Salient is a small corporate advisor made up of 3 ex Hartleys operators (Grey, Paul and Scott) from the EH corporate division.
They are each highly skilled in their operations and as I understand it were a team that provided ongoing corporate work for PCL.
Scott is a highly skilled corporate negotiator.
They will not be there just for their fee,
I’m pretty sure they have some skin in this game (yes options but perhaps head shares too) but having said that the fact that they have take (part or full?) payment in options for their services should give confidence that they will work for the betterment of PCL shareholders.
So why are they advising the PCL Board?
I strongly suspect they are there to get the best possible deal for PCL shareholders in the probably event WDS farm out part of their 56% post farm in with PEL87 and AFTER the first drill has been completed.
Best case as part of a WDS farm out deal PCL gets free carried on a second well if it gets to that stage.
Offshore Namibia PEL holders and operators are in a period of intense M&A and we are potentially right smack in the middle of it.
The catalyst is the SSL.
Then things should develop rapidly
PCL Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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