Coldsteel, If there is a farmin deal I reckon it will likely be a staged transaction. A chunk of cash up-front (?x$m) with a "small" 3D seismic survey (say ~ 1,000sqkm). I don't believe there is enough time left on the licence to acquire a big survey, process it, and then interpret it. A big survey (say 5,000sqkm would take several months to acquire, several months to process before interpretation begins in earnest (although you can receive preliminary products from onboard-processing, which could get you started early). A smaller survey would cover one or more of the favoured closures within the Saturn fan. I'm thinking weeks to acquire, rather than months, with a couple of months to process. If PCL does not already have an Environmental Impact Assessment completed then they will have to delay acquisition until late in the year due to the seasonal weather conditions. PCL would likely have reported completion of an EIA if it had been done already, so I presume that it has not. If the survey looks good and the farminee wants to enter the next exploration term, then upon entry to the next term PCL would receive an additional chunk of cash along with carry of a well (or two). This scenario would be cutting it fine in terms of the licence expiry, so as I have mentioned before a farminee may consider renegotiating the structure of the licence obligations with the Ministry and PCL. This would would be a good outcome.
PCL Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
(20min delay)