Jocam, I would not expect a dividend for 2005. Remember, in US talk this is still a "micro emerging" company. Its too small to think about dividends.
Personally I would like to see a junior oiler like Petsec use its cashflow to build reserves to around 200bcf before it paid out a dividend. Then it will have sufficient cash flow for both growth and dividends.
investor presentation!, page-5
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