General Thoughts, page-3542

I think this table and calculation from the EUROZ Hartleys report are out dated.




In the past this calculation and table have been the basis of many wet dreams here. No wonder, a prognosted PCL share price of 0.35 $ can be mind boggling.

But: The table ends with 5.000 million barrels of oil in place. After the Sintana/Galp discovery in the neighbouring offshore block, it can be argumented that this table should be expanded by 100 %. I think it is ok to create a new table which ends now with 10.000 million barrels of oil in place or even higher as Galp indicated for their block. A risked value of 5-10 $ per barrel in the ground is still ok, me thinks. Especially since the Orange Basin is more and more derisked. But we have now indications that the volume in the ground in the PCL block could be much much bigger.