dolmen stockbrockers speculative buy on pcl, page-6

The thing that has largely gone unnoticed in most of these broker/research reports is PCLs exposure to the Mbawa Trend.

The Mbawa Trend runs through all PCLs permits, giving it the greatest exposure to any success from the trend.

PCL/ORG targeted the trend with their 3D in L8, Apache/Ophir followed up with further 3D over the Mbawa trend (L8/9) and BG performed their 3D in over the trend as well (L10A/B).

If one had to hazard a guess, Anadarko/Total 3D is probably bordering PCL permits to target structures with potential to host hydrocarbons through migration from the trend.

The big boys are investing in an idea, an opportunity, that has been progressed and developed for 10 years by PCL.

At the same time PCL will suffer heavily from a failure at Mbawa-1. The whole value of the company is being built around the Mbawa trend.

Q3 2012 - ITS GAME TIME!