re: quarterly report: extremely good While I agree with you that a good partner is not a 100% guarantee of a good result, PSA has shown that it is incapable of picking good prospects or good partners.
They are zero for two.
Price Lake will probably end up costing the company on the order of $2 - $3 million US or even more if they don't hit good gas with the next well.
Until today's release it was said that the cost was a little over $5 million for the three wells - now we find out that over $7 million has already been spent - and the last well is yet to drill....
How much did they blow on Beibu? And they are going to blow more on it as well.
Poor choices, cost overruns, throwing good money after bad, high salaries and bonuses, undeserved options, rotten communication with shareholders, and as a result a share price that has gone nowhere.
How much have these bad decisions cost the company? $US15 Million or so?
Cripes they could have taken that money, borrowed the same amount and BOUGHT a producing company in the USA!!!!
Take a look at the STU report out today and there is no question as to which company is doing better. Two years from now I have no doubt that STU shares will be much higher than PSA's.
Any funds from the sale of my PSA shares are going directly into STU.
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