PSA 0.00% 2.1¢ petsec energy limited

ship starting to steady...

  1. 1,317 Posts.
    Nice finish today at 70 cents and good strength on the bid side. At 70 cents PSA is just 12 cents below where it was before the run up to 94 cents last Friday. And I am beginning to think that that little exercise was deliberately orchestrated by people who knew the well was a duster on Friday and wanted to get out at a good price. So yes OMR I am starting to believe in conspiracy theories!!. They make playing the market just that much harder.
    I think with good profit announcement out today or tommorrow and hopefully a good result from West Cameron#15, PSA will soon be back over 80 cents and what happened earlier this week will just be a dim bad memory.
    Nice movement in Carnarvon today but you would have to have been a day trader to get on unless you held some from the last flurry of interest in this one. no news from the company to justify the new found confidence. There was some indication yesterday that the stock was about to take off when it rose above three cents on good volume. I'm not on board but good luck to those who are. I got badly burnt last time.
    Pan Continental was another to move up today but again nothing in the market place to suggest why apart from the ongoing speculation that Woodside will farm in to its Kenyan leases.
    Even Drillsearch barked a bit today. Still think it is a bit of a dog but even dogs can have their day in the sun.
    All in all it is nice to see the interest returning to the sector. Long may it continue.
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