Ann: Woodside Enters Into Exclusive Option on Namibia PEL 87, page-188

"As it happens, Pancontinental achieved a better deal here than many or even all posters dared to dream"

Its not what I've been hearing over the last year or so. Many were claiming they were expecting a higher % retained than my estimate of between 15-25%. I was also thinking they would get higher cash and if things really good, a free 2nd drill. I was told that was a pessimistic outlook for such a hot area.

Not saying it's not a good outcome considering PCL'S circumstances but the expectations were certainly higher. Unless you are referring to some who thought there would be no deal?