I read those same reports and SP projections a few years back re W-1 & H1b in NZ - a lot less shares on issue then as well.
Unfortunately as per the slim odds which are part of the oil/gas exploration 'game' - they are just brokers projections. You can have all the Seismic you like including 3D but if the HC have not been fully caught in the trap - its all academic. Where would Hardman be now if Ching had been a duster? How much drilling has actually been completed offshore Kenya?? I don't know the answer but pose the question??
If for whatever reason WPL decide not to drill right away - one thing I can tell you is that PCL's SP will not be in double figures!
Also regarding Andy Svalbe - he is the chap that 'informed' the Press in NZ that H1b was a $1bn 'discovery'. And Kennedy told shareholders in the Annual Report that H1 was the 'reluctant debutante' maga oil discovery. But some things of course don't quite turn out the way we would like.
Just adding a bit of 'history' to proceedings.
PCL Price at posting:
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