gas prices hold up....

Given the much warmer temperature being experienced in the north east of the United States the fact that Henry Hub spot is down so little suggests that we could see prices remain high and go even higher once the warm spell is over. Spikes like last year will fill PSA's coffers to overflowing!!!!

The Vermilion result is a great relief to those of us who have followed and bought heavily into PSA this year. The one well looks about the same size as all five West Cameron wells so a success with V#2 will give PSA double what they have left at WC. So PSA is assured of a good cash flow, healthy self funded exploration budget for the next few years and excellent profits.

China will be icing on the cake if it comes in and it will be very thick icing if Beibu proves to be half as good as the jv partners think it is. Just wait until we get some media attention on this project and watch the interest build and see those that are not on board now scramble to get on. Could be spectacular.