PCL

6.25%

1.7¢ pancontinental energy nl

So you think WDS and Exxon are sleeping together i would think...

First 5046 Last

Share
Profile

Follow
Melindax71

319 Posts.

117

12/08/24

15:44

Post #: 75171293
Share

Originally posted by stocksluice: ↑

I think the chances of Woodside not taking up their option is next to absolute zero. Once they do though, I agree, there is a good chance that they will do what Galp has done, and drill a well or two on their own in order to add value prior to farming down their 56%. On the other hand they may farm down very quickly if the price is right. Here's why I'm thinking that. What follows is 100% speculative.

If I'm right in thinking Woodside may already have an informal understanding with ExxonMobil, I believe Exxon would want to get down to work sooner rather than later while the expertise they've marshalled for developing Guyana is still reasonably intact. If Woodside tries to get them to wait at least another year, I would think Exxon's interest in quickly closing out a deal with Galp would increase substantially.

PEL 83 is further along than PEL 87, carries less risk, and a better timeline. It wouldn't surprise me if Exxon were to leverage Galp against Woodside, if Woodside starts to get too cute. Let us (Exxon) take operational control of PEL 87 and assume the exploration risks now, or we close a deal with Galp to operate a derisked PEL 83. Then you (Woodside) can come talk to us later, and maybe we'll be interested at that time, or maybe we won't.

If Exxon can convince Woodside to farm down immediately and not take the route Galp has taken, then that might also put Exxon in a better negotiating position with Galp. I've no doubt Exxon wants both PEL 87 and 83. Moreover, I don't think they want to wait around for either if they can avoid it.

This upcoming conference should be very interesting.

I'd love to be a fly on the wall!

Expand

So you think WDS and Exxon are sleeping together i would think WDS has a greater chance of being bought out by Exxon than getting into bed with them.

PCL Price at posting: 1.5¢ Sentiment: Buy Disclosure: Held
5 Upvote

1 Great analysis

Reply

Top Stories

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

KAL

KalGold rolls out detailed aeromagnetic survey across Pinjin project

DEG

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

NAM

ACCC seeks Olam divestments before it can buy Namoi Cotton

ESR

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

The market's shrugged at China's stimulus measures all year. Why is this one different?

The winners & losers on market if negative gearing were gone

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

STK

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

There are more pages in this discussion • 579 more messages in this thread...

First 5046 Last

Add PCL (ASX) to my watchlist

(20min delay)
Last 1.7¢		Change 0.001(6.25%)		Mkt cap ! $138.2M

Open	High	Low	Value	Volume
1.6¢	1.7¢	1.6¢	$44.36K	2.755M

Buyers (Bids)

No.	Vol.	Price($)
2	846381	1.6¢

Sellers (Offers)

Price($)	Vol.	No.
1.7¢	4354241	7

View Market Depth

No.	Vol.	Price($)
2	846381	0.016
12	7761523	0.015
12	9568039	0.014
16	5774230	0.013
8	5891666	0.012

Price($)	Vol.	No.
0.017	4354241	7
0.018	4831406	5
0.019	3187631	5
0.020	4172224	7
0.021	1650000	4

Last trade - 15.59pm 27/09/2024 (20 minute delay)

PCL (ASX) Chart

So you think WDS and Exxon are sleeping together i would think...

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

KalGold rolls out detailed aeromagnetic survey across Pinjin project

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

ACCC seeks Olam divestments before it can buy Namoi Cotton

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

The market's shrugged at China's stimulus measures all year. Why is this one different?

The winners & losers on market if negative gearing were gone

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

So you think WDS and Exxon are sleeping together i would think...

Top Stories

Week 39 Wrap: What HotCopper’s watching; China’s new stimmy moves boost metals; Oz CPI drop

KalGold rolls out detailed aeromagnetic survey across Pinjin project

HotCopper users muse on De Grey's denial of Agnico Eagle takeover bid – but who are Agnico?

ACCC seeks Olam divestments before it can buy Namoi Cotton

Estrella first foreign entity to win tenements in Timor-Leste under new laws ahead of 2025 tenders

The market's shrugged at China's stimulus measures all year. Why is this one different?

The winners & losers on market if negative gearing were gone

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

5.6g/t gold intercept at Serbia's Rogozna supports Strickland's hopes for high-grade core

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News