The number of wells will, IMHO, depend on what the 3D seismic tells us. If it looks wonderful, I think we will be staring down a 5 well program. The Namibian Government indicated at the energy conference that they want the development of the resources to be expedited not mothballed and time wasted. The suggestion that after the first well, that PCL maybe able to sell some of it's percentage to another major for a lot of money and then continue within the Joint Venture is food for thought, but I think it will depend on the contract that has been originally signed with WDS. I don't think that WDS will give away BBO without a fight and that could get legally expensive and cause significant delays which would not be welcomed by the Namibian Government.
PCL Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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