I agree that WDS is able to fund 2-3 wells, but , if the first...

I agree that WDS is able to fund 2-3 wells, but , if the first is a dud, what then for PCL? They would need to find funds for the next two. Like you and most on HC I'm hoping for a bullseye on the first well. My scheme carries PCL for 3 wells . It depends on WDS ambitions and they might not want to reduce their interest. If the first well is successful the sky's the limit for all concerned. The safer option for WDS would be to transfer the risk to a major! Too many here are running with the 40 billion figure, but the drill bit is the final arbiter. All the best and hope for all that the first well is a gusher.