The already published oil shows in this Block 7 area has the opportunity to grow and develop into something BIG....
On the other hand, the political and civil unrest in this part of the world has been well documented and hopefully the Yemeni Government (and its people) are maturing and are becoming more aware of the benefits to the Yemeni economy of a strong oil and gas production environment and I believe that they are working towards this end ... recognising the need to support these exploration/ production initiatives ...
In relation to PSA involvement in Block 7 area ...
This is a punt ... but it appears to be a purchase at the bottom end of the pricing scale.
AWE do not appear to have done much with their interest and the fresh opportunity for PSA to collaborate with large players like OSH who are already in this area can only help PSA to gain further inroads into becoming a larger player itself.
This collaboration may not reach maturity straight away but it is an investment in the future.
By the way ... I don't think this is the last fresh opportunity that PSA will present to its shareholders in this current year ...
Cheers
PeterRG
PSA Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
