I would not discount that Woodside may sell their option in Pel87 to another player such as Exxon,(who recently walked away from Galp. Wonder why? ) maybe Chevron(eyeing takeover of Woodside) at a premium to what 3D has cost them, together with analysis.
Woodside took a big hit with green push and this is evidenced with the current div yield which has dropped to around half of recent years(factoring sp of $37 not that long ago) and perhaps in the mindset that deep water could further recede financials.
Why else would they be awaiting a signature that grants them access to 3D, should they leave the party.
Furthermore, why are they causing lengthy delays.
More importantly, as far as we know, sole cause for our share price lingering at these petty levels.
In any case, if you are wondering whether your money is parked on a good investment, i encourage you to revisit PCL webinar from about 5 months ago. (The one before last) ask and i will share
it seems relatively clear that Saturn is going to be far from disappointing and i personally dont mind if a major to get the ball rolling comes to the party.
just my thoughts ofc
(20min delay)