618, As a long holder of Petsec the stock has treated me very well as I have bought and sold at various times.
To cut your research short I strongly suggest listening to the audio cast of the AGM last Thursday. You can read the 75 page presentation but you miss the extra information that is contained in the audio.
Its about 100 minutes but gives a very comprehensive overview of the company. They even devote about 10 minutes at the end to shareholders concerns about the sp fall which would assist those not close to the company.
If there was one thing that may have held the company back is the markets misunderstanding of gas. Simply oil is sexy, while gas tends to be thought of as acheap commodity as it is in Australia. Of course this is not so in the US where gas prices are 3X our own.
But PSA will be going for sex appeal with up to 4 oil targets to be drilled in the Gulf of Mexico this year which adds to the exploration oil wells in China late this year.
PSA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
