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3.33%

1.5¢ pancontinental energy nl

Perhaps keep price down for a cheap takeover?

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mozz18

10,979 Posts.

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22/03/24

11:05

Post #: 73009964
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Originally posted by oberte: ↑

there has been talk here that Woodside have an interest in keeping the SP down, excuse my ignorance but what is the benefit of them doing that? - per below, hasn't the cost of their option to acquire 56% already been locked-in irrespective of the current PCL SP?

Happy to be corrected/informed otherwise.

Pancontinental Orange Pty Ltd had entered into an Option Deed with Woodside Energy (GOM), Inc, a wholly owned subsidiary of
Woodside Energy Group Ltd whereby Pancontinental granted Woodside an exclusive option to acquire a 56% Participating Interest in PEL in consideration for Woodside paying for a 3D seismic survey covering an area of at least 5,000 square kilometres within the area the subject of PEL 87 at an estimated cost of US$ 35 million and also paying Pancontinental US$1.5 million. Woodside has a period of at least 180 days after the delivery of the seismic survey data to exercise that option.
If Woodside exercises the option then Woodside and Pancontinental have agreed to enter into a farmout agreement whereby Woodside will carry the existing joint venture during the drilling of the first exploration well to be drilled on the licence area after the completion of the seismic survey.

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Perhaps keep price down for a cheap takeover?

PCL Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 1.5¢		Change -0.001(3.33%)		Mkt cap ! $117.9M

Open	High	Low	Value	Volume
1.5¢	1.5¢	1.5¢	$3.974K	270.0K

Buyers (Bids)

No.	Vol.	Price($)
29	8442019	1.4¢

Sellers (Offers)

Price($)	Vol.	No.
1.5¢	5229320	9

View Market Depth

No.	Vol.	Price($)
28	7742019	0.014
13	4470041	0.013
9	6056666	0.012
6	5150000	0.011
2	250000	0.010

Price($)	Vol.	No.
0.015	3837400	6
0.016	5338227	9
0.017	4459153	8
0.018	7290630	7
0.019	4745964	8

Last trade - 13.45pm 18/10/2024 (20 minute delay)

PCL (ASX) Chart