At least these guys are consistent. They never fail to disappoint. In hindsight, the stock price told us all we needed to know. As more and more info was revealed to both Woodside and PCL from the review of the seismic and as the deadline approached, investors should have been amassing positions, not selling them, if projections were as rosy as we were all hoping.
I am sure the company will come out with some news pumping the potential upside revealed from the seismic and how they feel confident a supermajor will step in, but you have to wonder if this management team can pull it off.
Can anyone come up with a valid reason that Woodside declined that doesn't necessarily speak ill of the prospects for success of Pel 87?
You have to think that if another company farms in and finds a Mopane level discovery that everyone at Woodside involved in this decision will be canned. Why risk that for the cost of a few drills to prove what is or isn't there?
BUX
PCL Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)