So true! I agree with Pottermote that no major will move on PCL until exploration success achieved. The large companies and super fund investors tend to be a lot more risk averse than red blooded retail investors and operate on the principle "Know more, pay more".
As an aside, if I was WDS, I would be looking at buying out Custos (includes Sintana) so get into a known oil discovery in the adjacent permit, plus gain technical information to improve chance of exploration success in Saturn block, plus in event the Saturn play does not meet expectations, WDS is still involved in possible multi billion bbl discovery with follow up plays. Such a strategy would ensure WDS foray into Offshore Namibia is not a total bust.
Agree that the Chinese national oil companies might also be another player in a PCL buyout in the event of exploration success at Saturn, although of the national oil companies, I favour Qatar as more likely player for PCL and Custos.
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