sam0408/others:
Whilst I (like all other PCL holders, I am certain) would have liked to see a success with the Welwitschia-1 drill, that negative result is NOT "the end" for Namibia off-shore and/or the Walvis Basin.
sam0408: "....., Repsol did'nt discover oil a bit to the north of PCL's block." I believe that Repsol's drill position is MAINLY WEST and a little bit North of the PCL block.
Regardless, TULLOW did have their (IMHO) good reasons for farming-into PCL's blocks "in a hurry" and shooting SEISMIC quickly - results of which should be forthcoming quite soon. Whilst I am far from being an expert, I moreover do believe that the area of interest in Tullow's search (seismic) in the PCL blocks is geologically DIFFERENT from the Welwitschia-1 targets.
Hence, I still like PCL exposure (with a FREE-DRILL coming) to NAMIBIA. And, moreover, I even like PCL's exposure to off-shore KENYA better now after the amount of de-risking that the SUNBIRD drill did.
I am pleased to be holding PCL for the longterm.
wasa
PCL Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
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