We cannot change the situation we are in and we need to have trust in the data that the 3D seismic has revealed and been verified both from the analysis that Shareholders like Oldgeo and others and that which has been released by the company.
It gives me significant confidence that PEL87 will be a significant hydrocarbon field going forward and that Management of PCL will find another partner to take up the place left by WDS.
I don't think that WDS walking away is a result of the lack of Hydrocarbons but more a structural and economic fit for their company.
I would hope that PCL are talking to more than one potential suitor to maximise the deal for us.
I am hopeful that they will be able to structure a better deal and as others have pointed out and a more robust contract.
I am also of the opinion that getting the extension will be achievable if required.
The news that Total and potentially Galp are pressing forward with the development of their discoveries will not be lost on the Oil and Gas world and I am of the opinion that other major companies who currently don't have acreage in the Orange basin will be wanting to evaluate this opportunity.
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