It's definitely one of their options but I would think unlikely - the stigma to it happening twice would be too much - you would think that the remaining producing assets in the US might be worth the $29.5mil anyway. There is also the problem of which subsidiary in Petsec actually owns the Beibu interest - I believe it is Petsec Petroleum LLC which is another US subsidiary - the problem then is does PSA or PEI directly own the shares in this subsidiary. I still think they'll just issue a bucketload of shares to resolve all their funding problems.
PSA Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held
