Australian (ASX) Stock Market Forum

PSA - Petsec Energy

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Ken said:
Do you think we have found bottom??

I think $1.33 was fitting that it bounced?

The downward trend over you say?


Looks like an over reaction to an announcement which was pretty much nothing..
Click to expand...
I like the rejection of sub $1.35 ish. If it is going to continue down I feel it may have to break $1.30ish. when a lot of other stocks are dropping and holding it gives perspective to what happened with PSA today.

Long term trend is not over, but the short term is, coupled with the rejection today :confused:.What can that mean?:)
 
Been in for over week at 1.46, I reckon buyers today at sub 1.40's may well have picked the low... only time will tell

One of the best small oil & gas co's listed in Aus from a fundamental perspective and is one of my largest holdings (of only 3 :p:)

I'm holding for 6-12 months looking for $2.00+

TJ
 
It's Snake Pliskin said:
I like the rejection of sub $1.35 ish. If it is going to continue down I feel it may have to break $1.30ish. when a lot of other stocks are dropping and holding it gives perspective to what happened with PSA today.

Long term trend is not over, but the short term is, coupled with the rejection today :confused:.What can that mean?:)
Click to expand...

Hows things Snake, I remember when you "taught me a few things" re analysis using PSA as an example which was very helpful :) ............... Looks to have been some "quiet" accumulation going on for a while on them, and it is shaping up nicely atm. Will probably be a bit of selling pressure on the way back up, but now the low sp is looking like great value considering the fundamentals on them is also excellent ............. I bought in today, and it looks like a good "low risk" trade to me ............. Cheers.
 
barney said:
Hows things Snake, I remember when you "taught me a few things" re analysis using PSA as an example which was very helpful :) ............... Looks to have been some "quiet" accumulation going on for a while on them, and it is shaping up nicely atm. Will probably be a bit of selling pressure on the way back up, but now the low sp is looking like great value considering the fundamentals on them is also excellent ............. I bought in today, and it looks like a good "low risk" trade to me ............. Cheers.
Click to expand...
Barney,
How are things? All is well with me thanks.:)

My comments were just discussion and I disclosed my purchase. It may continue sideways for a while but If I am patient I may be rewarded with some appreciation. Lets see where it goes.

Regards
Snake
 
Sell side seems to be evaporating...

A close above 1.50 would be good. Tax loss selling complete, who's willing to sell their PSA shares now??

TJ
 
Well my gut was correct, in hitting bottom. I dont like the company all that much, but I still reckon its under valued.

Will wait and see, its in a hot sector at the moment, so no reason a good 50% cant be recovered in the next 12 months.

Still looks undervalued.

If the trend has changed, then we should be in for some good profits...

Theres only 3 trends - down, sideways, upwards.... you decide which way PSA is going...

Can you pick it?....
 
PSA presentation was made to Macquarie Bank on 11th July and second qtr activities report will be released Thu 19th July.

lets see if these two events will be the catalyst for SP to break the $1.60 resistance.

Tue Aug 21 2007, PSA will again have a presentation in the oil and gasconference in Denver, will increase PSA's exposure amongst world's energy sector analyst.

http://www.docengines.com/ArticleFile.asp?Instance=105&ID=BA80C6402B7B4E8BBDCDCA1417EC1939

http://www.theoilandgasconference.com/

:)


DYOR, as always.
 
Up 13 cents today... PSA is running. I only hold very few, but I am happy with my analysis to this point.
 
Big volume on Friday.

Broker Tolhurst recommend buy with target price $ 2.90
Broker BBY target price $ 3.09


Any chartist who can help to confirm the target price? It would be good entry timing if PSA is also technically viable.

DYOR
 
:)

Hi folks,

PSA ... March and April 2008, this one
should be absolutely on fire ... possibly
something to do with new technology,
around 21-22042008 ... :)

More later.

happy days

paul

:)
 
On a down day for the market Petsec is rocketing along 3.5% and is at $1.73 now....

Should be some volatility on the way up - but all I can see is $2+

TJ
 
I jumped into (PSA) today after it was screaming out to me as a textbook double bottom pattern confirmed. I believe there are soo many things going for it technically with the big volume confirmation on the breakout, coupled with the very nice bullish divergence in OBV and MACD. Furthermore it has broken the long term downtrend in place since the double top pattern in 2006.

I see the first target at around $2.16, being former support turned now resistance as well as the 61.8% retracement level from 2006 highs. From there it should challenge the 50% level ($2.42) and if it can break the $2.70 region, look for it to eventually challenge its old highs. However this is a long way off, but there is no denying the classical nature of (PSA) and its chart pattern in my opinion.
 

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PSA has done well relative to the general market over the last few days. I noticed a large seller bumped the price down towards the close, but, in after close trade, another large buyer gobbled up the 150,000 shares on offer, so there is still some serious accumulating going on.

Looks to be holding the recent $1.50 support well. If it holds above todays close of $1.59 (might drop to mid one fifties to complete the current abc ??) and continues up to break through recent high of $1.79 it will be looking even better for a steady run up. All assuming the general market behaves of course ........... can't be sure about that :dunno:

(You still holding Snake??) Cheers.
 
Anyone listened to the presentation on PSA?

All sounds a little bit messy.

A lot going on...

A lot of could be's....

Any thoughts?
 
Unfortunately had to sell mine after a house purchase recently (got out at 1.65).... seems to be running again, now at 1.83

Fundamental picture still good

Looking for $2+
 
This comment is not stock related but just as an aside tjamesx, i see u r using an aphex twin avatar. You a fan?
 
OK, found some funds,

Back in at 1.53, looking for 2+ in the next 6 months

Comsec initiated coverage and have a buy with price target of $3, China drilling starts soon, fundamental picture is good

TJ
 
Trader Paul said:
:)

Hi folks,

PSA ... March and April 2008, this one
should be absolutely on fire ... possibly
something to do with new technology,
around 21-22042008 ... :)

More later.

happy days

paul

:)
Click to expand...

Hm i see :)

Btw does anyone know the mine life of this company?

thx

MS

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 20.0 5.4 21.6 22.8
DPS 0.0 0.0 0.0 0.9

Business Description
Petsec Energy Limited (PSA) is involved in the exploration, development and production of oil and gas. Operations are focused on the shallow waters of the Gulf of Mexico, USA and Beibu Gulf, China.
 

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