Below are key points I noted from PCL's Webinar held March 20,...

Below are key points I noted from PCL's Webinar held March 20, 2024. 10 months (January 2025), what do we know........

Webinar March 20, 2024

· A very detailed and comprehensive seismic interpretation effort underway.

· In a few months’ time, we intend we will be able to provide much more detail around prospectivity we see.

· Mopane-1X, 2X – thick and good quality sandstone reservoirs (channel sands or lobes, we do not know).

· This broad Cretaceous play is becoming an AVO-related exploration play.

· Kudu Shale source oil, it is thick, laterally hugely extensive, very high TOC, clearly mature and generating oil in vast, vast quantities.

· Looking for a DHI that is conformable to some sort of depositional feature (e.g. sinuous channel or structure).

· Remain extremely encouraged for prospectivity.

· Need to interpret all the key stratigraphic horizons – 7 horizons in total.

· Corroboration of our findings with our Partners, is crucial for every step of the way, and we would not be too popular if we came out with in a couple of weeks’ time with a prospectivity map and our own prospective resources i.e. we need full JV alignment on this before any announcements can be made.

· January 19, 2024, announcement PCL announced “we will provide interim updates of the various hydrocarbon play types identified thus far when they have been matured sufficiently. Can you clarify whatthese updates are, what should investors expect? Ans = We recognise as a junior company we really need to keep the market informed. We have a goal insight to provide those final, results and prospective resources and risking. This is some months away but can not say when. But in the coming months we plan to get there.

· We remain very excited by the prospectivity.

· We hope to provide a bit more detail on each of the various plays.

· This March 2024 Webinar is the first of one of these interim updates. We will say what we can, when we can… We do not want to keep shareholders in the dark.

· Cenomanian brights being seen in erosional channels. Many of them have seismic amplitudes associated with them.

· Based on the 3D we see no suggestion of up-dip feeder channels into Saturn that could be thief zones to hydrocarbon leakage.

End January 2025 Quarterly.

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OldGeo