Hi rooey Top of page 2 of the 19 Jan announcement.
Whilst Pancontinental envisaged that receipt of the final PSDM data would establish the long stop date for Woodside to exercise its option to farmin to PEL 87 by committing to drill an exploration well (that date being 180 days from receipt of the final deliverables from CGG under the seismic processing contract), Pancontinental has now been advised that a remaining deliverable (truncated final migration gathers) will be received in approximately two months’ time. Accordingly, the long stop date will be 180 days from that time. Woodside does have the ability to exercise its option at any time prior to the long stop date.
PCL Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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