I thought the same but having just been through the AGM presentation I see no statement about size of the prospects or COS.
My guess is somewhere around 200m barrels and 20% COS.
If the drill comes off, this will be massive for Kenya (and PCL). They have Miocene reefs in all of PCL's blocks and expect other operators to start to target these prospects first. Miocene reefs generally have excellent flow rates so development can be quick and relatively cheap as less wells would be required. This would then provide funding for the deep prospects. Thats my guess anyway, that if the Miocene reefs come in, then expect a complete flip over to these and watch the deeper water drilling prospects get delayed.
PCL Price at posting:
6.6¢ Sentiment: LT Buy Disclosure: Held
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