PSA 0.00% 2.1¢ petsec energy limited

Question for Yogi

  1. 1,317 Posts.
    Yogi thanks for the explanation on well bore size. Can you tell me what factors influence the operator in determining which size hole to drill given that a bigger well bore presumably is more expensive? One more thing if I may. I am trying to put some value on Petsec's finds at West Cameron and Ship Shoal. The reserves at West Cameron (as elsewhere) are measured in cubic feet of gas but prices seem to be set in dollars per MMbtu. So how does a price per British thermal unit translate into a price for one thousand cubic feet of gas. If the price per thousand was $US 4 (which I seem to recall seeing somewhere)then the value per bcf would be $4 million. If Petsec has exploitable reserves at West Cameron of say 20bcf that would translate to a value of $US80 million or some $A150 million. Let say PSA has half of that (haven't done the figures yet) giving them $75 million or three times the present market cap. These figure are may be wildly astray but if you or someone rlse out there can tell me what price producers in the Gulf are selling gas at per 1000 cf I'll do some serious calculating. Many thanks in advance. PS Yogi I am still having trouble posting to the Yahoo Aussie Oiler board but I'll keep trying. JBC
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