PCL pancontinental energy nl

9.09%

1.2¢

General Thoughts, page-12606

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Hittman

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19/05/26

12:20

Post #: 83999746
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Originally posted by Drswing ↑

You rarely get 'real leaks' in O&G (in my experience only) - but if there was, yes volume would clearly be an indicator - the challenge being how do you differentiate between a real fundementally led move, vs a p&d broker orchestrated move? The interesting part of this situation is the market has already had expectations somewhat set, via the license extension (ie, within the next 6 months a farmin 'should occur', at the very least will have occured). Using a little bit of industry experience we could speculate and say we right now within a high potential catalyst window (may/june/july) - given this is currently in the 10-11th month of formal farmout process (10-14months is industry median). As they say, the hardest part is in the holding/waiting - sit back, let it happen. Price action indicates to me we are in a pre-catalyst equilibrium phase (not much volume, not much movement, no leak). Despite the Trump rhetoric, oil prices have been elevated for too long now, sounds like oil hunger games are about to begin in Europe (https://www.cnbc.com/2026/05/18/eur...-war-price-shock-inventory-strait-hormuz.html). They can't just 'turn on' everything on again if the war magically ends. Majors are very clearly going to be looking towards safe geopolitical environments for long life projects - with all the proven assets nearby, at the very least we're in the right postcode.

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Like the Galp deal was in the news before official announcement, a reasonable expectation of similar with us is not foolish.
I fully expect a spike in volume a few days before an official announcement.

PCL Price at posting: 1.4¢ Sentiment: Hold Disclosure: Held
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Last 1.2¢		Change 0.001(9.09%)		Mkt cap ! $91.14M

Open	High	Low	Volume
1.1¢	1.2¢	1.1¢	296.2K

Buyers (Bids)

Vol.	Price($)
3817789	1.1¢

Sellers (Offers)

Price($)	Vol.
1.2¢	4359917

Last trade - 16.10pm 12/06/2026 (20 minute delay)

PCL (ASX) Chart

General Thoughts, page-12606

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