@DonnychongThanks for the super depressing post.
I have broken down your post, just so i can better understand.
Heres a quick summary
1. BOD are old, useless and have failed to communciate with SH's. (Disclosure agreement)
2. WDS have walked away because we dont have reserves worth pursuing.(best estimate 17 bill barrels in ground)
OR
BOD failed to communicate with WDS in much the same way, old and stubborn, which they will need to put aside(plz provide examples), so now we get a less attractive deal with a more aggressive major 'IF we are lucky'.(more clarity needed).
Lights out PCL??
Sorry buddy but i am not sold.
Time will tell however, but once we are past the fluff, much like any other business is a $$$ game.
If the figures work, we will have our partner sooner rather than later in the hot Orange basin. How so?
@ estimated 500 million potential recoverable barrels over Oryx and the like with Hydrax, my maths says, even with 1 discovery,
500 mill x $67 per barrel = 33.5 billion, divide 50% share(where PCL retain(25%) for farminee = 16.75 billion $$$ for 2 drills at 200 mill. That leaves upward of 16.5 bill minus production costs. Even in this petty example.
P.s that leaves 8.37 bill to PCL. Whether we are bought out at a discount is another matter.
As for permit renewal, should our major require more time, they will need to do another seismic @ 500 sq km which will cost approx 1/10 of 6553 sqr km(3.5 mill US?)
Unsure as to why your sentiment is hold and why you are still here stirring pot with negative sentiment if you think PCL will go bust.
Most investors just sell and move on.
Jibby, Oldgeo and the like,
My gratitude to you for time and research thus far.
P.s WDS SP at a 5 yr low while Meg is making every effort to mend a sinking ship.
As i have reiterated, WDS simply isnt at a stage to sink a few hundred mill into an investment that wont see production for another 5 years and grateful WDS donated 50 mill aussue 3D and walked leaving us with 2 months up our sleeve.
If any of my points and calcs are off, plz be sure to constructively slam me.
(20min delay)