Assummig PSA is still producing gas from West Cameron and Ship Shoal at 19.5 mmcf a day net to PSA, and a gas price net to PSA of around $A11.50 per mcf, net revenues for this week alone should be around $A1.5 million. PSA will present its annual report on or around 14 March when it should hopefully reveal exactly how much money it is now pulling in from those producing wells. Later inthe month expect PSA also to announce results of its bids for more GOM leases at the 19 March MMS auction. Given good cash flow, PSA's extensive knowledge of the Gulf and the reluctance of other producers to commit big sums to new ventures because of current political and economic uncertainty, PSA shold be able to pick up some useful new prospects, hopefully more like West Cameron.
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
