Petsec begins production at new well

Company News


Petsec Energy Limited (ASX:PSA) says it has commenced production at its 25 per cent owned Mystic Bayou Discovery Well in the US state of Louisiana. 
 
The well is producing at a rate of 5 million cubic feet of gas per day and shows no water. 
 
Once production has stabilised rates will be increased to optimise well performance and recovery. 
 
Petsec reported a net loss of $4.8 million for the 2015 financial year. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.