Australia's largest stock trading and investment forum Australia's #1 stock forum

PCL

6.25%

1.5¢ pancontinental energy nl

Sorry make that $60m, not $54m

First 38 Last

Share
Profile

Follow
MidDigitalHair

353 Posts.

168

15/02/22

16:44

Post #: 59588000
Share

Originally posted by MidDigitalHair: ↑

There is a bit more to it. Shell initially bought Signet's Namibian assets (2913A/2914B) back in 2014 and then did a deal with Kosmos a few years later where they had a joint agreement to jointly explore various frontier areas. This block was a part of that deal. Long story, but in the end Kosmos wanted out of the agreement and Shell paid $100m and bought back their 45% equity along with a suite of other Kosmos exploration assets. I don't know the valuation split here though, so difficult to determine the Namibian value of this deal.

It is perhaps reasonable to use the original Signet asset purchase by Shell, which Signet returned to investors. By my calculations the deal valued the Namibian blocks at US$54m. Hindsight shows that this appears to have been a good deal for Shell. There are probably a whole load of bits to that deal that we don't know about, so take it with a pinch of salt.

Of course, anyone wanting to transact in PEL87 will take the perceived risks into consideration. That risk will be used to calculate any offer of farmin/buyout. Source rock presence risk looks to have been taken care of. However, as I have mentioned before, the maturity and charge is key here. Charge from the east from the "mature" kitchen into Saturn looks feasible, but the Graff discovery doesn't necessarily help de-risk the charge. A Venus discovery will partly help with the reservoir development risk, but it will not improve source maturity/charge risk any more than what Graff has done.

Just my opinion/s.

Expand

Sorry make that $60m, not $54m

PCL Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

BUX

Buxton projects new graphite province discovery at WA Narryer play

WCN

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI

BCI reaches close of funding facility for salt-first part of Mardie project

SLS

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

CKA

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

NTI

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

There are more pages in this discussion • 135 more messages in this thread...

First 38 Last

Add PCL (ASX) to my watchlist

(20min delay)
Last 1.5¢		Change -0.001(6.25%)		Mkt cap ! $121.9M

Open	High	Low	Value	Volume
1.5¢	1.6¢	1.5¢	$35.61K	2.328M

Buyers (Bids)

No.	Vol.	Price($)
25	8102178	1.5¢

Sellers (Offers)

Price($)	Vol.	No.
1.6¢	2723420	6

View Market Depth

No.	Vol.	Price($)
25	8102178	0.015
13	8020187	0.014
16	4244514	0.013
8	5891666	0.012
8	2422544	0.011

Price($)	Vol.	No.
0.016	2555624	5
0.017	5641435	8
0.018	7387008	8
0.019	3544773	6
0.020	1847224	7

Last trade - 16.10pm 04/10/2024 (20 minute delay)

PCL (ASX) Chart

Sorry make that $60m, not $54m

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI reaches close of funding facility for salt-first part of Mardie project

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Sorry make that $60m, not $54m

Top Stories

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI reaches close of funding facility for salt-first part of Mardie project

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News