http://uk.finance.yahoo.com/news/1-kenyas-first-offshore-gas-1543...

http://uk.finance.yahoo.com/news/1-kenyas-first-offshore-gas-154334343.html

Key takes from the reuters story:
Apache plan to drill a second well end 2013 after reviewing the data
Apache believes that the fact that gas has been found in Mbawa should improve the chances of success for Anadarko and BG Group (which should also be positive for PCL)

In summary, while it is disappointing that oil and gas were not found at the lower, secondary target, investors might consider that there is no point in throwing the baby out with the bathwater, either. This campaign in offshore Kenya has shown that a significant gas reservoir exists, though not quite commercial when taken in isolation. It will offer terrific encouragement to other majors, looking to drill in the next few months. Potential multibagger success for PCL has been delayed, not necessarily denied. I exoect there will be a sharp pullback today, but when one considers the newsflow over the next 6 months as other operators look to spud, positive momentum will re-emerge.

Long term holder though rarely post...