Petsec Energy Ltd. reported earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, net revenue was $2,318,000 against $5,841,000 a year ago. EBITDAX was negative $351,000 against EBITDAX of $2,786,000 a year ago. EBITDAX per Mcfe was negative 0.69 million cubic feet of gas equivalent against EBITDAX per Mcfe of 2.73 million cubic feet of gas equivalent a year ago. For the full year, net revenue was $12,955,000 against $27,080,000 a year ago. EBITDAX was $1,632,000 against $12,644,000 a year ago. EBITDAX per Mcfe was negative 0.72 million cubic feet of gas equivalent against 3.26 million cubic feet of gas equivalent a year ago. For the full year of 2012, the company forecasts net production from the company's existing producing fields is expected to be in the order of 2 billion cubic feet of gas equivalent.