"Oil prices have been very volatile over the past few decades and gas prices have shown similar variation with sometimes devastating impact on US E&P operations. Consequently, over the past few years PSA has wound down its activities to focus on key projects and now has just three operations that have combined reserves of 3.9MMboe NPV10 of US$25m (A$0.06/PSA share)."
"Activity has been reduced in recent years and many participants have withdrawn from operations, particularly in the near offshore regions. Environmental issues have also arisen after the sinking of the Deepwater Horizon drilling the Macondo Prospect oil field in 2010 and the subsequent industry- hampering legislation produced by the Obama Administration. PSA had wound down activities to reflect these difficulties."
PSA Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
