new presentation means, page-3

"read the ANN, they will still have $18m up their sleeves after 1 year of drilling/ exploration and development."

I did and that $18 million is based on an operating margin of $5.50 per mcf.

With NG currectly at $6 +/- per mcf , I doubt that PSA currently has that kind of margin.

It will even have a smaller margin when HH spot goes below $5 per mcf after this heat wave.

And a little extra info:

US LNG imports surged over the past week:

"US LNG imports have rebounded to the 3.5 billion cubic foot (73,500 ton) per day range in the past week after dropping as low as 1.9 Bcf/d in late July, when the Henry Hub benchmark hit its recent low of $5.86/MMBtu. Pickering Energy Partners showed 3.8 Bcf/d slated for delivery Tuesday, the highest volume so far this summer."

And IMO PSA is putting out the presentations to lay the groundwork for a cap raising. We'll see in a month or so won't we....