PCL pancontinental energy nl

I think that there are a number of you who are trying to come up...

  1. 3,179 Posts.
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    I think that there are a number of you who are trying to come up with reasons to blame PCL for WDS decision to withdraw from the syndicate, should possibly take another a deep breath and consider that the decision was that of WDS alone.
    None of us are aware of the discussions that have taken place inside WDS to come to this decision.
    I personally doubt that it was a lack of Oil/Gas that was the deciding factor ..... as the 3D revelations show that there is significant volumes available and if the winnowing has taken place that has been mooted then the quality of the sands could be significantly more porous and much higher yielding than Total's.
    There have been comments about WDS's expenditure commitments which may well be accurate considering the massive projects they are finalizing and with a commitment to maintaining their dividend yield.
    The other point which has not been discussed is maybe WDS wanted a better deal from the Namibian Government in relation to Royalty Payments and Taxation and were refused.
    Remember back before the seismic licence was issued WDS sent a team of Lawyers over to Namibia.
    For what reason I don't have the foggiest idea ...... but something wasn't to their liking.
    I don't think we will ever know the reasons but there is nothing to gain, IMHO, in beating each other up over something we cannot change.
    Better focussing on finding a new partner and watching for the signs that we are again heading to a drill date.
 
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Mkt cap ! $89.50M
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Last trade - 15.59pm 20/06/2025 (20 minute delay) ?
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