PSA 0.00% 2.1¢ petsec energy limited

no confirmation but looks good..

  1. 1,317 Posts.
    If today's price movement indicates a successfull drill at West Cameron 352 #14 then the follow up well, 352 #15, is a virtual certainty. However price action in the absence of any announcements is a bit of a worry for the company one would have thought. Much prefer this sort of action to take place after the news is out. Looks like both wells could come into production in October and do two things, one add to reserves and extend the life of the West Cameron leases to at least four years and two, significantly add to PSA's already excellent net cash flow for the last quarter. Really does look good for the eventual full recovery and resurgence of Petsec.
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