One thing for sure, PCL are getting much better at producing presentations than a couple of years back!
A question for all posters. See italicised section below. I read this that the current JV (which currently does not include Woodside), needs to make a commitment to drilling next year in January, to satisfy an extension to the licence. Woodside, however, does not need to make any decision until up to 180 days after final delivery of 3D PSDM results. These final results could be presented to PCL by as late as March meaning, based on a 180 day timetable, a decision by Woodside may not be known until August/September 2024! Is that other posters reading of this?
Direct 1
Q4 CY23: JV Decision to enter next Permit Year from January 2024 (requiring a commitment well)
Q4CY23 through Q1CY24: 3D PSDM results/interpretation/prospects & leads/prospective resource certification
180 days from delivery of final 3D PSDM for Woodside decision on exercise of option
Woodside will then assume operatorship and fully fund the drilling of an exploration well (PCL @ 20% carried interest)
PCL Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
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(20min delay)