All extremely valid points to protect capital. Conviction is one thing, but you can't go broke taking profits or protecting your capital.
I bagged on this & regrettably sold early. I am back in to take a punt on a proven world class oil reserve. I suspect impatience & fear will kick in soon enough on no news and the sp will drop (all too common). I am keeping some spare change to be ready if this happens. It bodes well that Exonn, Total & Shell all have tenements literally right next to PCL's. They have a proven oil resource. The area is red hot atm with so much interest so I am hoping things are happening quicker than usual (wishful thinking). A few worrying points; PCL only have 2 quarters left of funding available (641k) - so I dare say if nothing is sorted within the next few months a cap raise will be on the cards. License expiry dates - there has been no clear news on the Licensing of PEL37 & PEL87 (that I'm aware of?). PEL37 still pending ministerial approval & extension according to the last Half Yearly?
I am taking a punt on the PEL87 tenement. Hustler previously mentioned, PCL has 75% interest in PEL87 + 4 major companies have expressed interest in a farm out agreement. Shell & Total discoveries on trend with PEL87. It's definitely not every day you get to take a punt on something like this... GLTAH
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