agm, page-14

re: agm..... lousy april/may/jocam Hi Llew,

Bit difficult to say where it will go in the short term. Hopefully in a week or two the company will announce that all three wells are back in production following the recent completions on two of them. The publicity should give the shares a kick along. The AGM itself just reinforced for me PSA's potential but it will depend on further drilling success at West Cameron and Vermilion. The seismic on both targets have given the sort of results PSA would have expected if gas were present. The attempt to knock the price down on Tuesday after the AGM failed so I am not sure about likely weakness ahead. An analyst or two and maybe a few industry journalists were at the meeting and they could/should have come away with positive impressions. If they write up the company's potential we could even see some upside before the week is out. I though I might lighten up last Tuesday and buy back in but that didn't work so I am holding on to mine.