General Thoughts, page-4887

My response was about WDS trying to sell a % of PEL87 so they did not have to incur any expenditure and would be free caried for 2-3 wells.
Nothing WDS does will free carriy PCL for 2-3 wells.
From what we know about the agreement WDS farming out any % of their commitments would not change PCL's commitments to funding further wells. Your free carry of two - three wells for WDS would be exactly that - free carry for WDS not PCL.
If, and I strongly believe they are not even considering it, WDS was looking at selling any % of PEL87 before drilling it themselves, WDS couldn't give a rats arse on how it affects PCL - why would they?
Basically, WDS care about WDS not PCL.
They have no reason to care about PCL and you could even argue a dud first well would give them an opportunity to buy some % of PCL cheaply.
IMO that is a strong reason PCL has done its own 3D analysis so that it is not relying on WDS and can have an input to where the first well is drilled.
Honestly, do you really think that WDS would sell 30% or any % of PEL87 so that PCL can get free carried for three wells.
Nothing stops PCL from farming out a further % of PEL87, but that has nothing to do with WDS either.