I think the big question now is who will takeover PCL and for how much?? WDS may have all the patience and discipline but it is run by an engineer who are by nature extremely risk averse and slow at making important decisions. The global oil price is slumping but the majors (the real ones, not a herring like WDS) must be thinking it is a close to a good time to shell out a measly $US80 mill for PCL.. Someone scolded me recently suggesting WDS disclose the strategy, risk and reward for paying for the seismic as it was just pittance... Exxon-Mobil, Shell, Marathon, Total or BP would all have enough in petty cash to get a decent chunk of PEL87 !
I would imagine PCL are well aware of this and hence the appointment of Salient to do the haggling !
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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