This bit "pursuing a farm-out with a major that have deepwater operational capability with a commensurate balance sheet, and the Company is encouraged by the strong level of interest received from a combination of supermajors, large independents and national oil companies" suggest to me that they are in a position to pick and choose from more than one. A bit of a change from the WDS days.
And this bit "Wouldn't be commencing this if not confident of an upcoming farmout."
is a bit of a hint that a farm out is inevitable and discussion must be progressing.
Hopefully with more than one party so a bidding war could be in the works.
PCL Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
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