Imagine my surprise when Channel Ten's Five O'clock financial news had Petsec as the small oiler which stole the energy market action today by rising 5%. Bit hard to find an oiler that rose during Monday's session but I guess they could have picked AWE,ROC or COE, the other winners today.
So great to see PSA get some publicity Might even lead to a few viewers having a look at the fundamentals. Oh yeah....
While we are on Petsec lets just point out that the company could soon be producing 30-40 mmcf of gas a day when Vermilion comes into production shortly. At that rate and with current high gas prices in the US, PSA would pay off its entire Vermilion investment in three months!!!!
And it has only just begun to explore the potential of the Vermilion leases. In coming months when investors will be looking for a defensive energy investment in a falling stock market the focus will be heavily on cash flow, cash flow, and more cash flow. Nice that PSA has plenty of that.
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
