From the latest announcement 3 weeks ago, it sounds to me like extension negotions have already been discussed. Pancontinental is providing "initial interpretation" of the 3d results before they release the full data set in a couple months.
"The current Initial Exploration Period now ends on 23 January 2024.
After the current period, two additional periods totalling four years are available, with possible additional extensions if granted. The current Petroleum Exploration Licence (PEL) can be converted to a Production Licence under pre-agreed terms.
In addition to the requested extension, the Minister has exempted an otherwise obligatory 50% relinquishment of the licence area of PEL 87, leaving the area at 10,970 sq km, until the expiry of the extended term."
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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