it could also be a stalling game, where they build up SH frustrations, and then someone lobs some sort of offer at us. The bored would then have to "weigh" everything up, esp the wishes of the top 20, and listen to their corp advisers who Im guessing will tell them to take it... and my suspicion all alonghas been the wds deal may have been crafted with this possibility in mind.
It seems to me the "seismic license" is a construct that was spawned between pcl and wds when they drafted their agreement. Why wds did not go to a 56% interest upon shooting the seismic is beyond me, and yes it seems strange on the face of it - they spent USD 36M and they have nothing? does not pass the smell test. Namcor is only involved as it represents a change in the permit arrangement - which they have to approve - and they maybe dont know how to deal with it - and maybe someone is telling them take your time folks, were in no rush. This all provides wds with valuable (to them) stalling time.
Question is what is the prevailing PCL SH sentiment and resolve? . Like many here, im happy to sit it out and wait until the second drill is done. If thats in 2 years, then so be it. If folks on this forum are like minded, then prepare yourselves for the wait and temper your mindset to reject any offer that may come in. The only thing the whingeing is doing is providing the bored with more ammo to accept any offer that may come in pre drill.
PCL Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
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