When you check the Africa Oil and Eco Atlantic Oil and Gas press...

When you check the Africa Oil and Eco Atlantic Oil and Gas press releases about their deal you see that Pancontinental is currently cheap

The block 3b/4b in the Orange Basin on the South African side is just an exploration block without any exploration well. They have mapped some very promising prospects and leads, thats it.

Recently Aoi and Eco swaped their shares in this block and you could calculate that AOI paid roughly $8 million USD for 1% of 3b/4b, that may hold 4 billion barrels in deep water. the Saturn got perhaps 40 billion bbl oil in place that means Pcl should get 80 million $ for one percent of Saturn. Pcl got 20% of Saturn that means , today Pcl should have a market cap of 160 million US$ whereas pcl got just a market cap of 83 million US$ (122 million Australian $). With these assumptions the share price should and could be 100% higher.

Perhaps you could argue about the 40 billion bbl in Saturn, but nobody knows if there are 4 billion bbl in 3b/4b or not as well.


In Jan 2024:
Pancontinental Executive Director, Barry Rushworth commented "While patience is required with
regards to the significant 3D seismic interpretation and modelling effort, and also establishment of the
long stop date, the prolific Namibian Orange Basin continues to deliver and I believe Pancontinental
continues to be exceedingly well placed for an exciting 2024 and beyond."
Well, till now 2024 was not so exciting.

Of course the more the Saturn is derisked the higher the value respectively price of Saturn. I hope Pcl does not accept an early premature low price offer.