General Thoughts, page-1923

Some reasonable questions there scorby and obviously uncertainty exists until we have formal 3D results and farm-in announced.

I'll comment on each point as you have presented them. Take it as you will.

• The website is irrelevant imo. WDS, NAMCOR and PCL share holders (most) couldn't care less about the PCL web site. Rather, it's all about what lies beneath the ocean floor. For other businesses, industries, etc this may matter, but in this instance it does not imo. Professionalism in this case has been mgt's ability to navigate each step in the exploration process, develop an excellent relationship with NAMCOR and attract WDS (all while respecting confidentiality which has been very important to NAMCOR). I believe the hard work by mgt has actually now been done - it is now simply a case of letting things unfold.
• WDS is not delaying anything. They are wishing to receive and analyse all data before formalising any farm-in...and rightly so. As I have posted previously, WDS and PCL mgt met with NAMCOR in Cape Town recently, following which the extension app was made. Why bother with the app if the outcome is not known? WDS are also sponsoring Namibia related energy conferences. Why?
• Not sure if there will be a take over, but if there is at many multiples of the current SP, fine by me.
• Agreed, we are effectively a 'one trick pony', but if you're ever going to back a horse, this is the one.

Lastly, I noticed that Sintana is now not even bothering referring to PCL as a partner. Might be a reason for that: