People need a reminder that PCL have little to no money in the bank (only enough to keep the old boys super fund building another couple of years or so). When it comes time to drill and Woodside actually hit oil, only then will Woodside probably just buy them out for lets say up to $100m. PCL's share price will only go up and down based on speculation in the meantime and to suggest $1 a share its not going to happen due to the amount of shares on offer and market cap.
Best bet would be 1.5 - 2 cents when the drill starts and maybe 3-4 if they hit good amount of oil. It will be then that Woodside will buy them out of their 20% as Woodside know that PCL will have to CR to keep operating (plus the old boys will be looking at retirement homes by then)
Cheers
Rooey
DYOR
PCL Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
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