PSA closed at 77c on 21Nov so it's gone up nearly 50% in just over a month-even though shareholdings have been diluted by 10% by the placement and it went up in anticipation of a good result at Vermilion. PSA will be participating in up to six more wells in the next three months(one every two weeks) and there's a lot of confidence about them all.I certainly wouldn't want to be backing any other horse in the $2 race. The company will eventually have to tell us how many bcf of gas is in this well as it will be included in the year-end reserves figure. Still a bargain.
PSA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held