The US$35million was for 5000sqkms of 3D seismic or US$7Million per sqkm. WDS extended the 3D seismic to over 6500sqkms or approximately US$11million more so makes their cost closer to US$50million. I might be being pedantic but that is a 33% increase in size and associated cost. Yes WDS walked away ... much to our/my disappointment but the value of the material holds IMHO and I will be disappointed if we only end up with 2 free drills and 20% even if there is cash associated ... especially if the analysis of the data that we are waiting on indicates a resource greater than 20Billion Barrels. Saturn is Geologically bigger than either Mopane or Venus and is on the east side of the outer high.
PCL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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