i expect that the data room opening ann would be bad news all round - if PCL BOD had plan B in place, the phone calls made over the last 2 months if not 12 months would be such that no data room is needed - direct talking to those interested, and whilst seismic data review will still be needed by incoming partner , it would be the terms being sorted/negotiated. AND again the bloody timeline agreed to must be tight - if due diligence - 3 months max to review seismic. i just cannot see any newbie just saying ok and proceeding with an agreed drill spot and then go find a rig.
PCL Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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