BGIn response to your enquiry on EMR thread.I bought in last...

BG

In response to your enquiry on EMR thread.

I bought in last week for several reasons.

Firstly I think they have been well over sold based on Stokes delay and Battrick leaving.

Opportunity is only that until realized but PCL have multiple opportunities for company makers which hopefully will resolve over the coming year.
Malta,Kenya and Morrocco all potential billion barrel plays.

I guess you have to believe that the bad luck has passed (hopefully) and Battrick jumped ship too early.

I see very little down risk and massive upside and thought it a good safe place to stick $20k.

I generally buy and hold oilers now having been in HDR from 7.6c to sell at 20c average and kicked myself.

I have held FAR for a couple of years for same reason now having bought in at average of 7.8c.

So I guess I like EMR and PCL for different reasons.
EMR's shares on issue mean that any production in SB will see share price multiples but not much else to pin the hopes on atm a part from dribbles.

I subscribe to Jocams newsletter and I guess what Stockanalysis had to say didn't hurt my thoughts either...

"PCL hasn't much apart from SB immediately on stream but watch out when some of the boundaries issues etc get resolved.
The company maintains a cash balance of just over $3 million and StockAnalysis
calculates a risk adjusted target valuation of around 18 cps for the company, which has
huge leverage to projects offshore Kenya and Malta. The problem for Pancon is firstly
getting approval to move ahead in the waters south of Malta from governments
involved and given Woodside’s withdrawal from neighbouring permits in Kenya,
ensuring that Origin Energy, its partner in Kenya, is willing and able to move forward to
drill one or more of its spectacular looking prospects.
Pancon is a pure exploration company with large risked upside. With a market
capitalisation now back to $20 million, the company has slumped to a level
where higher risk investors, interested in buying penny stocks, will be circling
to patiently wait for a breakthrough event."