1. Shell Shell walked away from the 11 billion recoverable bblExxon- Guyana block after paying the seismik there. and it looks like Shell has not the block with the sweetest spot in the Orange Basin in Namibia.
2. Chevron Chevron offered 53 billion US$ for Hess but there is a legal problem and perhaps Chevron does not get the Hess share of the 11 billion recoverable bbl Exxon- Guyana block.
I wonder which strategy Shell and Chevron will follow. Obviously Petrobras is the first company that tries to grab the Galp/Sintana block with Mopane.
There are not many unexplored and undrilled blocks left in the Orange Basin in Namibia ;-)
PCL Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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