Whether sooner or later, if you are consiering selling, just make sure you understand the magnitude of potential here. Should we make a discovery, for every billion barrels we uncover, PCL's share price will value at around 12.5 cents. Thats at $5 per barrel. If 2d estimates are already in excess of 10 billion and 3d concludie the same, well ill let you do the math.
i do enjoy speculating but if reserves are close to accurate, the rest is math.
1 bill barrels x $5 = 5 bill x 20% = 1 bill ÷ 8 bill shares = 12.5 cents
happy to be corrected
General Thoughts, page-166
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