PSA 0.00% 2.1¢ petsec energy limited

entry price???, page-12

  1. 6,951 Posts.
    lightbulb Created with Sketch. 1
    The price is due to fall back . As far as the management is concerned it may be an idea to check out NVS as some of the EX PSA Management seem to have gone there, and they may have been good people.
    The China deal was handed to them on a plate by ROC if I remember correct , it was Not self Generated.
    As far as Value is concerned this may be transitory.The Gas prices , for example are quite high at present and they could fall substantially once the 'Iraq Risk ' is removed , and the reserves are not very large.
    Their Cash Burn rate is also very worrying , have a look at this over the last 12 months , it looks very high to me.
    This is a worry as their reserves will not last long and they may go on a spending spree, they look to me as if they know how to spend.

    The depth of the company does not look as good as CUE.
    I would be a seller, the spike price has rolled over and real smart dealers have already sold, from and including 31 January when there was a high price and a High volume and a nasty looking candelstick on the charts . The next load of sellers continued yeaterday 3 February , so watch out there is a Taxidermist about is my view.
 
watchlist Created with Sketch. Add PSA (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.