PCL 0.00% 2.4¢ pancontinental energy nl

Potter, while we continue to wait for some action from Woodside,...

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    Potter, while we continue to wait for some action from Woodside, I attach some light conspiracy reading from our Canadian counterparts on the CEO Sintana stock thread;

    @stocksluice I think Woodside might take up Pancontinental's option more quickly that most suspect. If my read on that company as a "woke joke" is correct (check out their website if you think I'm kidding https://www.woodside.com/), they will not want the "bad" press from operating in Namibia, rather, I think they will prefer to farm out the lion's share of their 56% to another operator and sit in the background to collect whatever money may or may not start rolling in at a future date. They don't strike me as a serious exploration company (see if you can find more than a single paltry paragraph on their interests in Namibia and PEL 87). Like many companies and institutions these days, their transition to "wokeness" probably really just took root fairly recently and perhaps after they were already committed to that ~$40MM 3D seismic survey. So, donning my "wokester" mindset, I'll want that money back as well as retreating into the background, away from any bad press or stigma that might further (and quite wrongfully, imho) be associated with "unsustainability," "neocolonialism," or who knows what. Accordingly, I'll exercise the option asap, find a major interested in the area, like Chevron, Shell, or Total, and offer them 31-46% of the 56% interest for 1) their money back on the seismic, 2) perhaps a commitment to a drilling program of a certain magnitude within a certain timeframe, and 3) a free ride to production and/or a percentage royalty agreement. And because production is now what appears to be the name of their game w.r.t. O&G, they will likely want someone farming in who will commit to getting there sooner rather than later. Maybe Exxon? Stir things up a bit? In any case, if my read of Woodside is correct or even just close to the mark, that strikes me as the best possible outcome for Sintana for that PEL. Note, none of the above is to take anything away from whatever remains of Woodside's exploration staff. I'd bet that they are every bit as jazzed about the Saturn turbidite complex as Pancontinental is
 
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