Whilst I am not disappointed with the size of the prospective resources I was expecting bigger numbers based on the size of the Saturn closure. I am still happy to hold as the upside in the share price is still excellent if we hit oil. I don't believe that the prospects of discovering a commercial resource have diminished. However, I suspect that it was more of a decision for WDS that they believe the size of the prize was not tempting enough given their policy of minimising exploration expenditure.
PCL Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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