My speculation for delays in woodside farmin is hard hit on revenue post green push, thus primary focus has become to secure new streams of income. Not long ago, divs were paying around 11% and now @ 7% ish after 37% ish decrease in sp. Surely any sensible company would factor that any cash invested in Namibia is not going to generate cashflow for sometime. They also look to have borrowed quite abit during restructure with 700 mill in kitty. Perhaps thats why they want seismic license and exxon at the party to share financial burden of drilling our very own 87 None of the above makes our opportunity in PCL any less attractive but may be logical explanation in delays
PCL Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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