In my mind you will struggle to see better seismic signatures in terms of DHIs than PCL's release on 10 September. If the AVO and PSDM confirms everything to date, this will be a slam dunk farm-out to a major, no doubt in my mind:
"The joint venture participants are talking to a number of large international companies to farm-in for drilling Mbawa. Drilling is currently planned for 2011."
Exposure to multi billion barrel potential at 3.8-4c per share. I think I'll buy some more while I still can at these prices. Not many shares on the ASX have this risk to reward equation.
With QE2 oil is only headed one way in the next 12 months.
If PCL strikes oil in Kenya at the volumes suggested (and I won't be surprised if they get bigger during the next announcement), I will be looking for $10 per share before I even consider selling.
Cheers,
OK
time to keep the faith
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1.6¢ |
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Mkt cap ! $130.1M | |||
| Open | High | Low | Value | Volume |
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