(MENAFN- ABN Newswire) Sydney April 13 2016 AEST (ABN Newswire) - Petsec Energy Ltd (ASX:PSA) (OTCMKTS:PSJEY) CEO of Petsec Energy (Middle Eastern) Maki Petkovski Speaks with ABN Newswire.
Following the recent announcement of a 3000% increase in oil and gas reserves in both the Gulf of Mexico and the newly acquired oil fields in Yemen Petsec Energy (Middle East) CEO Maki Petkovski talks with ABN Newswire about the rapid growth in the Company's oil reserves and the consequent growth in shareholder value.
Petsec Energy has since 1989 been mainly involved in the Gulf Coast of Louisiana and the Gulf of Mexico USA but it is the newly acquired Yemen oil fields that will potentially provide a near term substantial increase in Company value and the capacity to provide in the very short term production of the order of 10000 barrels of oil per day.
The Company has acquired a developed/producing field of 23 producing wells in Yemen just South of the border of Saudi Arabia where the geology is the same as the vast producing wells in Saudi Arabia to the north.
With infrastructure already in place including pipelines and processing facilities the expectation is of an imminent and rapid ramp-up to strong oil production and cash flow.
To watch the video interview please visit:
http://www.abnnewswire.net/press/en/83239/petsec
About Petsec Energy Ltd
Petsec Energy Ltd (ASX:PSA) (OTCMKTS:PSJEY) is an independent oil and gas exploration and production company listed on the Australian Stock Exchange and on the US OTC Market. It has operations in the shallow waters of the Gulf of Mexico and Louisiana Gulf Coast region of the USA and in the Republic of Yemen.
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