re: not going to go into debt again
It's about time Fern got over the past and moved on. PSA has a most inefficient Balance Sheet and he shouldn't expect shareholders to cough up all the money for his expansion plans - there wouldn't be another ASX company with PSA's revenue, producing assets,EBITDA and CapEx requirements that doesn't have debt on its books. We will never get a dividend if he continually reinvests every single dollar of profit in more CapEx if he doesn't have debt facilities. Can you imagine you or I not having any debt and trying to build wealth - it just doesn't happen - everybody has debt. With only 17.5%NRI of the onshore Louisiana wells, I can't see any flowrates being big bikkies for us. I wonder if that 100k buyer is genuine - was that bid there before the market closed yesterday? No it's definitely not mine as I don't think there's any hurry to buy these at the moment. More excitement elsewhere but probably not better longterm value.
PSA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
