Ann: Trading Halt, page-17

I will be very upset if they sell Namibian assets for less than USD1m per percent. If they need cash, do a rights issue. I brought in for Namibian exposure free carried, not US gas with a paying interest.
With that said, it is great that this has paid off. But ultimately its 10% stake is worth $100m tops to PCL (1TCF x $1 per bcf x 10%). Very nice if it happens, but a fraction of Namibian potential (500m barrels x 30% x $10/bbl, or $1.5b). Of course, if the follow up areas in Cali pay off you can multiply the $100m....
The good news is that ONGC was willing to pay perhaps half the drill costs for 30%. If that is a USD50m well, or USD25m, so a free carried 15% should be worth USD12.5m. I could live with that.
Good problem to have at least.