As a shareholder of PSA I'm happy that we didn't continue to go down the Unconventional Exploration path ... With prices the way they are, the economics may not be good these days ...
Not clear about why Yemen is gone ... will the civil unrest continue indefinitely and prohibit any future commercialisation of it's untapped assets ? ... besides the value of Yemen, if any, is definitely not included in the current PSA share price of AUD 9.1 cents ....
In fact it's hard to tell what's included in the current share price as it doesn't bear any resemblance to the current asset values ... namely
Cash in Bank US$32 mil
Adeline Not Valued
Liabilities US$1.4 mil (Yemen)
Nett US$30.6mil / .80 (AUD Exch Rate) = AUD $38.5 mil / 231,161,630 shares
= 16.6 cents per share where as current list price is 9.1 cents per share
= trading at 55% discount
PSA Price at posting:
9.1¢ Sentiment: Buy Disclosure: Held
