Ann: FAR to sell Carnarvon Basin asset , page-18

So not the issue Kenya will determine share price....PCL will determine short term share price....one in all in this region. PCL today


The Bigger Picture Offshore Kenya
The Mbawa Prospect is one of a number of prospects at different geological levels in the L8
area and the first to be drilled out of numerous prospects and leads in Pancontinental’s four
licence areas offshore Kenya (see Fig. 3).
The Mbawa gas discovery establishes the existence of a working hydrocarbon system offshore
Kenya. The source material of the gas is interpreted to be a thermally mature mixed gas and
oil-prone source and this means that oil may also have been generated at some time from the
same source rock. With the Mbawa 1 gas discovery and the proving of a working hydrocarbon
system, Pancontinental believes that the next 12-18 months will be a defining period of oil and
gas exploration offshore Kenya.
Pancontinental has participated in four 3D surveys offshore Kenyan and these have generated
numerous Prospects and Leads. Another 3D survey is planned in the L10 Blocks in November
2012.
Pancontinental is well funded for exposure to up to 4 offshore Kenya wells directly (1 well
depends on the completion of farmout in Block L6) and up to 4 wells offshore Kenya indirectly
(wells by other companies) over the coming 12-18 months