You would think July latest as they still need to plan and shoot the 3D this year to meet contractual obligations of the contract extension. I think small 3D can be shot as quick as 6 weeks but large obviously could take more – 3 months? The technical guys might be able to give an estimate on time to process the data as I’m not sure. They might get to the point where the 3D is shot but it hasn’t been completely analysed and they then need to commit to the next phase? Only a problem if they find something they don’t like on the 3D but you would think that with such a large area there is somewhere they would be willing to put a hole into the ground?
Could they all be in the process of trying to negotiate with the government an adjustment to contract clauses to give them more time to do the 3D analysis? Might be unlikely as we’ve seen how long the last extension took (not that we ever were informed about the paperwork that I can remember). Don’t want to leave things to the very last minute and get into a time crunch.
Wonder when in 2023 they will actually start drilling?
PCL Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
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