General Thoughts, page-9208

Yes, I think the previous presentation that stated this quarter for farm-in was perhaps overly optimistic and raised some eyebrows. Conversely, September is perhaps overly conservative and I expect something prior.

It hasn't been discussed at length (given focus on the farm-in), but I think the imminent seismic inversion quantitative interpretation study will be interesting. Per the quarterly, "Additional potential is identified within deeper sequences beneath the Oryx and Hyrax prospects which may be converted to exploration leads subject to the results of the study." Similar to Mopane, "scope exists for multiple prospect/leads to be targeted by a single well (e.g. at Oryx/Calypso/Addax Channel)". Would certainly be a boost if the study indicates the ability for multiple leads to be targeted by a single well.

Lastly, I thought these were interesting comments from Northern Ocean (link) - owner of the Deepsea Bollsta and Deepsea Mira rigs...

"Operated by Odfjell Drilling, the Deepsea Mira is currently docked at Walvis Bay and has been specifically upgraded for local deepwater conditions. "For the past two years, the Deepsea Mira rig has been a cornerstone of Namibia’s energy sector, drilling the majority of wells in the region." "This stability has allowed us to invest in Namibian talent — with nearly 40% of our offshore crew now local — and boost the onshore economy through targeted procurement and community investment," says Northern Ocean chief executive Arne Jacobsen. "However, sustaining this momentum requires continued drilling activity. Without active rigs, there can be no progress in building local expertise or economic prosperity. Securing uninterrupted drilling operations is critical to driving Namibia’s long-term energy independence and national development," he adds."

Appears that they are eager to get back out there, perhaps a little frustrated? Sounds like some subtle pressure to get things moving.