"As reported by the Company on 30 April 2024, the long stop date by which Woodside Energy must exercise its option to farmin to PEL 87 (by committing to drill an exploration well) will be 180 days from the date upon which the PEL 87 Joint Venture provides Woodside with a license (Seismic License) to hold ongoing rights to the PEL 87 3D seismic data. "
From my understanding of what I spoke with Iain about this Seismic License allows them ongoing access to the data they already have, once they farm in they become part of our JV and as such will have rights to hold the data indefinitely, rather than at the moment they are just viewing the data and if decide to not farm-in will have to relinquish/delete that data.
PCL Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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