Good riddance to them and shame on them for stringing along PCL for so long. They were overstretched and the reality is they are small fry in the scheme of things.To an extent, I feel Aussie patriotism has blinded investors to how irrelevant this company truely is. Being a part of this industry it does not surprise me that this is how the situation has played out. The reality is we have a sizeable asset that needs to be drilled. Even though it is a wild cat there are no real while cats anymore - offset data (albeit limited) confirms what is in the area. The global geo political does not help the situation but on the plus side there are many rigs ready and waiting for a contract to drill. Things will work out soon enough we just need a little more patience.
PCL Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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