I used to be a holder of PSA. I sold because of a number of reasons:
The shareholders are poorly-informed by management about the activities of PSA
It still has not got over its near bankruptcy of a few years ago, at least in many investor's perception.
Most investors view the high oil/gas price as being temporarily high. Mainly due to the influence of fund managers adding perhaps $10-15 to the price of oil.
The company has limited reserves.
The share price has done little, given its potential.
Granted the company has come a long way over the past 2 years.
But the main reason for the sp doing nothing is that given that there are a limited number of investors in oil/gas shares, the choice available means that there are better opportunities elsewhere i.e. HDR, ROC, NXS, STU, (note, I hold all of these), etc.
I think the cash flows coming out of PSA will eventually spark interest, but it has some way to go yet.
G
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
