Hi sushi, now is not the time to give up on Petsec. By mid...

Hi sushi, now is not the time to give up on Petsec. By mid November they will double production at West Vermillion taking total daily production net to Petsec to almost 40mmcf a day.

At US$6.50 gas prices that's A$328,700 a DAY net operating cash flow. At US$7.50 that is $410,000 nocf a day. And if the gas price should get to US$8.50 then it would be A$465,000 a DAY.

And remember PSA is drilling those three mysterious onshore wells, on GOM geology, with the benefit of 3D seismic and with sub surface well control as a result of access to the previous operator's logs. You would think they have a reasonable chance of finding what they are looking for.

And with all the secrecy surrounding the operation you would think they were after something substantial.

You may wake up one morning to find that they had hit 100 bcf of gas. Ah that's the excitement of the oil and gas business. The share price would probably fall again!

Fern said in Perth, half tongue in cheek, that he wanted to get the company's market cap back to $300 million and then get taken over. Many a true word said in jest!!!!