Sydney, Jan 30, 2017 AEST (ABN Newswire) - Petsec Energy Ltd (ASX:PSA) (OTCMKTS:PSJEY) is an independent oil and gas exploration and production company listed on the Australian Securities Exchange with operations in the shallow waters of the Gulf of Mexico and onshore Louisiana, USA, and onshore in Yemen.

High Value Asset Base

- Audited Reserves: 9.3MMboe

- NPV10 US$188.1MM

- Petsec Energy Value per share: A$1.06

USA

- Net 2P reserves 1 Jan 2016: 3.7MMboe / NPV10 US$32.7MM

- Mystic Bayou gas/oil field

- Full value not yet attributed to Hummer Development, discovered in Nov 2015

Yemen

- Net 2P reserves 1 Jan 2016: 5.6MMbbls / NPV10 US$155.4MM

- An Nagyah Oilfield in DAMIS (Block S-1) only, no value attributed to remaining 4 oil and gas fields in Block S-1

- No value attributed to Al Meashar Oilfield in Al Barqua (Block 7)

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About Petsec Energy Ltd

Petsec Energy LtdPetsec Energy Ltd (ASX:PSA) (OTCMKTS:PSJEY) is an independent oil and gas exploration and production company listed on the Australian Stock Exchange. It has operations in the shallow waters of the Gulf of Mexico and state waters of the Louisiana Gulf Coast region of the USA, and exploration activities in the Gulf Coast onshore and bay areas of Texas and Louisiana, USA and Yemen.

 


Contact

Mr. Paul Gahdmar
Company Secretary & Group Financial Controller
Petsec Energy Ltd
T: +61-2-9247-4605
F: +61-2-9251-2410

Mr. Manny Anton
Head of Investor Relations & Corporate Development
Petsec Energy Ltd
T: +61-2-9247-4605
F: +61-2-9251-2410
www.petsec.com.au



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