General Thoughts, page-40

You'll have no arguments from me in regards to pcl being an excellent investment at the moment.

My comments were just directed specifically to management being no better or worse than the average.

I don't need to remind the longer term holders how often the company teetered at the edge waiting for an extension or a signed contract well past expiry.

I could easily argue our farm out efforts were average and if they could have wrangled just a few million extra for the cash component the CR would have been unnecessary (a fact that probably would have made participants unhappy)

So my personal rating of management is a firm average.

But I also believe that their abilities won't be tested again until a discovery is made so this doesn't worry me the slightest. Luck has shined with the Shell and Total discoveries and that will rub onto us