Nothing unexpected (from what I can see). It does appear final processed dataset is a few months away ("Receipt of a final processed dataset will require a further few months, from which time Woodside will have up to 180 days to exercise its option to enter into a Farmout Agreement") - maybe we'll get an update between now & then, who knows.
I do like that Minister of mines & energy is offering a second one year extension ("In addition to the requested extension, the Minister has exempted an otherwise obligatory 50% relinquishment of the licence area of PEL 87, leaving the area at 10,970 sq km, until the expiry of the extended term.") - but 'playing devils advocate', could this mean hedging our bets in case WDS does not farm in?
I'd expect we might be in for a rough 5-6 weeks (a bit like what we experienced this week). Patience is the name of the game.
PCL Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
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