need a bit of info from you terry!!! The trouble is we don't...

need a bit of info from you terry!!! The trouble is we don't know what PSA is producing into these current prices and looks like the company is not about to tell us.
Last year in May they at least produced a media release saying that recompletions had been finalised at West Cameron and the wells were back on line producing 25 mmcf a day even if they didn't give any indication of whether that was net or gross or what ever. Pretty poor media relations!!!
I know the company was due to undertake more recompletions this quarter and that production levels and revenues will probably be down. So you would think they could at least put something out about this.
A press release could also at the very minimum include progress on recompletions and progress on setting up the platform at Vermilion (at the AGM Keogh noted that the platform was on a barge waiting for the weather to clear). And it would be nice to know that the production at Vermilion was on target for an early July start up.
Added to that is the failure to upgrade the website which still has 2001 as the year in review. Gives people the impression that the company is still pretty much a penny dreadful which it isn't.
Last year at this time the shares began June at 53 cents and were trading about 50,000 shares a day. They edged up to 59 cents by June 10 still on smalll volume. Then for some reason they really took off. On June some 436,000 shares traded and they ended the day at 65 cents. Volumes continued at these levels until the end of June by which time the shares had risen to 80 cents.
There was nothing in the market to justify the increased attention tothe company. Trading levels just don't increase by a multiple of eight just because us mug punters have woken up to the story. No.. there must have been some private promotion of the stock somewhere, somehow....by some one.
Back to today and we see constant selling pressure. I know June is an odd month and people do things for strange reason including tax loss selling (which is maybe not so strange) So maybe we can expect some curious and unexplained price movements.
But with Petsec there is nothing to suggest that the AGM's rosy predictions about this year's production and revenue have changed at all so why would anyone who did the minimum amount of research be selling the stock. Maybe to buy it back in the second half of June
at a lower price??
The market's behaviour lately, so far as the oilers are concerned, has got me beat. I guess the smart money didn't expect oil and gas prices to stay at record levels and maybe they were right.
There is no doubt in my mind that anyone with a decent amount of capital and several trading/investing accounts can really manipulate the small illiquid stocks if they have a mind to. Begining to think that next year I will sell down in May and stay away as the old adage recomends!!!