PCL 0.00% 1.4¢ pancontinental energy nl

red hot kenya, page-14

  1. 270 Posts.
    Hi Wasa,

    Just curious: Which one of the two do you think has the better chance??

    That's a great question,

    I guess it comes down to drill success, if any.

    Far with confirmed two well program in Senegal from start of next year, chasing very large targets and possible two well program in GB starting from the middle of next year ( GB has a lot of sovereign risk involved with up and coming election in November after coup, one must remember that the President was assassinated in 2009, very loose country, so possibly more delays). L6 & L9 still a while off before the drill hits the deck. The farm downs would be a nice start!!. As you know Wasa, the progress of L6 for PCL holders, has been beyond a joke, through GOP/FLOW and now FAR, funny how the same names pop up behind the scenes?


    PCL could/should have BG 2 well program in L10A/B and Apache 1-2 well program in L8 announced soon?. Would hope to see Namibia farm down in the next 2-3 months .

    Some differences that stands out between the two companies is, the different in number of shares out on the street, and of course the numbers, PCL's 1.1 bil v FAR's 2.5+ bil and FAR board have no skin on the line, yet PCL have skin on the line.

    One joy of holding both is L6, if she will finally be drilled. If after farm downs, say FAR to retain 25% and PCL 15%, we could be holding a 40% stake into the possible 1-2 drill program??

    One thing is for sure, win, lose or draw we will find out 12 to 18 months.

    Hope this confused everyone, just like l did to myself,lol.

    OK Wasa, if l had to pick, PCL solely for the fact i have very similar size holdings and PCL have far less shares out there, hence potential larger upside.

    Are you still keeping an eye out for LMG??

    Shovel.

 
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