"At the date of this report we are working diligently to secure the grant of a seismic licence from the Namibian authorities, the purpose of which is to provide Woodside with ongoing rights to utilise the newly acquired 3D seismic data that is derived from the survey which Woodside funded. This is a requirement under our Option Deed with Woodside, and granting of the license will establish the long stop date by which Woodside must exercise its option to farmin to PEL 87 by committing to drill an exploration well. The long stop date will be 180 days from the date upon which the seismic licence is granted."
What does "working diligently" actually entail?
What happens if NAMCOR does not grant use and therefore Option Deed requirements are not satisfied?
What measures are being taken to satisfy the licence requirements (have a well drilled by Jan 2026) if WDS Option Deed requirements are not satisfied?
This report does not answer some of the most important questions imo.
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)