re: Ann: Petsec Energy ASX4E & Consolidated F... Hello...

re: Ann: Petsec Energy ASX4E & Consolidated F... Hello UniTrader,

At the teleconference, the usual questions about future exploration and growth initiatives were asked ... I think everyone's interest is on this front ...

We can see that the existing work and money appears to be under control but we want to know when some new activity (eg wells, JV's, acquisitions etc) will emerge that will help stimulate the share price.

The 4E report included comments about an anticipated new well in Q2 (see page 8) ...

" ..The Company has reviewed many exploration projects of various quality throughout this period and has identified its first exploration project which is expected to be drilled mid-2014....."

This section goes on to talk about ... "...The first of the Company’s own prospects is expected to be tested during the third quarter of 2014...." ... I believe that this is the "Hummer" prospect.

Terry did not elaborate but did mention that he is looking to have at least three wells done this year ... probably the above two (2) plus one (1) more?

Terry did recognise that it was time for PSA to get back into the "exploration mode" to utlimately help bolster existing reserves ... I think everyone agrees ...

One thing for sure is that PSA will not divulge any info regarding an up and coming initiative until its "in the bag" and this sometimes frustrates a shareholder who is interested in knowing how his portfolio is progressing (or not)...

Cheers

PeterRG