PSA 0.00% 2.1¢ petsec energy limited

Another gas strike

  1. 1,317 Posts.
    PSA's second West Cameron well has struck gas making the score two out of two so far from this production platform. Now they are going to drill a third well West Cameron 18 which had not been foreshadowed as far as I can tell.
    PSA will have 4 gas producers (possibly a fifth in WC 18) as they head into the northern winter traditionally a period of higher gas prices. They have no development or production costs at Ship Shoal just a healthy 7% ORRI and at West Cameron they already have production facilities in place. Indeed they are drilling from a production platform! If PSA weren't so miserly with the information they release to the public shares would have taken off. So good buying at these levels IMHO. JBC
 
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