Well, the rest of the article talks mostly about 88E, however there was an extra snippet regarding the farm-in:
"Expectations are that this decision could come as soon as June or July. If Woodside chooses to farm-in, it will be obliged to drill an exploration well, which it will fully fund. PanContinental CEO Iain Smith has estimated the cost of such a commitment at US$55 million to US$65 million, which perhaps explains Woodside's careful approach to ticking the technical boxes and getting certainty around the wells, before it fires the starting gun."
The June/July timing is consistent with what others have heard and posted here. Furthermore, some are getting caught up in the long stop date, which as I've noted before is irrelevant imo. Anns would suggest this also - "Pancontinental notes that Woodside does have the ability to exercise its option at any time prior to the long stop date." Therefore, I do believe June/July is when the 'starting gun' is fired. We've waited and are almost there, with ~4-5c SP upon farm-in imo - not a bad gain for 1-2 months' wait.
PCL Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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