Well the wind has certainly been taken out of the global economies sails - and unfortunate timing for all of this to come to a head almost simultaneously with little pancon. Chart wise we are testing deeply oversold levels on the weekly (- as you'd probably expect from these vicious few weeks). We are now technically valued at less than before the venus 1x, shell, Cheveron, Galp and Rhino discoveries; despite having a 35M USD 'free' seismic sitting on our desk (which is wild). Assuming the tariffs don't throw too much turmoil towards Total & Galp, then we also have two possible FID's inbound over next 12 months or so (which will create real certainty for the Orange basin). Pancon could not really be in much better position from a business perspective (imo) - get that farm-in, and all these uncertanties disappear. Mind-bending stuff. Such is the life of an O&G speculator.
PCL Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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