Maybe we are over thinking things here.
pel 87 is also locates in the Orange basin where decent oil has already been discovered by Shell.
The 100 million can only be speculated based on historical data, priced when even shell was speculating. Not to mention PCL's generous 75% holding and current oil prices.
It should also be considered that PCL are in the process of renewing lease for pel 37 which they could partially fund if they had that sort of money.
imo we are only seeing the tip of the iceberg and very soon, there will be drilling all over this region and every time oil is discovered, the value of our lease will increase as will sp.
not much can go wrong to send us backwards
would be nice to ffwd 6 months
Graff -.2, page-44
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Last
1.7¢ |
Change
0.001(3.13%) |
Mkt cap ! $130.1M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.7¢ | 1.6¢ | $11.40K | 695.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 8459274 | 1.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 5454626 | 7 |
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| Last trade - 12.59pm 02/09/2024 (20 minute delay) ? |
| PCL (ASX) Chart |