I think Woodside could be more agile. Woodside act and work slowly like one of this big national oil companies in the Middle East. Even Shell is acting faster in Nambia compared to Woodside. I think it would have been better for PCL if TOTAL or Shell become operator and not Woodside.
Yes, I know I am a little bit impatient. But it is no good idea to have an approach like: if we do not drill today, no problem then we can drill tomorrow. Yes it is true. We will not lose any potential oil production because the oil will not be gone. But PCL and Woodside will lose money the more they shift this project into the future. Especially when you have an proven oil prone basin as the Orange Basin with realy big reservoirs and where the code is cracked how to identify these turbidite reservoirs full of black gold (light oil or condenstae which has a higher value can have the color of honey). Hopefully the Namibians kick Woodside more often and hard to put this project on the fast forward list with the highest priority.
PCL Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
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