So assuming WDS confirm and proceed to drill a 500M barrel prospect, then find an oil column that suggests a commercial find.
PCL will reduce to 10% PEL 87 for WDS to free carry PCL on an appraisal well.
That's 50M barrels to PCL.
In ground oil US$9 per barrel valuation?
That's AUD$14 × 50M barrels = AUD$700 mil market cap.
That's a 5 bagger from here.
That's why I believe PCL MC any higher at this stage makes the risk/reward proposition less attractive.
So assuming WDS confirm and proceed to drill a 500M barrel...
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Last
1.2¢ |
Change
0.001(4.55%) |
Mkt cap ! $93.72M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.2¢ | 1.0¢ | $57.92K | 5.282M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1096517 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 6194756 | 13 |
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| Last trade - 15.55pm 25/07/2025 (20 minute delay) ? |
| PCL (ASX) Chart |