Ann: Petsec Announces Results of Main Pass 273 B-2 Well, page-6

This well basically sums up PSA over the last 5 years. Big promises followed by cost blowouts that lead to disaster. They are out of cash and out of options. Unless there is a highly unlikely resolution to Yemen it is all over for these guys.

I have have been the most cynical on the site regarding PSA management and it turns out that it was for good reason.

bad luck to holders. I take no joy in this as I was hoping to jump on once they got some results but glad I got out some time ago.