PCL Chart, page-37

Details? Ok. Sale finalised 7 July 2021. Price of oil around 70 but they don't use current, they use futures as a basis and the rate was 65 (note, futures prices are likely to be 80-90 for pcl the last looked which could make a difference).

There were 3 phases to the project but they only counted phase 1 and 2 as 3 was too far away. Target extraction was half a billion barrels and development and extraction cost was to average around $30 a barrel across the 2 phases. They ended up with a bit over 13.6% down from 18% after the owner opted in for a bigger slice.

The purchase price for the asset was US$45 million plus a working capital adjustment of approximately US$167 million (development cash calls). The final completion payment to FAR, after adjustments and remedying of FAR’s defaults under the joint operating agreement, was approximately
US$126 million. Additional payments of up to US$55 million are contingent on future commodity prices and timing of first oil.

When you take into account all the money we spent drilling evaluation wells (a dozen) we only got back cents on a dollar invested ( FAR shareholders got the pineapple)

Doesn't mean the PCL story will be the same. They say that past performance doesn't guarantee the future but the other proverb is "once bitten, twice shy". Hence why I want to see a good deal.

I've heard it all before on the FAR threads. Price per barrel 5-10. The asset is too cheap. People with different opinions labelled as downramper.

Personally, I need to see some indication that this is not more of the same. It might not be. All the hype might live up to expectations. If I'm overly cautious and lose out on some money then so be it but things are certainly different for those who bought in at .001-.002 to those who bought .009-.013 and those who bought early can be more brave.

If you have any wonderful sale outcomes from the last year then by all means post them. That's what this forum is about.