Woodside, page-1802

WDS and PCL in Namibia next week for oil conference. I'm hoping for an announcement re WDS intentions before then. Currently PCL is operator of PL87 ( 76% ) in the Orange basin which contains the large Saturn prospect. WDS has spent US$35 million on the 3D seismic and gets 56% of the action if it decides to drill. If not, PCL will chase one of the majors or could be ripe for takeover by one of them. As the lease is next door to Galps 10 billion+ find I'm fairly confident WDS will take up their option which includes one free drill for PCL. As the prospect is large, success there would boost the WDS price and and also lift PCL . I hold both WDS and PCL. If WDS goes ahead I feel they will farm-out as much as 30% to a major for a hefty price as most of the World class discoveries to the South were made since their deal with PCL. GLTA holders we need this one!!