My info is that it is a 50/50 shot which are not bad odds for an exploration well. Target is several tens of millions of oil recoverable. Prospect is in shallow water, based on 3 D and is on trend with discoveries in adjacent lease.
If China hits and our ignorant media wakes up to the story you'll get a lot more for your shares than you will now. If China misses PSA and other jv partners will suffer.
Looks like PSA will get its 2003 profit report out before the first well which should give you an exit point if you want one. PSA would overcome a set back in China drilling but it would take time. PSA and ROC are safest plays if you want to hold IMO. Good luck JBC
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
