Sure PSA has dissapointed on fundamentals, delays, production and reserve downgrades etc, but then what oiler hasn't - not many - even the mighty Woodside, and certainly not STO.
Most juniors and midcaps struggling to grow reserves, to generate any cashflow or to turn a profit. PSA does all three.
Imo China looking better and better, Moonshine looks like only a matter of how many dry holes required, if any, before being seen as a great success. Reading the O&G Gazette article was very reassuring that this is not the dog the market is calling it.
Regardless, not sure about cause for sp optimism through 30 June at the least.
To buy more or not? Not brave enough myself just yet.
EL
PSA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
