Pancontinental seems to have greater leverage than Bligh Oil in the Huinga 1B project. Abundant oil globules and gas up to C5 after they broke through a hard stone mantle in recent days. Estimates of 46 million barrels oil and 151 billion cubic feet of gas!
Various estimates of the value to PCL are 20c to 50c per share (discussion on OzeStock).
There are only 24 million shares issued, whereas BLO have 196 million shares issued. PCL have 27.5% of the equity in the project that BLO have, so technically the value per share compared to BLO is 196/24*.275 which is a multiple of 2.24 and PCL are only trading around 4c.
Huinga 1B
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Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $177.4M | |||
| Open | High | Low | Value | Volume |
| 2.3¢ | 2.4¢ | 2.1¢ | $519.3K | 23.23M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 11530015 | 2.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.2¢ | 4733651 | 4 |
View Market Depth
| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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Last
2.2¢ |
Change
0.000 ( 6.52 %) |
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| Open | High | Low | Volume | ||
| 2.3¢ | 2.3¢ | 2.1¢ | 11351793 | ||
| Last updated 15.44pm 08/05/2024 ? | |||||
| PCL (ASX) Chart |