Heres a rough calculation based on 10 bill potential reserve. 10 bill barrels @ $1 = 10 bill x 20% = 2 bill. A T/O offer @ 10 cents will cost 850 mill or 42 cents a barrell, a portion or if not all of which is funded by new partner for a slice of the 75% Bet Total, Shell and Galp have or will surpassed this figure in drilling costs alone. Based on the size of Saturns reservoir fan however, i am still betting woodside are eyeing a much larger potential resource and will be wrapped if they can snag our 20% at such a huge discount and replace us with a partner who is cashed up. no doubt Iian too would be happy with his 40m oppies @3.5 cents or 2.6 mill AU The question is, what would holders do if this story similar to this one played out.
PCL Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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