what is the link to the hotcopper post from september/october (from memory) where someone did an analysis on the 'secret' well in LA and worked out where it was and who the operator was?
I am curious to see if he got it right.
I'm not a holder of PSA, but have watched the posts on this stock with regularity.
- I agree that management are not good at keeping shareholders informed. - I don't agree that management suck. They have turned the company around in the last 3 years. - I'm not sure why many posters dissect the spot Natural Gas price, because the share price is clearly NOT correlated to it. - The company talks a lot about hedging their NG prices - but they DON'T talk about hedging their US/Aussie Dollar price. Since we're in Australia, it would be better for us if they did - otherwise we're sitting on a huge currency trade, rather than focusing on gas exploration. - Although the Market Cap of the company compared to its reserves is good, I personally think that the only thing that will push the PSA share price up is:
A large expansion program, and by that I mean Vermillion x5 or x10 or another Beibu Gulf (which contains oil ;).
There is expansion, but it does seem rather piecemeal.
With the company sitting on $12M cash + receivables, I can only think that they are slowly building up their assets to grow into the futre.
Joel
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held