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Vol. 9, No. 12 Week of March 21, 2004
Providing coverage of Alaska and northern Canada's oil and gas industry


Australian firm rebounds with cautious Gulf plays

Petsec Energy went through bankruptcy, shows $17 million profit for 2003

Allen Baker

Petroleum News Contributing Writer

In Australian company whose U.S. arm went through bankruptcy four years ago is now rebounding, with earnings of $22.7 million (Australian) for 2003, or $16.9 million in U.S currency. Petsec Energy Ltd. has been drilling low-risk wells in the Gulf of Mexico and so far has been successful in pulling....

    [additional news subjects in this story]

A start with three wells

New drilling site

Further afield

Hopeful future


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