PCL now have 25% of L10B
I did not know PTTEP had also pulled out along with Premier?
This is really good to acquire another 10% for free.
Yes PCL can sell down some assets.
L6 - will reduce to 16% from 40% offshore (consistent with the onshore Milio farm out) & will be free carried on at least one well & receive CASH backcosts.
L10A - could sell 10% to FAR or anyone else for CASH
L10B - could sell 10% or 15% for CASH or a free carried deal for drill next well (Crombec?)
And should they actually do a CR at some point - so what? The share price comes down to meet the CR price ( as FAR's did recently) & I will buy some more stock!
As for PCL overtaking FAR's market cap? - not any time soon but fortunately I don't live in Sydney to witness the slim chance of Aquamale running naked thru the CBD!!
1c Monday.., page-13
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Mkt cap ! $121.9M | |||
| Open | High | Low | Value | Volume |
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| 25 | 8102178 | 1.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
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