Namibia potential boosted by ExxonMobil, page-2

The Peters could easily with CPR in hand and market sentiment, gone to the market and raised funding to commission a 3D seismic survey. If there is no deal, this is what they will have to do in any case

Instead, as we know they committed themselves to a structured farm out process

Which, makes me think the Peters had a show of interest and knocks at the door, that lead them directly to the farm out process. Even I had an email from Stellar some months ago confirming there is an appetite for deals in Namibia.

Of course timing will have been crucial, hence from CPR and directly into the process. They know that the Cormorant well has created a huge amount of industry interest, shown by many deals having already been struck. They probably think that a deal would be more likely be done ahead of the Cormorant spud as well.

I don't think they went in blind and knew the potential heading into the process. However completing a deal is another matter and time will tell

I wonder what sort of interest PI's have here, between 1-2mln shares or more ?