General Thoughts, page-5571

yes you are right Alexei.
This PCL, Saturn numbers are so cracy mind boggling skyhigh that I cannot beliefe it and thats the reason you easily overread typos. 1.6 billion $ for a prospects is a cracy number but when you compare it with the AOI-ECO deal you end up in a Saudi Arabia range.

When you check the Africa Oil and Eco Atlantic Oil and Gas press releases about their deal you see that Pancontinental is currently cheap

The block 3b/4b in the Orange Basin on the South African side is just an exploration block without any exploration well. They have mapped some very promising prospects and leads, thats it.

Recently Aoi and Eco swapped their shares in this block and you could calculate that AOI paid roughly $8 million US for 1% of 3b/4b, which may hold 4 billion barrels in deep water. The Saturn prospect contains perhaps 40 billion bbl oil in place, meaning Pcl should get 80 million $ for one percent of Saturn. Pcl got 20% of Saturn which means, today Pcl should have a market cap of 1.6 billion US$ whereas Pcl got just a market cap of 83 million US$ (122 million Australian $). With these assumptions, the share price should and could be at around 30 cents US (or around 0,43 Australian $) currently.

Perhaps you could argue about the 40 billion bbl in Saturn, but nobody knows if there are 4 billion bbl in 3b/4b or not as well.


In Jan 2024:
Pancontinental Executive Director, Barry Rushworth commented "While patience is required with
regards to the significant 3D seismic interpretation and modelling effort, and also establishment of the
long stop date, the prolific Namibian Orange Basin continues to deliver and I believe Pancontinental
continues to be exceedingly well placed for an exciting 2024 and beyond."
Well, till now 2024 was not so exciting, according to the potential of the share price.

Of course the more the Saturn is derisked the higher the value respectively price of Saturn. And than we talk about a share price in the range of X US$ per share. I hope Pcl does not accept any early premature low price offers.

I see this as a possible once in a lifetime chance. Of course the whole Saturn could have a very shaly sandstone or could be full of reservoir water. But if it is full of oil up to the spill point, that can be produced economically it is not only a life changer for you but also for your grand kids. It happened in the past. When the very big oil fields were discovered in Texas around one hundred years ago, some families got very rich. And some grand or even grand grand kids still earn every year more money from this old oil fields in Texas than you earn with regular work per year.