Latest Rumour what's next At the Resource Show in Vancouver this part Sunday and Monday, rumour has it that PSN will be acquiring a water purification company. If this is true, it will be a major move for PSN, something other start up tank suppliers won't have and something the industry desperately needs. Just think of all the environmentalists screeming about fraccing. Most of their complaints are false but contaminated water on the surface is a real problem. PSN can supply the tanks and clean the back wash of comtaminated water. About 50% of the frac water comes back out and it is contaninated of hydrocarbons. The water will be fed back into a PSN tank and cleaned for recycling!
The industry will love it. They need it badly for their image and it will head off further objections before they become more serious. This will not only be an added revenue source but strengthens PSN's service offering that competion will have a much tougher time matching.
IMHO this is why the stock is taking off. As soon as the offering came out I not only bought at the new issue but bought more in the market. It is obvious they were raising the money for something!