I'd definitely say point one was the case - the WDS strategy is to focus on core assets / projects that provide returns in the short-medium term. A long-term oil play offshore Namibia was a square peg for a round hole. Having said that, there might be something in your second point - I doubt their relationship with the Namibian govt was great. In any event, WDS is in the rearview mirror and we've got a free 6,593 km2 3D survey, that cost more than our current market cap.
PCL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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