Ann: Annual Report to shareholders, page-5

Very lame language, and I suspect that chat GPT was heavily involved One paragraph of SFA, no mention of any quantifiable results, just a bleat about the Seismic License.

and as for "Pancontinental's analysis of the data thus far confirms positive indications for the presence of a mature
Kudu Shale oil source formation directly beneath the Saturn Turbidite Complex:" Is a bit like 'we also believe above the seafloor is the Atlantic Ocean' FFS was this written by the accountant !


This is very concerning....

In parallel with the AVO study, now that key regional geological horizons have been mapped and are
available, the Company is undertaking a basin modelling study, the aim of which is delineate
hydrocarbon source kitchens and hydrocarbon charge mechanisms. While these studies and other
technical work must be completed before individual prospects can be fully characterised, the Company
remains confident in the hydrocarbon potential of PEL 87"

Perhaps the GALP discoveries and others mean this study is almost as useful as having to prove that a heavy drill ship can float before committing to a well. This could have, and probably was done on the 2D seismic.


PCL seems to be like a respite centre for ageing wannabe explorers sitting recliner couches holding some of the best acreage in Africa.
They are just staring at the wall waiting for the grim reaper to walk in.

Why the hell was the full ramifications of the OPTION DEED not made clear from the get go???? The 180 days was originally 'from the receipt of the final data' This is one of the most opaque companies I have been a shareholder of, and read the crap in the annual report reinforces my thoughts. the board needs a big shakeup. No No and No and would certainly support a spill motion.