General Thoughts, page-4925

Agreed, that was my interpretation also. They (galp) are simply exploring across the licenses they have an existing interest in (which are all to the south). As you point out, they (galp) have indicated there is 'exploration potential to the north' of their existing license. It will be interesting when the seismic license is granted for pel87 - as wds will then be able to share the results with strategic third parties (if they wish), and slowly build out a picture of the true scale of the orange basin (which seems to be prolific!) - which will help with suitable drill target identification/prioritisation.