Thanks OG for your immediate thoughts. I'm still digesting it all. I'd be curious when you say you were '..hoping for more..', what type of information were you expecting/hoping to see?
My main takeaways (thus far) are: - They are derisking significantly (ie, QI shows hydrocarbon fluid effects, support for quality reservior system, modelling indicating greater than 20bb generative capacity, which if saturn complex is capable of holding this level of volume is fantastic. - They are going to release a revised prospective resources and GCOS estimate in late July 2025 (next catalyst). Which given the announcement, I'd also expect we'll see a significant improvement in figures. - No mention of farm-in - but given this is a technical update, I would not expect it. The farm-in progress is really the key 'business driver' that is needed here for valuation re-rate (as it gives certainty of a path forward) - but I'm sure it's coming (i'd also expect late july/aug with this - which brings us to the 4-5month mark - but my opinion only). We've very clearly (apparently) got the technical goods.
Interesting times.
PCL Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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