FAR got greedy and tried to takeover the share that WDS got from Chevron( I think) in a deal. I don't see that happening here. As Jibby said earlier, I too think we will see a multi-well shot at Saturn. PCL will need to decide whether to fund the second well or negotiate the dropping to 10%. I think the decision will rely on a number of important points .... 1. What will be the cost of our(PCL) share of the wells .... 2. The share price of PCL at the time ..... 3. The volumetrics of the Saturn Field ie. how many Billion Barrels of Oil are we chasing. I am more confident since the webinar that the extent of the field has been significantly enlarged and we will be excited with the overall volumetrics of the resource. Someone calculated that the value of each Billion Barrels of Oil discovered was worth 12.5 cents per share to PCL ..... I sure hope that they are right.
PCL Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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