their 10 blocks of oil prospects.

As I stated three weeks ago, oil plays can fly high or fall hard based on drilling results. Taking a small position now would be more prudent then jumping in with both feet. Averaging up with future positions based on positive results in the field is a safer way to play this speculation.

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