brokers report out today, page-9

Not necessarily so acturtle. PSA's current formula is what took them to $7 on only slightly less shares than they have now. This strategy took them time to build reserves to well over 100bcf but the market recognised the income and rerated them accordingly.

While I to would like to see reserves growth accelerate I believe the current approach will bring in substantial capital appreciation in the medium term.

Given the BBY forcast for 2005 of eps at 35c this baby is heading north. Personally the BBY assumptions seem a little conservative to me.