The $0.04 target for PCL is pre drilling using comparisons with FAR, IVZ and 88E. In my opinion, if the 3D seismic results show positive indications then PCL will move higher than $0.04. I base this opinion on the fact that FAR, IVZ and 88E were not nearly as close to being in the same rich and fertile ground as what PCL finds itself in. In Namibia we have had now 3 (possibly more with satellite drilling) recent world class discoveries and the geology of those discoveries is very similar to what we apparently have at Saturn. With Galp's discovery right on our doorstep it simply creates irresistable interest for Saturn. Whilst I can understand why Euroz made those comparisons with FAR, IVZ and 88E; I personally dont see those three as being in the same ballpark of "geological prospectivity", even though the FAR discovery in Senegal is a significant find. Looking forward to release of 3D results with lots of pretty pictures!!
PCL Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
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