Agree that Sintana can be viewed as a proxy play for PEL 87 and the Offshore Orange Basin players.
You can rest assured that Sintana will make sure investors in the junior offshore Orange Basin players like PCL have alternative valuations and news flow for PEL 87. Sintana is not backwards in coming forward in singing the praises of the Offshore Orange Basin oil and gas potential!
The following paid Sintana research note by Auctus Advisors out of the UK provides some interesting valuation metrics for PEL 87. https://cdn-ceo-ca.s3.amazonaws.com/1ih5eg9-SEIV_IC_19.09.23.01.pdf
I hold Sintana shares and warrants (TSX speak for options) as in the aussie vernacular get "more shakes of the sauce bottle" as Sintana have carried interests in a minimum four wells drilling with majors in the Offshore Orange Basin over the next 12 months. I also hold PCL and PCLO.
A cautionary note for Sintana- the shares and warrants by ASX standards are thinly traded relative to the volumes that are traded for PCL. Some have likened TSX shares to lobster pots "you can get in, but you cant get out!".
Mind you I have owned a few ASX junior oil and gas and mining shares in this category as well!
Risk in everything of course. DYOR And I will never advise anyone to Buy, Hold or Sell a share.
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