Hi Phx, appreciate your thoughts. My simple answer to your question is - I don't know. It's easy to make the assumption that more newsflow, expectation setting, and certainty will create upward pressure on valuations - but nobody really knows. One thing I can tell you, is if we methodically execute on our plan (farm-in happens, permitting approval happens, drill scheduling happens); then yes there will be considerable value created (but keep in mind, you're investing in a speculative small cap).
Regarding my timeframes post, unlike Galp, Total or Shell; Pancon back in 2017 when it was first awarded this license (87), did not have the financial firepower to execute itself. Hence the Woodside option (whereas other majors just got on with business themselves). Being a minnow, in the Orange Basin we are at the mercy (and timeframe/schedule) of the big boys (as Alexei ii, points out) - in this case WDS. The big positive is 'if' this farm-in occurs; Pancon is in the box-seat, and has significant re-valuation torque. We also have $35m usd worth of processed 3D seismic; which will no doubt be enough to lure another Major for a drill (should WDS decide to opt out). Given the way Mopane is shaping up on-trend, and directly south of us, I'm confident we will get a drill (one way or another).
As others have said - hurry up, and wait. You're sitting pretty. Patience.
PCL Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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