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Mr.Hustler

5,718 Posts.

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15/10/22

11:43

Post #: 64214104
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Originally posted by InvestorAdventures ↑

Haven't posted in a while fellow PCL loyalists. just thought I'd share my optimistic opinion on the current. I have to admit up until Chevron locked in PEL90 I was skeptical. with chevron on the field. Thats huge. they ain't there to make millions it's not worth there time they're there for billions.

One might even assume they were one of the "4 majors in the data room" and didn't make the shortlist or something?!?!? I know which block I'd be going for and if a powerhouse like chevron wasn't PCLs first option there must be some heavy hitters at the table. Nevertheless since the lights haven't been turned out yet one has to assume good news is coming... with the recent termination of the other Namibian block, PEL87 is clearly managements end game and hopefully they see it through as long as they can and the SHs who've been battered by this company over the years get rewarded well beyond our dreams. We all know the potential is there. Here's hoping the board get it right and the other parties over the pond don't shaft us.

which is my main concern.... the lease is up come January and the majors may be trying to push us out. if so hopefully the government rewards PCLs 20 year loyalty and doesn't allow this. but money talks and people are indecent plus it's Africa. This is what I see as the main risk for us and a big one at that can anyone add to that? We get over that hurdle and lock in the deal we are on easy street.

Don't know alot about the fine print with the deal did some calculations of my own though. The drill will be around 30 million if done in 2 months. With the rig costing 500k per day. Thats based upon the ultra deep water depths 2.5kms ish....
So there would be a lot to go through.

Can someone also throw up best and worst case ownership percentage forfeiture with the deal. I was thinking 25-40%?!!?!?

As for our block I've been all but convinced since the major discoveries we are sitting on Pandora's box in 87, that superfan could be one for the record books. Hopefully the stars align for us all. Who knows, fortune favours the brave.

GLTAH AIMHO

Enjoy the weekend

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The percentage they're left with will partly depend on how much they want up front.

The bigger the cash upfront and better free carry the lesser will be retained. How much risk do they want? If they go for just free carry but hold a bigger %, the initial drill is more critical to be a success. If we get more cash and a free carry, the company can go on even if the initial drill is a failure.

If after cash and free carry, I can see them left with 15-20% but who knows. Hoping for any sort of deal at this late stage.

PCL Price at posting: 0.5¢ Sentiment: None Disclosure: Held
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Last 1.7¢		Change 0.000(0.00%)		Mkt cap ! $138.2M

Open	High	Low	Value	Volume
1.7¢	1.8¢	1.7¢	$193.6K	11.31M

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No.	Vol.	Price($)
27	16761832	1.6¢

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Price($)	Vol.	No.
1.7¢	2040000	2

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No.	Vol.	Price($)
27	16761832	0.016
25	12620115	0.015
17	7556193	0.014
3	680000	0.013
2	416667	0.012

Price($)	Vol.	No.
0.017	2040000	2
0.018	8344401	12
0.019	3629590	8
0.020	2366115	9
0.021	6750000	6

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