PEL87 Namibia
Lease Renewal. YES
3D worth 35 mill + DONE
$
Environmentals / pre drill requirmenents: WIP
$
2 years + 3D Analysis:
$
PEL 87 PROJECT PROSPECTIVE RESOURCES
In addition to Oryx and Hyrax targets, six further intra-Saturn Complex leads identified and being advanced
• All leads exhibit Class II AVO anomalies, consistent with major discoveries on-trend to the south at the Mopane Complex and Venus/Mangetti
$
• Total High Case prospective resource+ estimated at 3.8 Billion barrels of oil (net to PCL, arithmetic sum of High Cases) •
$
Total High Case oil-in-place resource estimated at 12.7 Billion barrels of oil (net to PCL, arithmetic sum of High Cases) • Farmout process underway to secure farmin partner for funding of exploration drilling
Figure below is an estimate for Pancontinantals 75%
Directors notes
AS a major, i.e Petrobas, you have been proactive in attempts to enter Orange Basin.
you notice PCL, a minnow in posession of 10,970 sq km parcel of high quality lease thats on the market for a PARTNER, maybe even a SALE and NEXT DOOR to a multi billion transaction you have submitted a bid for.
Would you wait 3 months and likely miss another opportunity?
Questions should now be:
How many Free Drills & anf How Much Cash
OR
How Much For The Lot.
AND
Noting that during the Webinar Iain mentioned they were getting calls daily.
Sadly, directors are not ashamed that our share price is 1 damn cent. Its actually a joke
I dont understand why they cant change the sign to FOR SALE OR LEASE and put it on the market for some crazy amount like 1 Billion US, and see how the market reacts.
By placing an expectation, no matter how unrealistic may also change the bar and invoke a multi well drill.
Maybe even a sale.
Cmon Pancontinental Directors. We have been painfully stuck on this ride for years all want payday and to get on with our lives.
(Also sent a copy to Pancon email )
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