Sooner or later, we will all come to realise Woodsides exit was the 2nd best thing that could have happened to Pancontinental, post stumbling on this golden opportunty.
This ride has been a bit like an adventure novel. Racing against time with a dream of a monster discovery. For each milestone, the next step crypticaly unfolding.
Forget about SP for a moment and wonder how 3D materialised per permit requirement, whilst maintaining 75%.
We have even had ample time to disect Saturn. Turns out we could have a monster of 17 billion barrels.
Although leads appear independent, in close proximity, we could potentially tap multiple reservoirs over 1 drillbit.
17 billion is > than neighbor Galp @ 10 -14 billion
A couple of months short of a year to score a quality partner to reap the full potential of Saturn, similar in drive to Shell, Total and Galp is what we need.
Rather than 1 dry hole (like Chevron), eroded to 10% then 1.5%,
Game Over PCL
We start fresh.
Here my thought process. If my other option is to work until 67, i am absolutely topping up at bargain basement prices like today, tomorrow etc as potential upside here is insane. ( sold my WES and topped 3 x today)
Especially now that the roadmap for PCL is very much clear with only a couple of boxes left to tick.
If BOD dont stuff this bit up, we can surely strike a multiple drill campaign and maintain more than 20% flesh in the game.
Isnt that a better than 1 drill at 20%, another at 10%. (And or errr 1.5% overriding royalty?)
We are extemely fortunate to have come this far, to realise we were early movers in a basin everyone is now talking about.
Surrounded by O&G giants and other Giants watching envy, the only question remaining is, how long will a minnow, in posession of the only realestate in the Orange Basin, without a super major last before it is snapped up.
Surely not 10 months. Weeks? Week? Days maybe.
Equally relieved i will never again see .....'woodside have an option to...'spiel
Add the painful delays. 2 years and code of silence. Wont miss that either.
Investors can cry or bail because woodside did but thank heavens they left the building.
Some can believe our goods are defective but thats your perogative. Its your money, your investment. Quit whining and get out.
As for COS or chance of success, Oldgeo has already clarified that we are on the higher end and 30% is usually around max
Management? Agree they could be sharper and they too know that, hence Iian was hired (post erronous WDS agreement *important). Iian apparently, has made his share of mistakes, and hands have been tied until termination of Woodside agreement but this is where he shines.
The last thing a director wants to lose is credibility or he goes out of business.
Having watched PCL webinars multiple time, I believe Iian has the potential to maximise shareholder value on what could be a once in a lifetime opportunity even for him.
Let the wealth creation finaly begin
Only my views ofc and no director or affiliate was present, torturing, bribing, influencing whilst preparing this post.
Apologies if i sound like a broken record
Expand
(20min delay)