share price, page-2

Many analysts have PSA valued at > $2 per share. The current share price is a result of market sentiment generally (PSA is not alone in this panic driven mkt). Based on available info, PSA will deliver > $80m in free operating cashflow this year (YTD production targets above budget based on prior threads), repay a significant amount of debt and will be well placed when China oil production comes on line in early 2010. Forward gas prices are also quite bullish. I believe that we will be looking at a $2 share price within 12 months without a shadow of doubt. In 6 weeks when Q1 results are published with EBITDAX > $20m, watch this one move.