That same announcement has been there for the past since 2007. PCL picked up the R-license in Namibia in February 2007. It was a massive license which they had to interpret to receive exploration permits over the areas of their choice. PCL did not do any interpretation or analysis over the license and gave the RL back. They applied to the Namibian government for an offshore license (selected by PCL), yet after 3 years the government has still not given them a license.
So it is actually no new news. Sorry to disappoint.
What we also have is PCL looking like they have no chance of getting into Moroccan waters. PCL had previously been waiting for the formal issue of the RL from the Minister in Morocco. Looks like they are having no luck. Namibia will most likely result in the same. I don't expect too much on the Malta front either.
Looks like it's Stokes, Baniyas and MBAWA for now!
PCL Price at posting:
3.4¢ Sentiment: LT Buy Disclosure: Held
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