PSA 0.00% 2.1¢ petsec energy limited

$18mil profit for half year

  1. 8,137 Posts.
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    This stock will report in early Sept a profit of $18mil+(before tax,but with no tax to pay) for the half year to 30Jun03 and should earn $22mil in the second half.
    They are drilling two wells this month at West Cameron in the Gulf of Mexico-the first of which will spud within a week-they have a 100% success rate with these wells so far and these wells have the potential to double their reserves.
    Plenty of news forthcoming over the next month to push this stock towards a dollar.
    There are less than 110mil shares/options issued so it has a market cap of less than $85mil-not bad for a company that will earn $40mil this calendar year.
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