2017, page-20

Whatever the outcome of the current PFC imbroglio,it is a given that Statoil will be in the drivers seat.They have a signed agreement with PFC covering a three-phase program,through the next three years..I believe that Statoil will be the major player in this Southern Georgina Basin area as not only are they in a J.V. with PFC/BKP, but also with CTP. That provides Statoil with an extremely
large basin "footprint"...

It should not be overlooked that the prescence of oil in Owen-3 has been confirmed..The core has been said to "have dripped oil"! "log data and core samples have been obtained and appear positive"! "These cores seeped oil upon retrieval and had extensive fluorescence throughout!"

The casing failure in Baldwin-2H,at a relatively shallow depth,(102 metres!), will be rectified and testing will resume.

Flow testing of MacIntyre-2H has yet to be completed and analysed..

One factor that seems to be overlooked is the prescence of Heritage and Soros,holding a collective 25%+ interest in PFC. It will be interesting to see whether one or both, hold,fold or increase!

The Elkedra prospect is due to receive some attention from BKP and will probably result in BKP coming to some sort of agreement with the existing operators of the yet to be completed,Phase-1..

I think your last paragraph neatly sums up the current situation.