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  September 5, 2001
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Home > Company Index > Energy > Oil & Gas Exploration & Production > Petsec Energy Ltd

Petsec Energy Ltd
OTC: PSJEY
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 PROFILE
The shallow waters where Petsec Energy has sought to make a living have turned choppy. The exploration and production company concentrates on the shallow waters off the Texas and Louisiana coasts in the Gulf of Mexico, where it has an extensive geophysical database and holds five exploration leases. In the face of huge debts brought about by sharply lower oil prices in the late 1990s, Petsec sought to reduce its exploration risks by engaging in joint ventures. However, the company's US-based operating subsidiary, Petsec Energy Inc., was forced to seek Chapter 11 bankruptcy protection in 2000, from which it emerged in 2001.

 COMPETITION
The Houston Exploration Company (THX)
Newfield Exploration Company (NFX)
Range Resources Corporation (RRC)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 9.50
1-Yr. Sales Growth: (75.6)%
Employees: 27
Revenue per employee: $351,851.85

 KEY PEOPLE
• Terrence N. Fern
    CEO
• Ross A. Keogh
    CFO

 CONTACT INFO
Level 13, 1 Alfred St.
Sydney 2000, Australia
Phone: 61-2-9247-4605
Fax: 61-2-9251-2410
Online: Web Site

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