And in other news, TotalEnergies (via JV) has effectively acquired Tungsten Explorer which is currently drilling at Mangetti. Might be needing it offshore Namibia for quite some time.
"TotalEnergies has struck an unusual deal to create a joint venture with Vantage Drilling to acquire the drillship Tungsten Explorer — currently working for the French supermajor offshore Namibia — from US-based Vantage.
The aim of the venture is to ensure that the French giant has access to a drilling unit in Namibia — and elsewhere — to carry out exploration, appraisal and development drilling duties, without needing to issue tenders in an increasingly tight rig market. TotalEnergies will pay $199 million for a 75% interest in the joint venture owning Tungsten Explorer, with Vantage owning the remaining 25%. The joint venture will contract Vantage to operate the Tungsten Explorer for 10 years."
PCL Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
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