I have been thinking about the allocation of options to Iain and what that might mean. 3.5 to 4 cents per share will give us a market capital of aprox $300 to $350 million. That is not that far from the MC of 88E and other penny dreadful companies at the point of drilling. So IMHO that is not an unachievable outcome and is nearly a doubling of the current share price. If that takes 12 months to achieve then that is still a good return on an investment. If however, the results of the 3D seismic is much more exciting, then I expect that this share price will be exceeded. This is what I think that this message is telling us. If the allocation of options was issued with a conversion price of 2 cents, then I would conclude that the 3D seismic was not all that exciting ..... but when it is 3.5 cents ...... I'm watching this closely and many thanks to all the technical contributors to these threads ... I read everything. GLTAH.
PCL Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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