PSA 0.00% 2.1¢ petsec energy limited

BBC Yemen Update, page-711

  1. 6,756 Posts.
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    Unfortunately their other assets(Jeanerette and Mystic Bayou Fields) besides Hummer and Yemen are worth diddly-squat and wouldn't raise enough money to fill the petty cash tin.
    Can't see TF selling Hummer as he's just borrowed $US5mil to drill the second well there so essentially owes $US11mil on the Hummer field to the convertible note holder and there must be a big question mark as to how much it is really worth to a potential buyer which is probably only the operator Castex Offshore Inc.
 
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