Corp Presentation - August 2015, page-10

These guys have nothing left. They have had to abandon most if their acreage and can only afford to hold the ones that they might get free carried only. They used to talk up all their acreage only to walk away from most of it due no cash. They are talking up the remainder but are not holding them out of choice but only because they might get free carried if someone eventually drills - this is highly unlikely at present as everyone is trying to conserve cash and survive. PCL will need cash soon or they will be history. If they get cash it will be HIGHLY dilutive anyway so I'm not sure I see any future for these guys.