Potter, you make some very good points there; "I think that WDS is deliberately keeping their head down so as not to trigger a plethora of protests from the green movement and this current Federal government who may impose additional imposts upon the company when they are trying to gain extensions to Australian leases especially if they take the view that they are being climate vandals by exploring for more Oil and Gas offshore Africa." I have been scratching my head on why WDS has been delaying their move into the Orange Basin. There are no nearby drills pending and the Orange basin hype is ebbing away (witness the erosion in Sintana share price - Sintana is in effect an indicator for the orange basin as a whole). The majors (total, Shell, Galp) are defining their projects and staking their money and so the list of remaining possible bidders for a WDS JV are diminishing. All-in-all the WDS Namibia position is less attractive than a few months ago.
Your thoughts have given me a new perspective - maybe WDS is waiting for the aus election announcement and election frenzy to mask their drilling move. They might also be hoping for a more gas-friendly Liberal government.
PCL Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
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