At their peak they had a market cap around $440 million.
There was a brief moment when they were drilling their first drill in the Gambia (around 2018?) where their market cap almost hit a billion dollars. They did have a huge chunk of the licence (approx half), approx the same shares on issue as PCL have now (would eventually grow over 10 billion soi but not yet). Their SP hit 11.5 - 12 cents. Foolishly I held on without selling down as they ended up finding water.
But the hype of possibly replicating Senegal and the huge chance of success "touted around 50%" drove the sp up briefly. Senegal was only 560 million barrels equivalent. They didn't find anything in Gambia to date.
Please note that this hype was partly driven by an over confident management team who ended up with egg on their face but it is an interesting example of hype at work.
PCL Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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