We report observations of a possible young transiting planet orbiting a
previously known weak-lined T-Tauri star in the 7-10 Myr old Orion-OB1a/25-Ori
region. The candidate was found as part of the Palomar Transient Factory (PTF)
Orion project. It has a photometric transit period of 0.448413 +- 0.000040
days, and appears in both 2009 and 2010 PTF data. Follow-up low-precision
radial velocity (RV) observations and adaptive optics imaging suggest that the
star is not an eclipsing binary, and that it is unlikely that a background
source is blended with the target and mimicking the observed transit. RV
observations with the Hobby-Eberly and Keck telescopes yield an RV that has the
same period as the photometric event, but is offset in phase from the transit
center by approximately -0.22 periods. The amplitude (half range) of the RV
variations is 2.4 km/s and is comparable with the expected RV amplitude that
stellar spots could induce. The RV curve is likely dominated by stellar spot
modulation and provides an upper limit to the projected companion mass of M_p
sin i_orb < 4.8 +- 1.2 M_Jup; when combined with the orbital inclination, i
orb, of the candidate planet from modeling of the transit light curve, we find
an upper limit on the mass of the planetary candidate of M_p < 5.5 +- 1.4
M_Jup. This limit implies that the planet is orbiting close to, if not inside,
its Roche limiting orbital radius, so that it may be undergoing active mass
loss and evaporation.Comment: Corrected typos, minor clarifications; minor updates/corrections to
affiliations and bibliography. 35 pages, 10 figures, 3 tables. Accepted to
Ap