PSA 0.00% 2.1¢ petsec energy limited

half year numbers are out

  1. 3,353 Posts.
    .........and not looking too bad either.

    If 6mths EPS was 15 cps, then assuming even a fair 10cps for second half, then that would be 25cps and your PE would be 3!!

    And they say cash in bank is $14M, but they also have receivables (ie June sales) of $6M, so in reality they have $19M, which is roughly 18cps cash backing, and growing.

    Those are pretty rosy fundamentals. Sure, I would like to see them add to their reserves, but they have 24 mths to do from current production, which will also mean a lot of cash along the way.

    Also they seem to be signalling that 'we have learnt from our past and we are not going to blow all the money' along the way.

    You could a whole lot worse than PSA, esp if we get another winter gas spike in prices at Christmas time.
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