IMO for reasons undisclosed PSA have been in cash gathering mode? (Finaly dividend mode?)
They will be spudding the third onshore well sturlese #5 next month with a "#6" being looked at (not sure if litigation attempts are over? A big concern with all onshore development is litigation and the card playing attitude that has to go with it)
Main Pass 19 is still waiting for a confirmed drilling date? I note they have now two more leases in main pass area. Which mean to me it is cheaper to have a continuos drill program than a stop start one, this also increases share price pressure
PSA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held