PCL (ASX) Ann: Non-Executive Director Resignation MMM

Originally posted by Jebus14: ↑

ok,
here we go...

Charts:while charts are still mostly useless at this stage we can correlate certain events to price/volume moves to achieve a better understanding of buyer psychology at the time and perhaps what is keeping them around. furthermore things are beginning to play out, for example and as I will discuss further down we can begin to infer support and price direction.

long term
not really a lot to say here, most people are familiar with the last few years. wonder if many people are still holding from around may 2021?
My opinion: I feel like the blue and purple sections are mostly clean of "weak hands" appearing to have rinsed th volume at the end of the purple section therefore giving us somewhat of a clean slate leading into the red highlighted section. beyond the red appears to be accumulation and support setting (around 004 for those that may wish to exit at 008 ) lots of big buy volume at mostly above 004 towards the end which bodes incredibly well for our continuing momentum.

3 Monthly
rumour mill and hype drove prices up slightly through December these people buying in the green section this late before news typically have a quick gains mentality and may have sold some in the red section for 25-100% (which is all people see sometimes). blue section appears to be mostly accumulation being dampened with profit taking, possibly from our previous issue of securities.

there are very big buys at ever increasing averages powering an ascending triangle to open up past current support.
still early days but this is bullish.

Short term: short term, day to day is just the battle of the pips and i think will most likely climb slowly towards our next catalyst... can only wonder where we would be right now on totals news if it wasnt for the current war in the ukraine. i will spare you the daily chart.

PEL87 licensingAS FAR AS I AM CONCERNED WE HAVE OUR LICENSE! I WILL EAT MY HAT OVER THIS.

if it turns out to have not been given well lets start a class action cause that is straight up lying based on that wording.

obvious conclusion pcl currently has license for PEL87.political stability of regionI wont get into this too much as it can get quite speculative

there was another infographic to go with this but it wont let me upload it but the point of it was to show that Australia's score is 73 so Namibia is not that bad, if you are in Africa its definitely a much more favorable location than other existing profitable wells in the country

price of oilcurrently around $100us a barrel predicted to be nearer to $85by dec. I will update on this upon recieving more info.

PCL - TOTAL comparisonto finish i will briefly compare Saturn to Venus being that they are of comparable geology.
Venus- 600sq km 80ish meter thick 'core' 3000m ultra deep water + over 3000m drill depth. estimated recoverable: over 3 billion barrels

Saturn- 2400sq km 280ish meter thick 'core' 800m ~~ultra deep~~ water + TBD drill depth. estimated recoverable by some basic maths: over 12 billion barrels

SATURN IS BIGGER THAN VENUS AND PCL WILL TAKE US PAST THE MOON TO GET THERE.I have left a lot out like financials, pel 37 etc. but I am aware there is a lot more affecting us right now.

good luck to all patient holders and welcome all newcomers
- Mr C

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Great analysis @Jebus14, thanks for sharing.

I will say however, the PCL announcment does clearly state PEL87 license is subject to PCL formalising it through necessary documentation. I can't see how any legal ramifications could be enforced around misinformation (or lying) as it has been clearly stated PEL87 needs to be officially formalised.

In saying that, I would expect PCL to be giving an update in the very near future for the submission of the PEL87 documentation and the anticipated lead times. There will be a number of operators who will be very interested in this acreage now and PCL will need to be convincing that they have the means (financially & capability) to drill it in the near term.

All IMO.