IF we hit oil on the first drill then I don't see raising approx 20mill for the second and subsequent wells will be an issue with a very big rerating in the share price. With 8B shares on issue it is not really a big ask to raise 20Mill - with a first successful well. Each subsequent successful well pushes the SP up. Not saying we will still be here for production but a lot of wells to be drilled before production and each successful well will make the current 2c look like a joke. Yep I will sell some on the way but will also keep a substantial holding. Hard to see anything but a bright future for PCL. All we need is for BOD to actually keep the SH informed of what is happening. Oh, and for Iain not to sell us out and run again (NWE)
PCL Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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