PSA 0.00% 5.5¢ petsec energy limited

gas prices stay very strong

  1. 1,317 Posts.
    Nymex Henry Hub closed again at above $5.70 which is very strong for this time of the year. PSA thought they would be sub $4.50 by now and hedged a small proportion of their production (5 mmcf) at $4.87 from 1 May through to October. If prices stay at current levels through May that's another two months (April/May) of very substantial revenues even allowing for some down time to put new reservoirs on tap. June quarter revenues may not equal March quarter figures of $17 million but should get pretty close, say $15 million, when you consider that Q1 revenues represented only 9 weeks. production. The cash just keeps rolling in.
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