Good memory, and interesting point. Yes, Pancon drilled Kenya block L8 in 2012 - targetting a hydrocarbon structure, which hit gas; and no commercial value of oil. It did really kickstart the entire Kenya offshore exploration however (so in that respect was a success). It is important to understand that in 2012, Pancon had 1.4B shares on Issue (soi) - we now have circa 8B. So in the leadup to the drill in 2012 you mention, approx 0.27cents in leadup for 2012 drill, equates to approx 3.7cents now. To reach 10cents+ is very possible - BUT - it will require an actual drill success and big resource estimate (as a few have discussed earlier). Chart of 2012 to now below (keeping in mind the SOI dilution) - we are sitting on the launchpad, but unlikly we'll see a volatile spike like 2012 (IMO). I'd continue to reference back to Euroz's little valuation chart (which I think is fairly bang-on estimates) - screenshot below also.
In regards to your funny Nabtrade observation - it's because instus/fundies are using a combination of hidden liquity (HL) and crosstrades with centre-point trading strategies to control the vwap (volume weighted average price). See screenshot at the end. I'd be guessing the average nabtrade platform does not allow visibility into this, and thus simply displays 0.02. Below the rather polished surface of trading/investing; there is a real murky mess of strategies that favour bigmoney and instututional investors to scalp money from retail. Best you can do is let time do it's thing (i've found). Anyway, interesting times ahead.
PCL Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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