STATOIL Exp 14 Million Acres : TOTAL Exp 6 Million AcresAny success of these Companies will greatly increase the value of the company’s Georgina Basin acreage.PFC is Levered to adjacent drilling sucess by TOTAL/Central Petroleum..
In November 2012, Central Petroleum announced that Global energy giant Total (5th largest Oil company in the world) farmed into approx 6 million acres within their Southern Georgina Basin acreage for exploration and development funding of approx US$190 million over three stages.
The Georgina Basin covers more than 100,000 square kilometers (24.7 million acres)
PFC/STATOIL Acerage Commadn 57% of the Entire Basin. Proposal to Spend up to $180 Million
+ Not to mention all the Exploration Going on in the Amadeus basin by SANTOS
and for Historical Valuation Purposes A Report Published by Maquarie in 2011 assigned a Potential Valuation of $470 Million to PFC .....Just something to keep in mind.(They had 100% & No J/V back then...Now they have a 20% with a Super Major J.V)...so relatively speaking a $94 Million Market Cap Target ....or 5.5x Current MCap)