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PCL

Here's what I said a week ago...

Pancontinental (ASX: PCL) has had a full year of exploration. The share price has slid, and I think this is due to shareholders not understanding how long it takes to bring oil production online and due to short-selling.

The share price is under a cent and looking like really good value. They have had majors looking at the farmin opportunity since late May, which means that their due diligence and modelling is almost complete. So now might be a good time to jump in ahead of any major oil company interest.

It's a punt, but the upside could be a massive rerate and increase in share price.

...

And the share price has jumped a little and fallen back, but these guys have the goods and the time is absolutely right. Once a farmin deal is done there will be no looking back. And their big boys have been looking at the books for 6 months, and that's about how long it take to do their due diligence. So expect a good Christmas present from these guys.

Yep, this remains a good short-term opportunity.

I will check back before Christmas. 

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