Agree, a super major will have a crack and now that the road block is removed, I don't see why a farm-in can't be agreed over the next month or two, with at least one well completed by Jan. If WDS and PCL were sharing data with super majors as part of farm-out discussions, things could be more advanced than we think. We wait again, but I have absolute confidence that we'll have a super major partner soon enough.
As for WDS's reasoning, is all guesswork but I'd say it's a combination of things (e.g. prefer to focus on LNG, too greater portion of the global exploration budget, couldn't obtain desired terms with super major).
Short term pain today. The multi-billion barrel Saturn is 50% off. Would be very interesting to see a top 20 in a week's time.
PCL Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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