PCL 11.1% 0.8¢ pancontinental energy nl

Waingaromia 2 Drilling - Worth ?

  1. HC5
    2 Posts.
    PCL has just reported
    "At 5.05hrs, while coring at this depth a gas kick occurred and the well was shut in. The gas was flared at the surface, and although flow rates could not be determined, for the first 5 minutes, the flame was reported as over 5.0 m long. This
    subsequently declined as kill mud was circulated and the well stabilised."

    The well is a redrill of a 1800's well that discovered oil and burnt the rig dowm. Signs so far are encouraging but it is not a discovery yet.

    What might it be worth if it comes in as predicted
    (which is still a risk)?
    120m on issue
    10mb recoverable
    say A$12/bbl

    Check it yourself
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