PSA 0.00% 2.1¢ petsec energy limited

psa produces from 7 wells not three

  1. 1,317 Posts.
    Sorry grahamc58 but PSA actually produces from 7 wells not three. You missed the four wells at Ship Shoal in which PSA has a 7% ORRI. Revenue from this interest at around $200,000-$300,000 a month is not great in comparison to the cash flowing in from West Cameron I'll grant you but it still would pay a lot of admin bills.
    The other thing is if you don't think daytraders have an interest in this stock then why all the small trades. I know it doesn't compare to the likes of CVN or PCL which have gone for a run lately (and fallen back!) but with the wild swings in PSA's price there are some traders who think they can make money out of it.
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