In late January the stock raced from the high 20 cent band to peak at 42 cents within days, on news its three exploration wells were in production. It settled back to the mid 30 cent mark and pushed slowly higher till tipping 45 cents in early March.

Last week PSA pushed through 50 cents and after opening this week at 54 cents, today reached 64 cents on turnover of 165,000 shares at press time.

In 1996, PetSec shares were trading over $7.00 before collapsing and narrowly avoiding bankruptcy. It started reassembling the company and redrilling last year.

The company's AGM will be held in the ASX Auditorium, 20 Bridge Street, Sydney on 13 May 2003 at 11.00am.