Significant prospectivity has been identified by the high quality 6,593 km2 3D seismic dataset that was fully funded by Woodside. Subsequent interpretation and evaluation has returned an inventory of intra-Saturn leads and prospects which are estimated to be consistent in size and scale to the discoveries made to date in the Orange Basin. Pancontinental, together with the Joint Venture partners, is continuing to mature and refine a growing inventory on PEL 87.
If this is indeed the case then there must be other reasons that WDS has walked away. Lets hope that the release of the PCL announcement indicates that they are negotiating with another super major.
PCL Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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