whos going to ?, page-27

re: petsec post agm lunch... old man river "I want to see a dividend and people need to see that way clear"

Their database points to smallish but very profitable reserves. PSA then has to bid for area to target. These reserve sizes are known beforehand so the cost of recovery and reward are known pretty well in advance. The big plus is the further 3D seismic data gathered with even more sophistication that the 3D data they already hold in their existing database (ROC are either lying or really should not be Oil rig operators/explorers?)

Personally I would first like PSA to initially allocate funds (US$10 million) for a buy back. This would stabilize share price swings and increase dividends when they do announce them (possibly next year at a guess) For an oil company to advance they will need at least a US$100 million cash in bank.