PCL 0.00% 0.2¢ pancontinental oil & gas nl

on the move., page-5

  1. 16,041 Posts.
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    salty

    Farm-in by majors in the offshore Kenyan blocks is what is probably driving PCL at the moment IMHO. Also the farm-in to offshore Malta and proposed drilling in early 2004 got the market's interest and some of present buying may still be in response to its potential.

    I am holding 100k from Huinga times and sold 100k then at a small loss when it failed.

    Comparisons with HDR some years ago are purely circumstantial IMHO - although they appear to be copying their approach in Kenya. Dana of the UK are also interesting as they have high equity in both offshore Mauritania and Kenya and recently farmed out to WPL in Kenya. I bought them last year at 13p and they are only marginally up but have a great chart and success in either of the above could see a significant rerating (they are a safer bet in that they already have solid and increasing production in the North Sea and strong cash flow).

    Cheers

    H

    H
 
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