Unfortunately bagging the management all the time only puts...

Unfortunately bagging the management all the time only puts others off the stock thus compounding the selling that seems to be so irrational and frustrating. As far as outlooks go Petsec probably has as great a 12 months coming up as any of the producing oilers, particularly with nat gas prices the way they are.

I agree it would have been nice to know that the onshore drilling had been postponed earlier than this but it doesn't hurt to ring the company and quiz them about it. If the companiy says it does have commercial in confidence reasons for keeping mum about the project then so be it. Lets hope the end result warrants all the secrecy.

The oil sector seems to be inhabited by speculators looking for a quick buck (and not finding it!!!) and nervous investors a bit afraid to commit to the better stocks for fear that oil prices will come off and they will take a bath. Look at what happened to AWE today, that's an indication of the nervousness that is out there.

The fact that a number of the juniors like AWE, TAP, ARQ, PSA, AMU are good companies growing reserves and revenues and will do just fine even at much lower energy prices doesn't seem to register.

I am beginning to think we won't get much serious money flowing into the sector until the opportunities dry up in other areas and oil and gas prices demonstrate that they are not going back to US$30.00 any time soon if ever!.

And part of the trouble is brokers and analysts don't stand to make much money from corporate activity with the oilers so why promote them. And as for our media coverage of energy issues in general and the challenges facing Australia in the future as our self sufficiency declines, well forget it.

Maybe it will dawn on our political leaders some day that it is a bit stupid to import other's high cost high margin oil and export our low cost, low margin gas.