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PSA 17.5¢

drilled into fort knox

  1. jocam9

    1,317 Posts.

    Petsec Energy announced today that production had started at its West Cameron gas field in the Gulf of Mexico at a rate of 18 mmcf a day. (AYO currently producing at 13 mmcf a day) Henry Hub prices are currently well above $US5 a thousand cf. Production and transport costs are 60 cents US per thousand cf. Lets say revenues are $4.50 per thou net of production and transport. Thats $US 85,000 a day for the jv, $US 595,000 a week and $US 30.9 million a year !!!!!!! If PSA gets say 50% (it interest is larger than that) then it has a revenue stream from West Cameron alone of $US 15 million a year. Will someone tell me that this can't be. I must be dreaming. JBC

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