I really do not see any of the big players paying 5c a share at this point. I would think that the 3D analysis would first need to be completed and its results reported to the market. If an offer were to come prior to the report being made public then to me this would breach ASX rules, in other words, sharing the 3D results before letting the market know. No one would buy over 8 billion shares at 5 cents per share, in my view, unless they knew, at least with some accuracy of a plausible outcome. In addition, if PCL were to be sitting on for example 3 billion barrels with a profit margin of at least $15 per barrel, we'll say $10 profit for fun, that puts PCL profits at $2 per barrel. At 3 billion barrels of recoverable oil that would PCL worth $6 billion......So $6 billion divided by 8 billion is 0.75 cents minus 20% = $0.60 cents per share......So, of course one of the majors would offer to pay $5 cents a share, the real question is, why in the hell would PCL except it? Cheers!
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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