It has never made sense to me for WDS to bring in a partner until after they have drilled at least two wells. WDS were very lucky getting the option when they did and there is a very large upside in the value of PEL87 if they have a successful well. They have always had the money, to at least drill the first two wells, without financial support from anyone else. I am certain they will bring in a supermajor as a partner at some stage but it's too early now.
PCL Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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