Yes and no - the idea that the licence will be extended, WDS will farm-in and drill isn't surprising. Whether that's properly priced in, I doubt it. Word is that brokers are holding off until there is more certainty. I think today's ann provides a rather strong indication.
The other uncertainty is the geology, hence why I've put the question out there to those who know more than I. Mgt seem quite comfortable with the oil source formation though, therefore I certainly take this as a positive.
Put it this way - WDS have clearly made some interpretations of the 3D data and are not walking away. The geology is also showing the goods so far. These two aspects could have gone in the other direction, but didn't.
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)