re: usa ng futures prices...psjey.pk
Wonder how long until the "new wells" - both onshore and offshore will (whne and IF ??) start producing?
PSJEY.PK closed in the USA at $4.35 according to Yahoo which works out to about A$1.21 per share....
Maybe PSA can get its act together and get more gas produced when the prices are high and the market will forget how little information they give shareholders..
Natural Gas Nov '04 6.820 0.095 6.724 6.872 6.724 Natural Gas Dec '04 7.700 0.075 7.631 7.750 7.631 Natural Gas Jan '05 8.070 0.075 8.020 8.119 8.010 Natural Gas Feb '05 8.012 0.072 7.950 8.044 7.950
IF and it is a BIG if they get a cold winter, cash prices will most certainly be above these futures prices. At $8 per MCF and 71 cents to the dollar, that works out to A$11.25 per MCF.
Last time the spot prices started to soar, the hubs in the middle of nowhere even started to go up showing increased demand across the system. IMO the one to watch is OPAL - if that starts going up then everyhting will probably go up.
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
