General Thoughts, page-9062

Australian junior Pancontinental Energy is in advanced discussions with global energy giants and other industry players to secure partners for its promising Petroleum Exploration Licence 87 (PEL 87) in Namibia’s Orange Basin.

What this para tells us is that we are at advanced stages with at least 1 major and 1 smaller O&G exploration co.
if we place value on Giant(s) and player(s), we have multipe interested parties.
Not to undermine industry professionals here but assuming we do have multiple players at the table, we hold power of negotiation and this is the multi bill Orange Basin we are talking about.
The 2D requirement is for 500km and with 3.5 mill cash and potential for cap raise if needed is certainly within our reach, should it come to that.
PCL have also been studying 3D for over 2 years, drawn up leads and commenced environmentals which will certainly make for a speedier deal and hole.
Furthermore, Sintana seem to believe that we should have a drillbit in Sarurn by 4th quarter 2025(December) how accurate, time will tell.
Remember that we currently hold 75% Pel87's Sarurn complex (the largest turbidite system in Africa) in the highly sought after basin and historical drills suggest that we are perfectly positioned for a discovery. This includes a 10 bill + discovery next door.
Unless Woodside fumbled big time, well before Mopane, Rhino and Totals estimated resource upward of 5 bill, we struck a deal for 2 wells, 1st at 20% and 2nd at 10% + 5 mill cash, 3D @ 35mill US and license renewal paid for.
Based on these points, PCL absolutely have bargaining chip.
Not including the potential of 20 billion barrels, our 3D alone is already valued at half the cost of 1st drill, thus my view is that directors will push for a more lucrative deal.
we can speculate all we like but time will tell