PCL 0.00% 1.9¢ pancontinental energy nl

drilled to 2850 only- industry answer , page-11

  1. 774 Posts.
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    Stocks like PCL are out of favour with the market due to the risk of drilling and the number of dusters drilled in the last 12 months

    FAR will benefit from oil shows at sunbird regardless if it is commercial or not as it proves oil is possible off Kenya, at no cost to FAR

    FAR has been more positive about Sunbird than PCL, this may be due to the agreement that they have with BG being no information released until testing completed.

    FAR has two free carry wells in the next six months and plenty of cash, these two wells are game changers

    There maybe large cost overruns on Sunbird, IMHO I do not believe this to be the case as they budgeted 60 days hitting TD of 3000m about 15/03/14. They only drilled 2850m, therefore the current time frame would be in the budgeted time, testing should be completed soon. If they have found oil they could not do a flow test as the DSM-1 is not equipped for it, hence they planned to plug and abandon.

    Once we see the oil slick hitting Perth beachs then the stock will be re-rated as the current news is not enough to get and keep the attention of the goldfish(short memories) in the market.

    I hold both FAR over 10 years and PCL 4 years, do not take the above as advise as it is my opinion only and you would have a better chance at lotto compared to taken the above as fact.

    I believe we bet to get, and if in trouble bet double, if you have the cash that's why I have been in so long on both

    Good luck we need it.

 
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