Agreed. If a more detailed explaination not recieved before AGM, then this is something which is certainly needed (keeping in mind, that PEL 87 is owned by a selection of partners...so I can certainly appreciate the sensitivities of disclosure here).
My correspondance with Pancon (again) 24hrs ago resulted in 'sesimic access license' approval delay being attributed to NAMCOR - so we can confirm this (as many have mentioned). All other details currently are speculation. Other things worth considering in parrallel to this are (1) Options for Salient (possible M&A or other negotiation - certainly incentive given excercise is above 0.035); (2) PCL updated website (why?? - to make it look pretty?? Expecting further investor interest?, etc); (3) Performance options at above 0.03 for management (there is clearly incentive); (4) The delay with Namcor (could other negotiations be going on? WDS patiently waiting?- they would have bailed already if there was zero promise in the prospect? - does this bode positivly? (imo - yes). ).
Assuming the 3D is good - then we have absolutly nothing to worry about, the prospects/oil is not going anywhere (it's just the timelines..).
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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