To answer the gentlemens question...PEL105 won't be drilled...

To answer the gentlemens question...PEL105 won't be drilled until Dec quarter. So this means more like next year. Secondly the "pipeline" means nothing. Try this at work..fill you pipeline with "projects" and don't deliver or deliver half of what was promised and see how long you last. Employers won't care if it's GFC2...you're gone. Next AGM will cause fireworks and heads will roll.

Long-term position: was based on PEL105 being drilled. Now is void.
Short-term: recover losses

Good luck

TW