First one is probably the obvious one - PCL will seek an extension on the basis that they have Woodside lined up. These dates are known already - so possibly they have made an application for extension already.
Second one - Woodside have the risk of losing their option to farm in if PCL lose their contract/lease. Do they decide earlier or make a deal with the Government?
Third one - PCL can't afford to lose their lease - they could commit and get their time extended. They need to show progress at that point or they could get hit with a penalty. If 3D is looking good - they can do this, wait for the Woodside deadline knowing that if Woodside pulls out they can probably get someone else in to commit.
PCL Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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