PSA 0.00% 2.1¢ petsec energy limited

west cameron for were

  1. 1,317 Posts.
    Hi Were,

    Thanks your contribution to the junior oilers thread. I agree with you on the stocks likely to be winners in the next twelve months. Also can empathise with your earlier comments about bad experience with the smaller counters last year. I for one will be much more careful about trading nwe, cvn, pcl etc this coming year.

    On West Cameron, Fern said in his AGM address that the drilling would be in July/August so assuming that planning is running behind schedule as it always seems to do for the oilers, I used August as the more likely spud date. I rang the company last week but Fulcher didn't know what the current situation was. Said if there was any hold up probably had to do with permitting. But he was only guessing.
    The two prospects to be drilled were identified by the 3 D that identified the prospects now in production. You would have to think that the probability of success is high given the lease has already yielded 130 bcf of gas and the 3D has already proved its worth on the first three wells. And they will now have extra info on the geology from those wells. They will drll one well and only drill the second if the first is a hit. Cheers, JBC
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