Going forward I’d like to think you’re in a minority rizzla, wanting (salivating) for 10 cents per share when there is so much potential upside for Pandora. Most of us are not toiling, sweating it out (or trolling) here for a quick buck so we can dust our hands for the next big thing, this asset is worthy of seeing it through as best as possible, and by all accounts it definitely is coming together. Besides at 10 cents most shareholders are still out of the money. Why would we go through all this just to cut our losses?
Worth noting more importantly is the fact the geology of Pandora is the same as that of Elk/Antelope (direct quote from Kina’s website,
http://www.kinapetroleum.com/ppl338.html),
“PPL 338 is on a reef carbonate fairway running from Pandora in the south through Pasca, Uramu and continues up to Elk/Antelope and Triceratops.”
Now Elk/Antelope sits along the frontal thrust belt that runs through PNG from North-West diagonally across down to the South-East, within this belt is where most of the largest onshore gas discoveries have been made. Now where you find Elk/Antelope is where all the gas has drained down and pooled up, this has also been aided by a large deep underground and upward over thrust which has broken off the belt, this has probably been the reason for the pooling up of large gas quantities there in the first place. Interestingly as many may or may not have noticed, Pandora sits on a reciprocal fold line to the South of Elk Antelope (where at one point in the distant past the right tip of Australia was attached), and a secondary drainage pool of this reef carbonate fairway appears to have built up there, which is evidenced by a trend where the lower gas quantities to the top with Uramu and Pasca gradually build up to the significant quantities at Pandora. See page 6 on this link;
http://www.searchanddiscovery.com/pdfz/documents/2012/10456botsford/ndx_botsford.pdf.html
The analogy I make is like cutting a water pipe that’s been flowing for a very long time and letting it pool up at the cut zone over time whilst the rest of the water that had flowed onward continues to drain down-stream and pool up at the bottom end below (Pandora).
The amount of gas and flow rates found at Pandora should normally be found much deeper, this would suggest there’s a huge mother-load concealed and pooled up further below and what we are seeing is that gas is seeping up to the higher level (courtesy of the porosity of the reef at the top) which is what we have at the moment. I believe the gas has pooled up at the first trap at the top at Elk/Antelope and towards the bottom, deeper underground at Pandora. All available signs point to it.
Finally there’s no way any company, even in this environment can achieve even a fraction of a find the size of Pandora for the equivalent of 10 cents a share, the amount of money to drill and search for such a find would be multiples of that. So, why should we sell ourselves short when we have no debt and enough money to comfortably get to the finish line?
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