Is PanContinental a Buyout Play

Hey guys, I have been a shareholder for a few years and have been following this thread for a while. This is my first post.

I have really enjoyed reading your comments.

I was wondering if anyone expects PCL to get buyout offers.

The current market cap is still under $100 million. Assuming the 3D results are favorable-either matching the 2D, or an upside surprise- would it make sense for Woodside to try and buy them out?

A .05- .06 offer would only be in the $500 million range. A .10-.12 offer would only be around $1 billion.

If we are sitting on either 10% or 20% of billions of barrels of oil, wouldn't it make financial sense for Woodside to buy our interest?

With favorable 3D in hand, would it make sense for another deep pocketed company, or investor to buy out our 20% and pay for their share of the drilling costs, to maintain the full 20% interest?

Would it make sense for PCL to sell? Guaranteed, risk free money now, rather than a slow, potentially risky payoff over the next decade or more?

Bux