Yes it is .... but that is what we are allowed to do. PCL is now a different beast to what we were when we were trying to get WDS on board. If we have 20% then 5 wells share cost to us is $100million if each well is going to cost $100million each to drill. We bring to the table 2D and 3D analysed seismic Data which in my opinion is worth in excess of $50Million plus a potential resource estimate of 20 Billion Barrels of Oil/Gas .... value it at $0.10 or even $0.01 ..... and a GCOS of 20-30% compared to a GCOS for wildcat drilling of 6.6%. I really wouldn't want you to be negotiating a deal on our behalf.
PCL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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