Ann: Management Q&A Session, page-161

My read of Woodside's recent acquisitions in the US is that they are shoring up future production by buying now low risk projects to offset the expected production delays to their large North West Shelf gas project at Scarborough and at Browse/Scott Reef as they work through the red tape and green tape.
I would surmise that the Woodside board is very much aware of the major oil companies swing away from woke renewable project other than token projects and are getting back big time to oil and gas exploration and production, especially in new frontier 'hot areas' like the Offshore Orange Basin, Namibia. The worlds demand and need for the 'dreaded fossil fuel' is not quite dead yet!!!! And imho there is no 'real' high reward money to be made in renewables, boring industrial rate of return projects!

Deep offshore Namibia oil production is a very expensive and technical business, so I would not be surprised if Woodside lays off some of their interest in PEL 87 to a major like Exxon,either before drilling or after the first well in PEL 87.
The cost of drilling the first well might be around US$80 million which is peanuts for Woodside. So if Woodside have a MOU with Exxon as has been posted, it would be for a buy in to PEL 87 the event of success of the first well in PEL 87, much the same as what GALP is doing with a partial sale of their 80% equity in the very large Mopane Oil Field in PEL 83 to the south of PEL 87.

All speculation on my part on what Woodside are planning to do in the future.

On the technical side, maybe Oldgeo might care to comment/speculate on what the 3D might have shown if shot over all of PEL 87 out to the 3000 metre water depth contour. I ask this, as might have been interesting to see where the 'feeder channels' shown in the PCL quarterly 3D slice go/trend outside the existing 3D. Also the extent of the interesting AVO anomalies present in the south western portion of the 3D slice.

And patience waiting for the drilling in 1Q/2Q 2025 is the key word for this exciting PCL project.

Risk in every thing and DYOR.