Ok I'm fairly tired of seeing these sensationalist comments about WDS "playing games" with PCL and other conspiracies.
The application for WDS to get access to the Seismic licence is sitting with NAMCOR for signing (the Namibian national oil company that holds a 10% interest) as we have been told multiple times by Iain.
Yes, it's taking forever. Yes, it's annoying. No, it is not Woodside's fault. NAMCOR's entire board changed from 1 July and they're playing catch up, on top of this usually not being important for most companies to receive ASAP, and the massive amount of activity in the area. The only reason we care about this licence being approved is because it gives WDS a specific date they need to farm in before.
As Iain has also said, WDS could opt in at any time and negate the need for this licence approval, but obviously they won't until their analysis of the seismic data is complete.
PCL is conducting a seperate analysis (with WDS sharing notes) - which is also not yet complete.
No amount of phone calls or emails to a company with less than 5 employees is going to speed up the process. They are just as frustrated with the delay as we are.
PCL Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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