hopeless

Well a quick review of the quarterly report makes me wonder why PSA is still in business.

Debt of $29 million due this year. Cash of $26 million including restricted cash, P & A costs of $5 million in excess of restricted cash, well drilling costs coming up and no cash to pay for them.

A huge Beibu Gulf drilling program and no cash for it.

The only good thing in the report is the CNOOC backed into the beibu Gulf program so PSA will get something back from that over time, but IMO they don't have time......