jibbybagger

@AndyJay16634390 Won't be for long. Already have an estimated 8b+ recoverable resource. Happy for the bidding war to play out.

@jibbybagger The indicated size of some of the prospects are absolutely massive. Also up north in walvis, also indicated as massive. Orange basin far more explored obviously, and PCL sitting there on their lonesome which is surprising .

From the recent Namibia International Energy Conference, S&P Global's Namibia: The road to first oil and beyond map. As they note, a "Goldilocks Belt" developing, especially in the Orange Basin. Super majors have snapped up 100% of licences within the "Goldilocks Belt" there, with the exception of $PCL's PEL 87 where farmout discussions are well advanced. $TTE $SHEL $GALP $CVN $BP $SEI.V $PBR #namibia #oil #oott

Transocean "expects the (African) regional rig count to increase from about 15 units today to at least 20 over the next one-to-two years." "In Namibia... we continue to expect more activity as several majors, including most recently BP, evaluate opportunities in the country,” said Adamson." "Adamson noted that while the Iran war has not affected the company directly, it has “exposed the vulnerability” of the global energy supply chain and, at an absolute minimum, has amplified the “energy security imperative” around the globe." #namibia #oil #oott $RIG $GALP $SEI.V $PCL $BP upstreamonline.com/rigs-and-vesse…

@SentinelFlash With all of the other quality blocks taken, as well as the moratorium on new licences, it's surrounded and is just a matter of time. Not to mention the sheer size of Saturn and the already estimated >8b barrels recoverable.

Pancontinental Energy NL $PCL.AX operates as a strategic prospect generator holding a commanding 75 percent interest in the PEL 87 exploration block within Namibia's highly prolific Orange Basin. By utilizing proprietary high-resolution 3D seismic data, the company has identified the Saturn Turbidite Complex as a prospective resource with the potential for billions of barrels of recoverable oil. A recent regulatory extension of their permit provides a vital window to execute their core strategy of securing a lucrative farm-out agreement with a major energy player to fund future drilling operations. Although it remains a pre-revenue venture carrying significant binary risk, this asset offers extraordinary asymmetric valuation upside if a successful deepwater discovery is ultimately realized. Will their unique gatekeeper status in this global exploration hotspot be enough to attract the deep-pocketed partner needed to unlock this monumental opportunity?

A number of good articles this week on those who wisely positioned early in the Orange Basin, notably Galp, Sintana and Pancontinental Energy. $PCL $SEI.V $galp $tte #rhino #namibia #oil #oott

Selected bidders evaluate Pancontinental’s PEL 87 as farm-out process gains traction Pancontinental Energy says selected parties are advancing technical and commercial evaluations of a proposed farm-in opportunity in its offshore PEL 87 licence, as the company moves closer to securing a partner for the asset. Pancontinental said interested groups have accessed its virtual data room and are actively assessing detailed subsurface information, with ongoing engagements pointing towards a potential investment decision. “The invited candidates for the PEL 87 farm-out process have now accessed the virtual data room, with a number of groups advancing their technical and commercial evaluations of the PEL 87 farm-in opportunity as they progress towards an investment decision,” the company said. It added that discussions with potential partners are ongoing, with additional technical and commercial information being provided as required. miningandenergy.com.na/selected-bidde… #namibia #mining #exploration #oilandgas #investmentdecision @MME_Nam @CoMinesNamibia @nogconference @NIEConference @NAMPOA_ @energy_african @african_energyC @pancon_asx @nj_ayuk

$PCL quarterly today noting "invited candidates for the PEL 87 farmout process...advancing their technical and commercial evaluations of the PEL 87 farm-in opportunity as they progress towards an investment decision." "Pancontinental regards Oryx, Hyrax and the Northern Channel as the three "anchor" prospects for PEL 87 that offer very significant prospective resources with commensurate Geological Chances of Success. Notably, Oryx and Hyrax share common play elements and a successful exploration well at either prospect has potential to derisk the broader Saturn Complex prospect inventory." $SEI.V $TTE $GALP $PBR $SHEL $CVN #namibia #oil #pel87 #oott #orangebasin

@MatthijsS6 Commitment to "at least two projects".

investing.com/news/transcrip… Mopane $tte $galp $sei.v #namibia #oil #oott

@AlmostMongolian What happened to PCL? 🙂

Current portfolio allocation

"Galp said it is stepping up preparations for a three‑well appraisal drilling campaign at the ​offshore Mopane discovery in Namibia, with the first well due to ​be spudded...later this year." $galp $tte $sei.v #namibia #oil #oott #pel83 reuters.com/business/energ…

I'm sure they will in time as the blocks are well positioned. PCL already has the 3D and estimated >8b barrels recoverable, whereas STMP still needs to obtain the 3D.

Namibia's Petroleum Commissioner, Maggy Shino, presenting this week noted that PEL 87 "have something that is almost a mimic example of what you have in Mopane. The Saturn complex, it's so big, that it gives us all the elements that we have already observed both in the Kudu source rock and also in Mopane." Partners are looking to "drill that Saturn complex and also more that are being seen", a likely reference to the Northern Channel that extends into PEL 104. #namibia #oil #oott #pel104 #pel87 $pcl $sei.v $tte $pbr

Well, within the same speech, Maggy said PEL87 "have something that is almost a mimic example of what you have in Mopane. The Saturn complex, it's so big, that it gives us all the elements that we have already observed both in the Kudu source rock and also in Mopane." Partners are looking to "drill that Saturn complex and also more that are being seen". I take that as the Northern Channel which extends into PEL104. Therefore, wouldn't be surprised if Total and Petrobras farm in similar to PEL104.

@jibbybagger Kinda surprised pel87 is not in the headlines. Pel104 sounds like a monster, and pel87 with Saturn structure sits right next door, with modern seismic. I’d be surprised if 104 was secured in isolation, without looking both north and south.

PEL 104 offshore Namibia - potential reservoirs cover huge areas — most exceeding 1000 square kilometres — and could each house multibillion barrels of oil equivalent reserves. According to Namibia's Petroleum Commissioner Maggy Shino, prospects are stacked and aligned in such a way that you could target many of them with a single well. “It does not get better than that”. PEL 104 is located directly north of Pancontinental Energy's PEL 87. $TTE $PBR $PCL $SEI.V $SHEL $BP $ENI $GALP #namibia #oil #oott upstreamonline.com/exploration/it…