PSA 0.00% 2.1¢ petsec energy limited

some further facts:their Accounts payable figure is usually as...

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    lightbulb Created with Sketch. 2082
    some further facts:
    their Accounts payable figure is usually as big as their Cash at bank figure - so they still have $50.8mil in debt - and they're still paying 10%pa interest on this debt - they'll be very lucky to produce 9bcf in 2009 or about $50mil in revenue at current prices before costs of $30mil and hedging benefit of $10mil less interest of $5mil so maybe they'll be able to halve their debt next year - but all these fields will be depleted by 2011 and they'll have substantial cash-out rehabilitation costs in removing platforms,etc.
    Chasing its tail I'm afraid - they'll have to get out of the Focus deal next month to reduce costs.
 
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Currently unlisted public company.

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