A rig can always be optioned... common practice, a few $$ to the driiling company, the rig is still "available" but not booked. Everyone except the punters are happy, gives the geo team time to work up the drilling targets, allows the long lead items, like casing and other equipment to be sourced, (and often optioned) and when the targets are finalised, the drilling costs are pretty much firmed up also and all the ducks are lined up and the drilling can commence. Big companies can move surprisingly fast when they want to. WDS will be driling before the greenies can invent some critically endangered sub aquatic meerkat to rally a fleet of kayaking loonies to blockade Walvis Bay!
PCL Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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